This facility is available as a Conventional Loan or Islamic Financing for existing Maybank/Maybank Islamic Home Financing customers, where:
- the Home financing portion is fully disbursed with up to date payment record;
- after which, financing for decoration is disbursed progressively over a 12-month period
The financing amount can be:
- Additional 30% financing on top of your existing Home Financing, OR
- A total combined financing of up to 120% of property purchase price or latest open market value, OR
- maximum of RM250,000, whichever is lower.
Refer to the examples below.
Example 1:
Account 1 (Existing Home Financing)
|
House Price/Value
|
RM800,000
|
|
a. Finance purchase at 90% financing margin
|
RM720,000
|
|
b. Finance related expenses & Mortgage Reducing Term Assurance/Takaful at 5% financing margin
|
RM40,000
|
|
Total Home Financing facility (a) + (b) = (c)
|
RM760,000
|
Account 2 (MyDeco Financing)
Additional 30% or up to a total of 120% financing or maximum RM250,000, whichever is lower.
|
Financing Type
|
Amount
|
|---|
|
d. Finance interior design at 20% financing margin
|
RM160,000
|
|
e. Finance related expenses & Mortgage Reducing Term Assurance/Takaful at 2% financing margin
|
RM16,000
|
|
Total MyDeco Financing facility (d) + (e) = (f)
|
RM176,000
|
Total Financing
|
Account Type
|
Margin
|
Amount
|
|---|
|
Account 1 (Home Financing) (c)
|
95% margin
|
RM760,000
|
|
Account 2 (MyDeco Financing) (f)
|
22% margin
|
RM 176,000
|
|
Total (c) + (f)
|
117% margin
|
RM 936,000
|
Example 2:
Account 1 (Existing Home Financing)
|
House Price/Value
|
RM800,000
|
|
a. Finance purchase at 90% financing margin
|
RM720,000
|
|
b. Finance related expenses & Mortgage Reducing Term Assurance/Takaful at 5% financing margin
|
RM40,000
|
|
Total Home Financing facility (a) + (b) = (c)
|
RM760,000
|
Account 2 (MyDeco Financing)
Additional 30% or up to a total of 120% financing or maximum RM250,000, whichever is lower.
|
Financing Type
|
Amount
|
|---|
|
d. Finance interior design at 25% financing margin
|
RM200,000
|
|
e. Finance related expenses & Mortgage Reducing Term Assurance/Takaful
|
NIL
|
|
Total MyDeco Financing facility (d) + (e)=(f)
|
RM200,000
|
Total Financing:
|
Account Type
|
Margin
|
Amount
|
|---|
|
Account 1 (Home Financing) (c)
|
95% margin
|
RM760,000
|
|
Account 2 (MyDeco Financing) (f)
|
25% margin
|
RM 200,000
|
|
Total (c) + (f)
|
120% margin
|
RM 960,000
|
Example 3:
Account 1 (Existing Home Financing)
|
House Price/Value
|
RM800,000
|
|
a. Finance purchase at 90% financing margin
|
RM720,000
|
|
b. Finance related expenses & Mortgage Reducing Term Assurance/Takaful
|
NIL
|
|
Total Home Financing facility (a) + (b) = (c)
|
RM720,000
|
Account 2 (Deco Financing)
Additional 30% or up to a total of 120% financing or maximum RM250,000, whichever is lower.
|
Financing Type
|
Amount
|
|---|
|
d. Finance interior design at 30% financing margin
|
RM240,000
|
|
e. Finance related expenses & Mortgage Reducing Term Assurance/Takaful
|
NIL
|
|
Total MyDeco Financing facility (d) + (e)=(f)
|
RM240,000
|
Total Financing
|
Account Type
|
Margin
|
Amount
|
|---|
|
Account 1 (Home Financing) (c)
|
90% margin
|
RM720,000
|
|
Account 2 (MyDeco Financing) (f)
|
30% margin
|
RM 240,000
|
|
Total (c) + (f)
|
120% margin
|
RM 960,000
|
Example 4:
Account 1 (Existing Home Financing)
|
House Price/Value
|
RM900,000
|
|
a. Finance purchase at 90% financing margin
|
RM810,000
|
|
b. Finance related expenses & Mortgage Reducing Term Assurance/Takaful
|
NIL
|
|
Total Home Financing facility (a) + (b) = (c)
|
RM810,000
|
Account 2 (MyDeco Financing)
Additional 30% or up to a total of 120% financing or maximum RM250,000, whichever is lower.
|
Financing Type
|
Amount
|
|---|
|
d. Finance interior design at up to 30% financing margin or maximum RM250,000
|
Capped at RM250,000
|
|
e. Finance related expenses & Mortgage Reducing Term Assurance/Takaful
|
NIL
|
|
Total MyDeco Financing facility (d) + (e)=(f)
|
RM250,000
|
Total Financing
|
Account Type
|
Margin
|
Amount
|
|---|
|
Account 1 (Home Financing) (c)
|
90% margin
|
RM810,000
|
|
Account 2 (MyDeco Financing) (f)
|
27.8% margin
|
RM 250,000
|
|
Total (c) + (f)
|
117.8% margin
|
RM1,060,000
|
