Which type of housing loan is more suitable for me?

Which type of housing loan is more suitable for me?

Photo by Ashton Real Estate Group License

FLEXI LOAN

·The borrower may have to set up a current account which is linked to the loan account, for a fee.
· The borrower is allowed to make repayments or additional payments without informing the bank.

·The borrower can redraw without informing the bank. · Monthly maintenance fee is required.
·Set up fee will be charged.

SEMI-FLEXI LOAN

· The borrower has to set up a savings account.
· The bank will deduct the instalment amount from the savings account.
· The borrower has to inform the bank to make repayments or additional payments.
· The borrower has to give two to five days to the bank prior to redrawing.

NON-FLEXI LOAN

· The borrower has to set up a savings account.
· The borrower has to inform the bank when making repayments.
· The borrower is not allowed to redraw without special permission from the bank.

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