Living in JB 2 (Johore)

[yonglip]

Normal mortgage loan also can , just that u cant anyhow take out the money , more discplined ....
If needs to take out the money , need to inform bank and pay a service fee .
But no monthly charges at all.

hi sis,..for the mortgage loan u mentioned, are u saying that the bank allow you to pay off part of the loan and safekeep that amount which you have paid them. Later if you need the amount which you have paid, they let you have it and just charge you a service fee. I din know msia banks mortgage loan operate this way...Care to share which bank is this sis?..I would be keen to find out more....

cheers.

ADD ON: Saw LGLab's post...i think this is the semi-flexi type...interesting..

 

[tutucake]

You need to setup a bank account in Malaysia first.
Better to be a current account where you can issue cheque.
Transfer money by remittance companies. There are many to choose from which are recommended in this forum.
Conversion rate is usually better than money exchange but there is a service charge per transaction....usually s$10.
If your Malaysia bank account is a foreigners acct, then the remittance company will deposit rm10k per day until the amount is reached. But they will charge as only one transaction fee of $10.....not $10 per rm10k deposited.

Many say foreigners are allowed to open FD in Malaysia. I can only tell you.... dun assume.
If you have a loan with a bank, try to open the FD account with that bank.
If that bank is AmbAnk, then high chance you will face problem.
If it is public bank, then no problem.

I think you may wish to consider putting some of that money into the bank's unit trust...apart from just FD.

If I've already open a current acct to pay my home loan with the flexi plan which already in some ways beat the loan interest, is there still a need to open up a FD to help reduce the loan interest?

 

[crystal_tiong]

hi sis,..for the mortgage loan u mentioned, are u saying that the bank allow you to pay off part of the loan and safekeep that amount which you have paid them. Later if you need the amount which you have paid, they let you have it and just charge you a service fee. I din know msia banks mortgage loan operate this way...Care to share which bank is this sis?..I would be keen to find out more....

cheers.

ADD ON: Saw LGLab's post...i think this is the semi-flexi type...interesting..

Yes. U are right. It's Uob home loan. Just that if withdrawal needs 2 weeks notice. And pay service fee of rm50.
But foreigners set up fees is rm500.

 

[yonglip]

Yes. U are right. It's Uob home loan. Just that if withdrawal needs 2 weeks notice. And pay service fee of rm50.
But foreigners set up fees is rm500.

Thanks sis. Wow. they really have a full range of loan types to cater to all needs. Amazing.

But i still prefer the std flexi loan cos it works exactly like an overdraft account and set up is lower at RM200 tho there is a monthly fees at RM10. At least allows me to use the money in the account unrestricted (ATM/Cheques).

I guess really depends on one's financial needs.

That said, i find in general, Msia bank's product offerings more sincere and definitely much cheaper compared to SG.


cheers.

 

[Aisanbo]

If I've already open a current acct to pay my home loan with the flexi plan which already in some ways beat the loan interest, is there still a need to open up a FD to help reduce the loan interest?

My answer is no if there's already a loan in servicing.

It'll be useful in the case where a property has been purchased and would be completed in 2 or 3 years.
Loan will start in 2 or 3 years (sometimes the developer absorb interest during construction period...so no point also saving interest for them).
U know u would need an amount of money in RM at that time for renovation or reduce principal, etc, then the FD for 1-2 yrs makes sense.

 

[yonglip]

On the topic of finance, i think the next logical thing to have is a MY credit card. i suppose good for purchases especially online ones from MY sites. applying for one now through mortgage banker....hopefully no issues.

cheers

 

[crystal_tiong]

Anyone know what happensnto Dreamoraction ? Suddenly no sound no pic Liao.
Wondering does he go ahead with ST.

 

[jasonjst]

Anyone know what happensnto Dreamoraction ? Suddenly no sound no pic Liao.
Wondering does he go ahead with ST.

Er .. you miss him ? :p

 

[crystal_tiong]

Er .. you miss him ? :p

Ya lor. He so active then suddenly disappeared

 

[typh00n]

Credit cards in Malaysia are more difficult to obtain because of bad debts.
Just recently Bank Negara made new announcement on credit card guidelines to further limit and control credit card growth.
Currently, card fees are compulsory and cannot be waived by banks.
The more cards you hold, the more you have to pay in card fees.
It is easier to apply and get approval for Debit cards, and card fees can be waived.

On the topic of finance, i think the next logical thing to have is a MY credit card. i suppose good for purchases especially online ones from MY sites. applying for one now through mortgage banker....hopefully no issues.

cheers

 

[CameraMan]

Bro yonglip,

You can consider UOB ONE card. You can enjoy up to 5% cash back on your purchase. The amount will be deducted from your next statement.

Thanks sis. Wow. they really have a full range of loan types to cater to all needs. Amazing.

