Maybank offers the Maybank MaxiPlan scheme, which is a refinancing loan. With MaxiPlan, you can refinance your existing home loan, and get access to some cash at hand. This refinance scheme is available to both individuals and small businesses.
|Interest Rate||3.25% (BR) + 1.75% p.a.|
|Type of Loan||Semi-Flexi.|
|Margin of Financing||Up to 85%.|
|Stamp Duty Charges||Based on the Stamp Duty Act 1949.|
|Legal and Disbursement Fees||Fees for registration of charge, loan documentation, bankruptcy search, and land search.|
|Processing Fee||Varies from RM50 to RM200 based on the loan amount.|
|Processing Fee on Redraw of Advance Payments||RM25/redraw request from the loan account.|
|Letter for EPF Withdrawal||RM10/request.|
|Monthly Maintenance Fee||RM5 for the overdraft facility.|
|Late Payment Penalty||1% p.a. on the arrears.|
|Nationality||Malaysian citizens and permanent residents.|
|Type of Applicants||Individuals and joint applicants.|
Read the terms and conditions thoroughly to know how the home loan scheme works. Check with the bank about the eligibility criteria. A home loan refinancing is a right choice when you do not pay much in interest rates, and other fees and charges.
Q. Is this loan available to the units under construction?
A. Yes. The MaxiPlan is available for residential units under construction.
Q. How do I redraw the advance amount?
A. You can redraw the amount you have paid in advance via the bank’s website, or at the branch office.
Q. Is this loan offered to the non-residents of Malaysia?
A. Yes. This loan is offered to non-residents of Malaysia.
Q. What is the use of paying only interest for the first 5 years?
A. The bank offers you an opportunity to keep the instalments low for the first 5 years. You can pay just the interest every month for the first 5 years, and then start to pay the principal amount.
Q. Should I provide a guarantor to get the loan approved?
A. The bank may require you to provide a guarantor based on your repayment capability and other criteria.