house refinancing guide in malaysia

Things to consider before refinancing

• Lock-in period
Your home loan/financing's lock-in period may range from 3 to 7 years. The lock-in period starts once the first drawdown takes place. Should you cancel your loan/financing within the stipulated period, you will be required to pay an exit penalty which may range from 3.5% to 5% of the original home loan/financing amount (at times, plus administration fee or unwinding fees for fixed home loans/financing). You may want to check your Letter of Offer for your existing home loan/financing to ascertain the lock-in period and percentage of the exit fees.

• Moving cost
Moving cost refer to, inter alia, legal fees, valuation fees, stamp duty and other disbursement or charges relating to the preparation of the legal documentation in relation to your home loan/financing.

What are the benefits of refinancing my home?

*Cash out - invest in other area or buy another property
*Replace adjustable Rate
*Pay off current debts - pay off higher rate debts or credit card.
*Lower Interest Rate



call banker for more detail

Malayia bank service center number

1. AmBank 03-2178 8888
   
2. AIA 03-2056 3207
   
3. Alliance Bank 03-5516 9000
   
4. CIMB Bank 1300 88 0900
   
5. Citibank 03-2383 0000
   
6. EON Bank 03-2148 8077
   
7. HSBC 03-2050 7878
   
8. Hong Leong Bank - 03-7626 8899
   
9. Maybank 1300-88-6688
   
10. OCBC 1300-88-5000
    
11. Public Bank 03-2176 6000
    
12. RHB Bank 1800-88-9922
    
13. Standard Chartered Bank 03-7711 8888
    
14. United Overseas Bank 03-2612 8121

car loan calculation in excel format

car loan calculation - dowload this file (car loan) to calculate your monthly repayment. Just fill in the current load rate, loan amount, total year loan and car price.


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Car insurance NCD in malaysia

NCD=No Claim Discount means a discount given to the policyholders upon renewal of their motor insurance if no claim is made or arises from the policy for a continuous coverage of 12 months.

If you were never involved in any accident nor were there any claims made to your car insurance, these are the discount rates you will enjoy.

Private Car
1st year - 0% (buying a vehicle for the first time, you will not have NCD on your motor policy for the first year on the road. )

after 1st year - 25%
2nd year - 30%
3rd year - 38.33%
4th year - 45%
5th year - 55%
5th year onward- 55%
.
.
.


Commercial Vechicle
1st year - 0%
2nd year - 15%
3rd year - 20%
4th year - 25%
5th year onward- 25%


NCD attached to the person (not car) and not transferable.NCD follows the owner but it is only applicable for 1 policy.

You can transfer my NCD from one vehicle to another. This typically happens when you have sold your old vehicle and want to transfer your NCD to the vehicle you are purchasing. If you do not transfer your NCD to another vehicle, your NCD entitlement level will drop one level each year. For example, if your NCD entitlement is 55% this year, it will drop to 45% next year, if it is not transferred to another vehicle. This will continue until the NCD level reaches 0%.

Useful link resources for stock market malaysia

Useful link Resources

Website
1)Bursa malaysia KLSE - to check listed companies information
Bursa malaysia - Listcompany annual reported
2)The Biz Star - market watch, companies watch(fundamental, finacial result, history chart, etc), read news
3)Google FinanceWorld wide stock market watch
4)Yahoo Finance


Forum
1)马来西亚佳礼中文论坛-投资理财-马来西亚股票区
2)Lowyat.NET Finance, Business and Investment House Forum


Blog
1)alenkhoo 学投资理财
2)山芭佬的投资组合