But i still prefer the std flexi loan cos it works exactly like an overdraft account and set up is lower at RM200 tho there is a monthly fees at RM10. At least allows me to use the money in the account unrestricted (ATM/Cheques).

I guess really depends on one's financial needs.

That said, i find in general, Msia bank's product offerings more sincere and definitely much cheaper compared to SG.


cheers.

 

[maxpark]

That said, i find in general, Msia bank's product offerings more sincere and definitely much cheaper compared to SG.


cheers.

Not for interest rates on loans...
Singapore definitely much cheaper... less than 2% vs more than 4% in Msia... it does add up if repayment over many years... so for me, its prudent to settle Msian loans faster than Spore's, in today's environment.

 

[contra]

Wednesday February 15, 2012

Study on EDL toll fees



JOHOR BARU: The Government has agreed to carry out a detailed study before implementing toll collection at the Eastern Dispersal Link (EDL).

MCA president Datuk Seri Dr Chua Soi Lek said that the Prime Minister has asked the Economic Planning Unit to carry out the study.

“I raised this at the National Economic Council as MCA is against the idea of those not using the link to also pay the toll charges. Even the Johor Mentri Besar also agreed that the matter needed study,” he said after attending the Johor MCA Chinese New Year open house at SJKC Pu Sze in Skudai here yesterday.

The 8.1km EDL, which costs RM1.1bil, links the North-South Expressway to the Johor Customs, Immigration, Quarantine Complex. It is developed by MRCB Bhd.

The Star had reported that the link, which is almost completed, will force all motorists travelling to Singapore via the Johor Causeway to pay about five times more than the present RM2.90 paid for both ways to PLUS Bhd.

On another matter, Dr Chua urged voters especially the Chinese not to be hoodwinked by the propaganda spread by the Opposition especially the DAP, which has made Johor their frontline state.

I think this all just political fog only. MRCB was ex-Anwar-linked company. Make them appear bad guy so MCA can come in to 'fight for the people' make hero by getting Gov to get MRCB to drop the plan...So the price hike for CIQ Causeway wont happen or if so, only so little .

Anyway whoever wins Johor, Iskandar has its own momentum to succeed... Even opposition need a success story., same as incumbents. I wish both the best ...

 

[mallow]

Bro can you share with me on where is it located? I dun mind adopting but not cats as I'm allergy to cat fur, can't stop sneezing when close contact to them but no problems with dog fur. .. If only we can move them from sg to jb.. There is a big adoption drive this sat/sun

It is definitely possible to adopt a puppy or dog (with an older dog you can know its temperament already established) in Singapore and bring it into Johor. PM me if you need
details.

But there are MANY dogs and cats for adoption in Johor. Contact Noah's Ark & Wondercare when you are ready: they have many of all breeds.

abugumgum - well done for suggesting adopting from a shelter.

 

[yonglip]

Not for interest rates on loans...
Singapore definitely much cheaper... less than 2% vs more than 4% in Msia... it does add up if repayment over many years... so for me, its prudent to settle Msian loans faster than Spore's, in today's environment.

i was referring to the fees bro.

for interest rates, cannot just look at loan rates alone. also need to see its twin brother - deposit rates (cost of funding). i.e the net interest spread.

Agree that mortgage interest is definitely high and have to take steps to address it...such as using offset mechanisms or lower amount borrowed etc..really depends on individual's financial comfort zone.

cheers bro.

 

[yonglip]

Bro yonglip,

You can consider UOB ONE card. You can enjoy up to 5% cash back on your purchase. The amount will be deducted from your next statement.

thanks for the tip bro, will check it out!

 

[yonglip]

Credit cards in Malaysia are more difficult to obtain because of bad debts.
Just recently Bank Negara made new announcement on credit card guidelines to further limit and control credit card growth.
Currently, card fees are compulsory and cannot be waived by banks.
The more cards you hold, the more you have to pay in card fees.
It is easier to apply and get approval for Debit cards, and card fees can be waived.

darn!..and i was still hoping to call in and waive the fees in future..like in SG..haha.

Yes. i think may get a DC since i only want the convenience of paying for purchases...not the credit facility cos i/r on CC can be a real killer.

cheers bro.

 

[ShawnLow]

Yonglip bro u have not pay the interest yet? How nice~

 

[ShawnLow]

With cc is more convenient actually. Msia start getting more n more type of puchase into installment plans and zero interest. Which is very useful to those who short or cash or don wish to tied by large amount of purchase. Further more cc can use for on9 purchase in msia...when tgv ready js purchase the ticket n walk tothere collect, enjoy the movie xD

 

[yonglip]

Yonglip bro u have not pay the interest yet? How nice~

jus doing my level best to save some money bro....eating instant noodles and using candles most of the time. haha

cheers.