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Saturday, January 2, 2010

Maybank begins 2010 with new mortgage schemes

KUALA LUMPUR: Malayan Banking Bhd (Maybank) kicked off the new year by launching two mortgage packages – new MaxiHome and MaxiShop Fixed Rate – which offer a variety of three, five or 10-year fixed rates.

“These two exclusive packages are offered from Jan 1 to June 30, 2010,” head of consumer banking, senior executive vice-president, Lim Hong Tat said in a statement.

The MaxiHome package is aimed at customers seeking interest rates stability and sustainable cashflow during the initial first few years of property purchase, with less worry on base lending rates (BLR) fluctuation in the near future.

The package offered the best in town for fixed-rates home loans starting as low as BLR minus 1.8% for property under construction and completed properties, Lim said.

As for the MaxiShop, rates are as low as BLR minus 1.40% for those under construction and for completed properties.

Lim said the fixed rates allowed property purchasers the option to select a fixed-rate scheme which best suited their financial needs for a given period of time before the loan switched to variable rates pegged against the BLR, upon expiry of the fixed-rate tenure.

By Bernama

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