Maybank has launched a new MaxiHome Housing Loan Package which offers borrowers an interest rate of only 2.88% for the first year and Base Lending Rate (BLR) + 0.75% for the remaining years of the loan period.
The new rates effective 1 April 2001, are applicable for residential properties, both completed and under construction, as well as for refinancing of completed houses and additional financing from the redraw facility. The new housing loan package is offered for a limited period and applicable to new loan applications.
In announcing the new MaxiHome rate, Maybank's General Manager of Consumer Banking Division, Encik Abdul Aziz Peru Mohamed expressed confidence this new housing package will be well received by potential and existing houseowners.
"This new housing loan package is competitive and attractive to borrowers. At the same time, it will also create an impact in the industry as well as strengthen the Bank's overall position in the housing loan business."
Encik Aziz Peru added, "The new housing loan package is launched in support of the Government's recent announcement on exemption of stamp duties as part of the measures to reduce the property overhang in the market and promote economic growth."
The Maybank MaxiHome loan offers a margin of financing of up to 90 % and maximum loan tenure of 30 years or 60 years of age, whichever is earlier.
In addition to the conventional housing loan package, Maybank offers the Bai Bithaman Ajil (BBA) House Financing package under the Islamic Banking Scheme for borrowers who prefer a fixed rate housing package. The current BBA Housing Financing package will continue to offer a profit rate of 4.5% for the first year and 6.5% for the second year. The profit rate for the third year onwards range from 7.75%-8.75% depending on the loan tenure.
For more information on the new MaxiHome Housing loan package, borrowers can enquire at any of the 365 Maybank branches or call 603-2347776 or visit the bank's website at http://www.maybank2u.com/.