Citibank Housing Loan

While it may be a hard decision to actually choose a home loan for many people as it can get really confusing just calculating the interest rates that one would need to pay back in order to service the loans. Along with that also comes other concerns such as hidden chargers and penalties if the payments of the monthly instalments are paid late. Many people in fact have related home loans to mobile phone plans as there are so many complexities involved along with terms and conditions which can be hard to understand. For those of you who can relate to what has been said in the previous lines above, worry no more as Citibank offers a home loan which suits just about anyone and everyone. What you will actually get at Citibank is a completely flexible home loan which you can pay off whenever you feel like doing so. You are given the flexibility to pay an additional amount to finish up your loan payments and you are also allowed to withdraw money when you are in need of cash. This brings a whole new meaning to the term ‘flexibility’ and this is exactly what people are looking for nowadays.

How Can I Qualify For The Citibank Home Loan?

If you happen to be interested in the Citibank Home Loan, you will need to meet a few standards which has been set by Citibank in order for you to qualify for the home loan. The first thing which you would need to know is that you will at least have to be 18 years of age in order for you to apply for the home loan and there is also a maximum age limit of 70 which you are not supposed to exceed. You need to be sure that you at least have an annual income of RM 36,000 in order for you to be eligible for the home loan and its home loans are open to people of all nationalities here in Malaysia.

What Exactly Does Citibank Offer Its Customers?

The main benefit of the Citibank Home Loan package is that you actually get a margin financing on your property for up to 90% and also a 5% for MRTA financing from AIA Insurance. You will be happy knowing that you will have that privilege of getting a 35 year loan tenure from Citibank and the loan packages at Citibank is suited for homes which are completed and also properties which are under construction.

What Are The Types Of Loans Available

As far as full-flexi home loan packages are concerned, Citibank is still at the top of its game. Citibank is one of threw few banks that actually provides two different types of full-flexi home loans. The first type of loan will be the HomeCredit package which not only comes with a single integrated account which allows you to consolidate your account and keep track of your finances but also offers you the benefit of a payment concept without giving you a fixed monthly payment but instead allowing you to pay when you wish like paying.

The other home loan package, also known as the FlexiHome Loan allows you to save on interest as the interest rates are calculated based on a daily basis. You are also given the option to start paying for your property immediately even if the property you want to purchase is still under construction. This will actually allow you to reduce your financial burden a little faster on the long run.

Both the Citibank loan packages which are offered also come with a lock-in-period of 6 years. By far this is the longest lock in period in the market today. If you ever feel like settling your loan repayment then you has better be ready to pay a penalty of 3.6% which will be charged on your outstanding loan amount.

How Can I Increase My Chances Of Buying That Dream Home Which I Have Always Wanted?

The first thing which you will need to do in order for you to increase your chances of getting your home loan approved is to pay off any debts which you may already have. Having bad debts might kill your chances of getting your loan approved. The next thing you should know is that if you are someone who is married, you will also have your chances increased as you will be able to use your spouse’s income as a combined income for the both of you and this normally does the trick as well as increase credibility with the banks.

 

 

Mara Eduloan

Everything You Need To Know About It

Education loans or scholarships in Malaysia today are something which most people dream off obtaining right after they finish their national examination here which is known as the ‘Sijil Pelajaran Malaysia’ or SPM for short, to most people around. The MARA EduLoan 2015 is known to be one of the most sought after scholarships which is only eligible for anyone who is a Bumiputera. The term Bumiputera here refers to all those who have either one parent which is a Malay and practicing Islam. Bumiputera can also mean the aborigines and indigenous for Sabah & Sarawak, their children are also Bumiputeras.

The cold hard truth is, while this is something which every student goes after, you would have to pass your SPM with flying colours in order to qualify. The EduLoan MARA 2015 is not something that is very hard to get but you sure would need a whole lot of luck to be on your side. Let us take a quick look as to what it is all about and just how someone like you can obtain it too.

Getting Started

The first thing which you would need to do is to check the MARA website right after your SPM examination to see if the application is open for you to apply. The process of applying for the MARA EduLoan is not as difficult as it may seem. What you will need to do is fill up the form with all your personal details and you will also need to decide which field you would like to major in and where you would like to go from there. You will be given two main choices and you will need to pay close attention to what you have decided to choose and in which order you have placed them because your first choice is what will be of priority to.

You will get a variety of options to choose your field of major in the PDF form which they have prepared for you and all you need to do is to remember to save all your written details once you are done filling up the form. The flexibility which you will be happy with is that you need not worry about your choices you have made as you still have time to change it before the final closing date of the application.

To all of you who don’t already know, MARA EduLoan is basically a loan which needs to be paid back once you have completed your degree and started working and the amount which you will pay back is based on the class you graduated with your degree. The good thing about the MARA EduLoan is that you will know exactly where your future will be headed to as the number of years to complete the courses and the types of courses available are very clearly stated.

Once you are done with the filling of the application form, you will then need to wait until you receive a notification stating that you have been shortlisted for the interview. You will also be able to check the status of your application just by logging in and checking if there are any issues or is something needs to be updated. There will also be instructions to guide you through out the whole process if you have any trouble with the process.

Take note that you will need to dress up formal for the interview buy you do not need anything over the top like a blazer or a coat. All you need to do is to go through a psychometric test. You will also be made to ask an essay do keep in mind that as much as you would like to show off your writing skills, you will need to keep within the word limit which has been set. Writing more than you should could actually cost you the scholarship itself so make sure you pay attention to the details of what is being asked.

 

The essay test taken in the final step which you will need to do and once that is done, you will need to wait for MARA to update your status on their website. It really is just that simple.

