Maybank is one of the largest and well known banks in Malaysia and a leader in the country providing various personal, retail and commercial banking solutions to their customers. This already gives the housing finance option from this bank an added edge over other housing products. Being one of the biggest names in the business, they still are very conscious about the fact that they are an out an out Malaysian bank and they keep making an extra effort to ensure the overall financial development of the economy and industry through their products and not just make profits in their line of business.
Housing loans from Maybank, come with a lot of benefits and are bespoke to the needs and requirements of the Malaysian public, catering to various income groups as well. The bank offers a maximum loan repayment tenure of 35 years to make sure that people can enjoy their homes without guilt or an overwhelming dagger hanging as a huge lump sum to be paid against the home loan each month. Also with credit balances that are over RM 5000, customers can earn up to 1.85% every year of the repayment tenure. A foreigner or a non Malaysian can apply for this loan if the amount to be borrowed is over RM 500,000. There is also an overdraft facility, allowing the borrowers to withdraw up to RM 1000, each month against the overdraft facility. To get a clarity over all the products read on.
At least 25 years old
Less than 60 years old
Salaried / Self-employed
with regular income
Earn more than the minimum
Instalment limited to about 50%
of monthly income
Loan capped @ Up to 90% + 5% MRTT
Instalments of other loans lower
Make your spouse a co-applicant,
and her income will add
to your eligibility
Choose longer tenure loan up to 35 years
Alternatively add your parents
|Margin of Finance||Up to 90% + 5% MRTT|
|Guarantor Requirement||Guarantee Required|
Maybank’s MaxiHome Flexi loan functions combines home loan with a customer’s deposit account. As a result, savings in the account will minimise the outstanding principal of home loan. Loans are provided for all types of residential properties (fully constructed and under construction). MaxiHome Flexi offers additional flexibility in that customers can manage both their savings and cash flow via a single flexi loan account.
Maybank offers the following two types of loans
MaxiHome Flexi combines home loan, savings and current accounts into a single account. Some of the salient features of Maybank Maxi Home Flexi are as follows:
It is a conventional loan offered for purchase of property. Some of the salient features of this loan are as follows:
Maybank offers competitive interest rates. The rate of interest on this home loan is floating and depends on several factors such as annual income and credit history among others. The interest is computed on a daily basis for savings on interest under the Maybank Maxi Home Flexi plan. In Malaysia, the base lending rate (BLR) is 6.6% while the maximum loan amount which can be offered is usually 90% of the price of the property.
The documents required for loan approval are listed below:
Customers have to log on to the official website of Maybank and zero in on the most suitable home loan finance plan for them. Upon choosing the loan type, they must fill in their personal details online, following which they must print a copy of their application and submit it. If an application meets all the requirements, a home loan request will be pre-approved, following which, customers will will receive a reference number and provisional letter of offer. Customers have to go to a Maybank branch within 14 days with a printout of the letter of offer in addition to other documents for verification. Customers can check the progress of their loan request online by using their reference number.
The minimum age is 25 years while the maximum is 60 years. All salaried persons and self-employed with a regular income can avail of a home loan by Maybank.
Yes. You can prepay Maybank home loan subject to a pre-payment fee of 2% on the (outstanding) loan amount.
The margin of financing is 90% (for all types of fully constructed and under construction residential properties).
You have to log on to the official website of the bank, enter all relevant data online and submit it along with all the required documents.
Apart from offering Home Loan,Maybank offers other products and services which include: