Indeed, financial institutions have been rather accommodative to the economic situation as they introduced attractive end financing schemes to the market, which was fundamental in this win-win situation for both them and the end consumers.

Aware of the better economic outlook, consumers took advantage of the more accessible and attractive end financing schemes that were suddenly available, and this in turn helped boost sales for the banks.

With mortgage being one of the biggest contributors to Maybank’s consumer portfolio, this speaks volume of its banking experience and popularity among consumers.

Dynamics of Maybank’s FlexiOD Home Loan Although there are quite a number of attractive home loan programs available presently, it is only wise to analyze each one carefully before making a decision. What are the advantages or is there anything ‘unique’ about them?

You might want to consider Maybank’s FlexiOD Home Loan. Unlike conventional housing loans, this scheme isn’t just strictly a home loan, as it also behaves like a current account, literally.

“This is a financing package designed especially to suit the market sentiments and at this moment, we know that people are in the buying mood for properties again and they will continue to do so in the coming months,” says Encik Abdullah bin Abdul Rahman, Head of Mortgage at Maybank.

Here’s a scenario to help better explain how this flexible home loan works; say you took up a loan for RM500,000 with a minimum monthly repayment plan. And instead of paying the minimum, you make a payment of RM50,000 for the first month and another RM100,000 for the second month. Hence, your principal amount remaining would be RM350,000, while your total repayment made to date would be RM150,000.

With Maybank’s FlexiOD scheme, you are only charged interest for the remainder of your outstanding principal loan amount, which is the RM350,000. This interest will be calculated on a daily basis. In addition to that, you have the added advantage of withdrawing the total amount you have paid up so far, much like an overdraft facility, and in this case it’s the RM150,000. So, say if for some reason, you need the extra cash, for instance, to remodel your house or to attend an important wedding in Sydney, you won’t need to look far now.

“We are a bank that is always attentive to our customers, hence we’re able to tune in to their needs better,” shares Abdullah.

In a can, Maybank’s FlexiOD Home Loan gives you the advantage and flexibility to save on daily interest especially when you have the extra funds for the repayment. And best of all, it also lets you withdraw back the total repayments you have made whenever you need to use the funds with no notice needed for the withdrawals.

Making payments or withdrawals is easy with Maybank’s wide network of branches throughout the country, via ATM or Cash Deposit Machines. You can also do it online at www.maybank2u.com.my or through phone. No additional charges such as commitment fees will be imposed on your more-than-minimum deposits as well as your sudden withdrawals.

How is this possible? Well, basically what the FlexiOD scheme does is, it integrates both your home loan and your deposit accounts into one using the interest-offset principle. You can therefore manage your savings and cash flow through a single mortgage account. The more you save, the more you will help to reduce your outstanding home loan principal, which will also help you save on interest. Ultimately, this will allow you to own your home faster.

In conclusion, if you want better control on managing your home loan payments and funds effectively, try Maybank’s FlexiOD Home Loan, it’s really more than just a home loan you’re getting.

Thumbs up for Maybank FlexiOD Home Loan!

Better Sales Performance Reported by Property Developers
1st Half 2010: 29% respondents reported Better Sales
2nd Half 2009: 17% respondents reported Better Sales
Overall 12% improvement

Buyer’s Profile

Source: REHDA Media Briefing Property Updates, 1H2010

Eligibility
Individuals aged 18 years and above.
Malaysian or permanent resident.

Features
Loan provided for all types of completed or under construction residential properties.
Margin of financing up to 90%.
Mortgage Reduction Term Assurance, legal fee and valuation fee can be financed.
Enjoy loan tenure up to 30 years or 60 years of age, whichever is earlier.
Flexibility of repayment.
You may deposit any amount at anytime.
Withdrawal of excess payments made is allowed with no extra charges.
No notice needed for withdrawal of excess payments.
No commitment fees will be charged.
Interest computed daily for immediate savings on interest.
Cheque book is provided.

For more information on Maybank’s FlexiOD Home Loan, contact 1300 88 6688 or log on to www.maybank2u.com.my today.

Text Gary John