How To Know If You Are Eligible To Apply

  • You must be a Bumiputera in order to apply for the MARA scholarship
  • The duration of the programme must be more than 1 year
  • Your family income must not exceed RM 10,000 a month or 120,000 a year

Guidelines On How To Apply For The MARA Loan

  • You must have an active bank account from either Maybank, Affin Islamic Berhad, Bank Kerjasama Rakyat, RHB Islamic Bank or CIMB Bank
  • You need to have an active e-mail address
  • You can go to http://eduloan.mara.gov.my/ to apply
  • You will receive a MARA agreement containing a loan offer letter, a few forms and a loan agreement
  • You will need to complete filling up the form before its due date
  • Your documents that are handed in have to be certified and approved by the commissioner of oath

A Final Word

While these might seem like a hassle to do but in reality, it really does not take up that much time and the benefits you will reap from this scholarship later on will be priceless as it just might build a very bright future for you indeed

 

Best Home Loan Malaysia

right-home-loan

When it comes to choosing what people might call ‘The Perfect Home Loan’, many actually tend to go insane in the process. In Malaysia today, you will see almost every bank advertising their home loan packages at every corner but this only makes it even more confusing for people as there are so many factors to decide on when one is choosing a home loan. Some of the things which you might want to consider when looking into a home loan are the types of home loans which are offered, the interest rates of each type of loan, the margin of financing, the fees and charges and the lock in period. These are just some of the important things you should keep in mind as each bank varies in their terms in condition when it comes to a home loan.

The cold hard truth is, there is no such thing as a best home loan or a home loan which is perfect. Each bank offers their own benefits based on the type of loan whish their clients are looking for. The different home loans are designed to cater to people of all walks of life based on their earnings and their capabilities. To make your life a little easy, you will be able to check out the breakdown below on some of the most established banks which offer some of the best home loans in terms of interest rates and loan repayment flexibilities.

cimb property loans

CIMB PropertyLoans

Interest Rates
CIMB Bank offers an attractive rate of 4.75% for home loans.

Bank Highlights
CIMB Offers full flexi home loan packages with a very low minimum loan amount. This is best for loan amounts ranging between RM500,000 – RM600,000.

Terms & Conditions
The terms and conditions for to qualify for the CIMB home loan is that you will have to be at least 21 years of age. The loan tenure can be extended up to 35 years and it is suitable for completed and also properties which are under construction.

Loan Summary
CIMB Bank provides many different types of flexible packages. One of the benefits of the CIMB home loan is that the minimum loan amount is only RM15,000. This loan can be obtained for properties which are still under construction by the developers. Some of the other benefits which you may enjoy would be the loan repayment period which enables you to a loan tenure of up to 35 years and or until you reach 70 years of age depending on whoever comes earlier

maybank logo

Maybank Maxi Home

Interest Rates
Maybank offers an attractive interest rate of 4.65% for home loans.

Bank Highlights
A few things which you need to know is that Maybank is the largest bank in Malaysia that offers high end financing to its clients. There will also be a low early settlement penalty imposed on those who try to settle their payments before the agreed time period.

Terms & Conditions
The terms and conditions for to qualify for the Maybank home loan is that you will have to be at least 25 years of age. The loan tenure can be extended up to 35 years and it is suitable for completed homes and also properties which are under construction.

Loan Summary
Maybank offers flexible repayment options to all of their clients. A huge privilege which you will get from Maybank housing loan is that you will have a higher eligibility which is up to 40% of your salary. Some of the other benefits which you may enjoy would be the loan repayment period which enables you to a loan tenure of up to 35 years and or until you reach 65 years of age depending on whoever comes earlier. The good news is that Maybank is one of the rare banks in Malaysia which can offer you a high margin of financing up to 95%.

 homeplan

Public Bank

Interest Rates
Public Bank offers an attractive interest rate of 4.95% for home loans.

Bank Highlights
A couple of things which you will enjoy from Public Bank is the zero cost entry packages and also the overdraft facilities which are provided.

Terms & Conditions
The terms and conditions for to qualify for the Public Bank home loan is that you will have to be at least 21 years of age. The loan tenure can be extended up to 35 years and it is suitable for completed and also properties which are under construction.

Loan Summary
The Public Bank Home Loan is a loan which enables you to save more money compared to other home loans as your interest rates are calculated on a daily basis. You will also be able to enjoy the Exclusive Annual Fee waiver if you qualify as one of their eligible customer. If you think that is fascinating, you would then be elevated to know that Public Bank Home loans can offer you up to a 100% margin inclusive of the legal fee and stamp duty.

 hong leong logo1

Hong Leong Bank

Interest Rates
Hong Leong Bank offers an attractive interest rate of 4.65% for home loans.

Bank Highlights
You will get to enjoy the full flexi packages which are offered by Hong Leong Bank along with an Optional Overdraft, Semi-Flexi and Full-Flexi Packages.

Terms & Conditions
The terms and conditions for to qualify for the Hong Leong Bank home loan is that you will have to be at least 21 years of age. The loan tenure can be extended up to 35 years and it is suitable for completed and also properties which are under construction.

Loan Summary
Hong Leong Bank has certainly made life for their eligible customers easy as you are able to repay your loan via online banking or by using the ATM machine. On top of that, you are offered a ‘bullet-payment’ scheme feature which allows you to make up to 35% of the principal loan repayment only at the end of the loan period. If you are someone who wants to finish paying of your loan a little faster than the usual, then you will be happy to know that the Hong Leong mortgage loans allow you to pay more than your fixed monthly payment.