UOB Took Away My Money By Force!

[eErotica69]

Bro eErotica69,

if you magnified the move of 100,000 mortgage loan movements to a lower interest rate bank... for example, if an average loan is SGD 1 Million, and there is 100,000 housing mortgage movement... see how much will move...

100,000 X 1 Million = SGD 100 Billion

If this is not kachang puteh, what is? haha!!! we are discussing about one case here... but if you expand the case... OCBC can go bankrupt!

You are correct, but seriously what is the chance that this will happen? Unless they sucks big time and continue to do so for year. But the fact is they won't.

 

[ginfreely]

Customer friendly my foot!! Maybank's loans department customer service sucks big times. Their rates are very low though!!

I also find Maybank customer service for housing loan just so so. Ever done housing loan re-finance or conversion with POSB, HL Finance, UOB, HSBC and Maybank, all are the same, very fast to increase interest rate but service wise all so so! I like HSBC the best, their housing loan even offered penalty free conversion at one time.

 

[johnny333]

True, but not necessary always the case.

Example my case, I have $50K in my CPF OA that pays me 2.5% p.a. My Maybank loan only charge me 0.8% fixed this year and 1.6% fixed next year, if you were me, will you pay off the loan using the $50K CPF?

The idea should be, if your CPF or FIXED INCOME investment (like Bonds etc, not shares) interest (coupons) rate is more than the bank loan interest, it would make sense not to pay off the loan.

When you're busy working full time, its hard to play games with the banks
That's why I got out of the game i.e. terminated my mortgage.

The PAP gov't is also playing the same game, increasing the costs of living in Spore. I don't believe I should support a bunch of overpaid & lazy millionaires. That's why I've moved my $$$ out of Spore, buy most of my things from JB/US,.... My long term plan is to move out of Spore.

 

[cass888]

You are so right... in today's terms, Credit Card Facilities are legalized loan sharks, with the backings of the LAW, and the corporate lawyers are working for the bank's benefit, far more scarier than the Loan Sharks from Gangsters, as their reach to your assets is only limited by their brute force, however, the Credit Card Facilities have the power of the law to go all the way into your own personal possessions, your banking account, your assets, with the LAW on their side...

Lanchiow, understand?! The banks gave you real money and expected real money back. I've always used banks as a means of receiving 21-51 days' free credit. You got no money, don't use the fucking card, damnit!

Loan sharks my fucking foot!

 

[Sperminator]

Lanchiow, understand?! The banks gave you real money and expected real money back. I've always used banks as a means of receiving 21-51 days' free credit. You got no money, don't use the fucking card, damnit!

Loan sharks my fucking foot!

bro cass888,

not too many people are as financially intelligent as you are to use OPM (Other Peoples' Money) to do business, or to leverage on free credit... with a trade-off of paying some interest charges.

let's say you have a credit facilities of SGD 100,000.00 limit, and the credit interest rates is 24% P.A. or 2% per month, and you use the credit facilities to do a business transaction which gives you a good profit of 10% or more, sacrificing 2% for the interest rate gives leverage from no money of your own.

most people have a spending mentality...

yes, it depends on how you use this double edged sword, if you can manage the risk properly, this is a good opportunity, but if the trade goes sour... you make losses, it is against your favour, and you're loaded in debts...

 

[krafty]

bro spermboy, i totally agree with you. banks are exploiting the loopholes in the justice system to rip vulnerable pple off.

i also realise that in these days, to survive in spore, there is no job that one should feel ashamed of.

Banks in Singapore today are just like any legalized loan sharks.... with the power of laws behind their backs... think twice... spend what you HAVE, and spend within your means... there is nothing paiseh about eating in, spending little money for survival, nothing paiseh at all... and there is nothing paiseh about not driving, no holidays, not much possessions...

 

[Sperminator]

bro spermboy, i totally agree with you. banks are exploiting the loopholes in the justice system to rip vulnerable pple off.

i also realise that in these days, to survive in spore, there is no job that one should feel ashamed of.

thanks bro. don't get sucked into the lucruative so called free credit... the moment you spend, think about paying back, don't make minimum payments... if you do, get ready for some snowballing, and fuck up your own life...

 

[cass888]

Yah yah ... fucking Krafty aka Hotbot. It's never your fault. Got job you yourself quit then blame people.

You friend wants to share his happiness with you.

http://a1.sphotos.ak.fbcdn.net/hpho...0101039928472_547493471_6465430_7112928_n.jpg

bro spermboy, i totally agree with you. banks are exploiting the loopholes in the justice system to rip vulnerable pple off.

i also realise that in these days, to survive in spore, there is no job that one should feel ashamed of.