“Nak buat loan rumah kena pilih bank yg offer interest rate paling rendah”

I would say i agree but not totally agree. Yes you can compare the lowest interest rate offered but, interest rate bukanlah segalanya ahaks gitchew. Follow this thread kalau nak tahu kenapa

Kepada yg belum tahu, interest rate rumah ni fluctuates. Dia boleh naik dan turun mengikut ekonomi negara and based on Base Rate (BR) dari Bank Negara Malaysia. Setiap bank diberi lain2 BR dari bank negara. Sebab apa?

Sebab kasi chance lah dkt bank2 kecik utk dapat peluang offer interest rate rendah to stay in the market.

Formula for interest rate is (BR + fixed rate) so kalau bank A offer interest rate (1.7 + 1.3) dengan bank B offer (2.5 + 0.5) mana yg korang nak pilih? Both pun 3.00% what

Kalau tahun depan BNM announce BR bank A naik 2.5, bank B turun jadi 2.0, berapa interest rate korang tahun depan?
Bank A: 3.8%
Bank B: 2.5%

Lets say 2025 BNM announce BR bank A turun pulak jadi 1.5, bank B naik pulak 2.8, jadi
Bank A: 2.8%
Bank B: 3.3%

Now u get what i mean?

There are few things other than interest rate that you must consider.

1) Package Offered.
In the market got 2 main package offered. Conventional and islamic. Semi-Flexi and Full Flexi. Before sending an application ask your banker to explain this and which one they recommend u.

If you ada extra cash, you can park it into housing loan acc to save interest (interest is applied to outstanding loan balance). However, how many % interest you saved tu different bank has different capping. Also the withdrawal fee different bank has different fees.

2) Loan Tenure and Loan Margin

Most of the banks offer 35 years loan tenure, ada juga 33 years. Loan margin for different bank offers different loan margin especially for under-cons project. So if you’re looking for low monthly installment, go for max loan tenure and loan margin

3) Lock in Period

Lock in period means you takboleh cancel loan / jual rumah / refinance dalam tempoh lock in ni (usually 3 years). If you do so, boleh dikenakan penalty dari bank. Ada bank yg tak kenakan lock in period for islamic package.

4) Insurance Package

There are 2 types of insurance. MRTT and MLTT. R in mrtt means reducing and L in mltt is Level term. Pampasan diberi jika u mengalami kematian/kecacatan kekal for mrtt berkurangan tapi mltt maintain sama. Some bank offers mrtt only. Some offer both options.

5) Late Payment Charges

Most bank akan increase your interest rate kalau 3 bulan lambat bayar. Tapi, ada bank yg terus double your interest rate kalau sebulan je lambat bayar. So read your Letter Offer carefully

6) Other Hidden Fees

Read your Letter Offer carefully. Some bankers might forget to explain to you their hidden charges. Some bank ada utilities fees, maintenance fees and etc. Make sure ambil tahu betul2

Correction: Setiap bank diberi different BR dari BNM adalah salah. BNM will announce the OPR based on current economy hence will effect the BR for every banks. Sorry for the misleading info. but fact is different bank mmg ada different BR and it fluctuates based on OPR

I think that’s all you need to consider before accepting a housing loan. Hope this thread will be useful for everyone My DM is always open for any question regarding housing loan, i’m happy to assist you