Maybank Home Loan. Discover It Now!
Maybank offers a flexible home loan package – MaxiHome – a semi-flexi home loan with a redrawal facility. This Maybank housing loan is renowned for its flexibility. For instance, this Maybank property loan Malaysia takes into account your present and future needs. Thus, you have more flexible when comes to repayment options. Compared to the norm one-third of your salary, this Maybank housing loan allows a higher loan eligibility which is up to 40% of your salary. To suit your financial situation, there is an exclusive flexibility of revising monthly instalments when you sign up for this Maybank home loan Malaysia. Another benefit that you can enjoy via this Maybank home loan Malaysia product is you are able to service the interest option. In other words, you can have your monthly instalments commence immediately instead of upon full loan disbursement.
Maybank Home Loan Malaysia features a 3-year lock in period, which can be considered average when compared to other banks’ home loan products. In case you want to make an early full redemption, you will have to pay a relatively low penalty of up to 2% on your outstanding loan amount. To repay your monthly instalment of your Maybank property loan Malaysia, you can pay via any nearest Maybank branches, ATMs, or online transfer.
There’s another extension from Maybank MaxiHome namely MaxiHome Plus. There are a few differences in this particular Maybank housing loan. For instance, you pay absolutely nothing during the construction period. Via this Maybank property loan Malaysia, the monthly progressive interest will be capitalised into the loan amount. Another extension of the product is Maxi Flexibility. This Maybank home loan Malaysia product only applicable for houses which cost RM75,000 and above only. Via Maybank Max Flexibility, you can choose from a term loan, an overdraft or a combination of both. If you opt for the combination option under this particular Maybank housing loan product, the ratio of the term loan to overdraft is flexible. Under this Maybank property loan Malaysia, you can enjoy unique personal loan facility which is tailored to meet your personal needs.
With Maybank home loan Malaysia packages you can benefit from a longer repayment period of up to 35 years (in accordance to the latest ruling by Bank Negara Malaysia) or until the age of 65 whichever comes first. Furthermore, Maybank property loan Malaysia can offer a high margin of financing of up to 95% including capitalisation of related expenses such as Mortgage Reducing Term Assurance (MRTA). Another plus point of this Maybank housing loan is anyone can apply for this mortgage loan, including the foreigners too.
Maybank Home Loan Packages
Maybank offers two competitive home loan packages to cater to different individual needs - MaxiHome and the Overseas Mortgage Loan Scheme. The main features the packages are listed below for your comparison.
|Product||Key Features||Is this a flexi package?|
|Maybank Overseas Mortgage Loan Scheme||
Details of Maybank’s Flexi Home Loan Packages
Flexi home packages allow borrowers to make extra repayments every month in
order to reduce their monthly interest charges. These packages come with requirements, fees and conditions that should be considered alongside their benefits.
|MaxiHome||Maybank Overseas Mortgage Loan Scheme|
|Is a linked bank account required?||No||No|
|Account Maintenance Fees||No||No|
|Redrawal Terms & Conditions||The redrawal amount must be in multiple of thousand.||-|
Am I Eligible for a Maybank Home Loan?
Maybank stipulates applicants to be at least 25 years old. It allows financing for properties valued at RM50,000 and above.
What Documents Will I Need to Prepare?
If you have applied for a Maybank Home Loan, you will be asked to provide some supporting documents in order for the bank to process your application. These documents are listed below:
- Application Form
- NRIC / Identity Card
- Copy of Sales and Purchase or Booking Receipt or Letter of Offer from Developer
- Copy of Individual Title Deed
- Property Valuation Report (for completed properties)
- Latest 3 consecutive months of salary slips / vouchers
- Latest 6 consecutive months of commission statement
- Latest EPF statements (with 3 consecutive months or more transaction history)
- Latest EA form
- Latest 6 months Bank Statement
- Letter of Confirmation of Employment and Remuneration
Sounds Great! How Should I Proceed?
You can use the Maybank home loan calculator to calculate your monthly repayments, based on your desired property value and loan amount. Once you are ready to apply, you can make a free enquiry through iMoney, and we will call you back. Applying for a home loan with iMoney is absolutely free of charge.
If you are not sure whether this home loan by Maybank is your best option, click here to compare other home loans in Malaysia.
Is It Easy to Repay my Maybank Home Loan?
With the largest network of branches, Maybank home loans are very easy to repay. There are also other non-branch methods for repayments which you can use:
- Online Transfer
- Transfer funds from your Maybank Bank Savings or Checking accounts to make your payments online
- Pay your loans at any of the MEPS ATMs (over 5,000) nationwide
- Interbank GIRO
- Pay your loans through the Interbank GIRO fund transfer at the participating bank’s branch or through online banking
- Standing Instruction Facility
- Automatic deduction from your bank account every month
- Maybank ATMs
- Transfer funds from your Maybank Savings or Checking accounts to make your payment at all Maybank branches
- Express Payment machine
- Make a check or cash deposit at Maybank branches
- Payment by Mail
- Mail to Maybank with your check and statement enclosed in an envelope
- Phone Banking
- Issue instructions to have your bank account deducted to pay for your home loan with your T-PIN
If you are looking for other home loans, you may also consider
- Al Rajhi Bank Home Loan
- The home loan rate from Al Rajhi Bank starts from Base Rate (BR) 4.25%. There is no flexi loan package option available for this loan and there is a maximum of 90% margin of financing. There is no lock-in period for this home loan.
- MBSB Home Loan
- MBSB provides a housing loan rate starting from BLR-1%. The option of a flexi loan package is not available for this loan and there is a maximum of 90% margin of financing. The lock-in period for the housing loan is 5 years.
- UOB Home Loan
- At UOB, the mortgage rate starts from Base Rate (BR) 3.89%. The option of a flexi loan package is available for this loan and there is a maximum of 90% margin of financing. There is a 3 year lock-in period for this mortgage.
Category: Bank loan