My1 Flexi – RHB Bank complete review
Home equity loan
Can you imagine having a loan that gives you the freedom to make unlimited repayments, and additional repayments for what matters most in life ? The RHB Bank is here to give you that experience and make you enjoy the flexibility to prepay, and redraw excess funds whenever you want to enjoy interest savings and shorten your loan term with the My1 Flexi Loan!
Here, you will find a personalized, exclusive and uncomplicated service, where you can speak to one of our consultants to help you through the joining process. We clear up all your doubts and you will be able to count on all our support to carry out your hiring. We know that this is a very important moment, and we would like to offer you the best experience possible.
In addition, we have exclusive benefits, such as
Flexible reimbursement: You have the option to make extra payments, in addition to the monthly payment if you wish, all with extreme ease.
No interest and no charges: You can enjoy the initial flexibility that there are no additional fees and no monthly service charges.
Easy to contract: You can access additional funds whenever you need extra cash.
Who is eligible for contracting?
- Residents and non-residents
- Individuals over the age of 18
- Couple or single
Loan Details:
Minimum amount: RM 30,000 (Including MRTA/CLTA).
Loan Margin: Up to 90% + 5% (MRTA/CLTA+ FEC)
Term: Minimum 5 years / Maximum: 35 years or on reaching 70 years of age.
No redesign fees.
Documentation required along with the home loan application
To the salaried applicant:
NRIC photocopy
Last pay slip for 3 months*
Credit statement for the last 3 months salary*
Latest EPF declaration
Latest BE form + tax payment receipt
Purchase contract / booking receipt
Self-employed applicant:
NRIC photocopy
Sole Proprietorship and Partnership – Borang A & D
Private Limited – Form 24 and 49
Latest Form B + Tax Payment Receipt
Current account statement for the last 6 months
Purchase and sale contract / booking receipt
Insurance obtained in respect of credit:
Group Mortgage Reduction Term Guarantee (GMRTA)
Get reductive coverage for Life Insurance in case of death or total and permanent disability (TPD). When a claim is filed, the applicable sum assured is for the repayment of the outstanding mortgage.
Group Credit Term Guarantee (GCLTA)
Get level protection for Guaranteed Life in the event of death or Total and Permanent Disability (TPD). When a claim is filed, the applicable insured amount is for the repayment of the outstanding home loan.
Benefits and Privileges of GCLTA:
Protection in the event of death and TPD
Early Loan Repayment Benefit
Guaranteed flexible summation and flexible term
Worldwide 24-hour coverage
No guaranteed maximum amount (subject to underwriting)
Coverage up to age 70
Benefits and privileges with contracting GMRTA:
Death protection and TPD
Additional 20% of sum assured in case of accidental death
Early Loan Repayment Benefit
Flexible sum assured and flexible term
24-hour worldwide coverage
Optional Passenger: Family benefit (FIB) Passenger to receive an extra 1% of the initial sum assured for 12 consecutive months after admission of the claim
Coverage Details
Minimum: RM 5,000
Maximum: No limit (subject to underwriting review)
Term of Sum Insured Coverage
Up to the nearest 70th birthday of the individual
Eligibility: Individuals aged 18 to the nearest 65 years.
Security
This is a very important point when it comes to taking out your loan. We know that it is becoming increasingly common for scams and companies that are not reputable to comply with the terms of contract. Therefore, in addition to all the contractual clauses that govern your contract, it is important to count on a company that really cares about you and the protection of your data.
Through the information given above, it is possible to obtain more knowledge about the product offered, besides answering possible doubts you may have. We can see that the conditions offered are facilitating, and the language is uncomplicated, to ensure that everything that was talked about is easily understood.
We are dealing with a very important factor, because it will be the contribution to help you realize the dream of owning your own home and provide you with even more freedom, therefore, the rates are minimal, much lower than the market, and the opportunity is unmissable. Take advantage, and make your simulation now! Take the first step towards your dream.
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