Loan application
1) Conventional package
2) Semi flexible
Islamic package:-
1) is base on buy and sell concept
2) ownership is bank and lease to u. Upon maturity, bank sell back to u.
3) base of profit rate.
4) not flexible
Conventional
1) u buy, ownership is URS but bank have the right to auction ur house in event of default.
2) base on interest rate
3)flexible
Flexible loan
1) link with current account
2) maintenance fees 10 monthly
3) set up fees 200
4) calculation:-
Total loan - (total balance c/a X 70%)
Semi flexible
1) one loan account
2) no maintenance fees
3) u can anytime prepaid surplus amount to reduce principal.
4) any surplus amount entitle redraw.
5) redraw fee 50 per transaction.
Calculation:-
Total loan - prepaid amount = balance charge interest
Semi flexible is better coz no cap 70%
Conventional loan better
Coz have those feature
From public bank banker
