CIMB Bank- CIMB HomeFlexi (conventional)

Up to 35 years

Flexi loan

Floating Interest Rate

3 years lock in period

Up to 90% margin

30 days approval


Borrowing RM Monthly Repayment
RM


Profit Rate

%
How Long Year
max 35 Year
Flexi/Term Lock in Period Islamic or Conventional
All Flexi Term All Yes No All Islamic Conventional

CIMB HomeFlexi

Get a really flexible home loan and deposit any amount, at anytime - combines loan with CIMB bank account for easy access to excess mortgage payments

    • Up to 35 years
    • Flexi loan
    • Floating Interest Rate
    • 3 years lock in period
    • Up to 90% margin of finance
    • 30 days approval
    •  
  •  

You Borrow

Estimated Interest Rate

RM100000 - 199000

5.35% p.a.

RM200000 - 349000

5.25% p.a.

RM350000 - 499000

5.05% p.a.

more than RM500000

4.95% p.a.
  • *Effective interest rate will be determined by CIMB upon approval.

 

Fees & Charges

There are always fees but how much are they?

Late Penalty Fee - 1% p.a. of the outstanding amount

Processing Fee - RM212.00

Monthly Fee - RM10.60

Early Settlement Fee - Subject to terms of agreement with bank

Redemption Letter Fee - RM53.00 per request

Letter for EPF Withdrawal Fee - RM21.20 per request

Insurance Types - GMTA

*inclusive of 6% GST

 

Requirements

Are you eligible for this CIMB home loan?

Minimum annual income - RM24000

Minimum age - 18 years old

Maximum age - 70 years old

Who can Apply - Malaysians

  • Permanent Residents
  •  

Frequently Asked Questions about CIMB HomeFlexi

Things you might want to know

 

What is CIMB HomeFlexi?

HomeFlexi from CIMB is an easy to understand flexible home loan that lets you pay extra money onto your mortgage when you can afford it, and withdraw excess cash from the loan direct to your current account whenever you need it.

Subject to credit check and approval CIMB will be able to finance up to 90% of the value of your property for your first two properties and 70% for subsequent properties, so if you're thinking of getting into the property development game this is a handy to know about.

You can also opt for an additional 5% of finance on each zero moving cost mortgage that will go towards legal fees, valuation fees, and the inevitableGMTA.

HomeFlexi covers properties which are completed and under construction. You only have to service the interest rate for properties which are under construction, another useful feature for the budding property tycoon.

 

What are my commitments with this mortgage?

Your commitment is your monthly repayment. This is calculated from the difference between the loan amount and the balance of your linked current account; that's a calculation that can result in significant savings on interest if you maintain a healthy balance in your day to day banking account.

By the end of the home loan term you will have paid the principal amount of the loan plus all the interest. The more you pay on top of your minimum monthly payment, the less your interest payments will be for the next month.

 

Do I need insurance with this Home Loan?

Group Mortgage Term Assurance ( GMTA) is optional, but in most cases highly recommended to hedge the risk of losing your family's property due to unforeseen circumstances, such as illness, accident, loss of employment or worse. Fire insurance is compulsory for most mortgages.

 

What are the risks associated with this loan?

The interest rate on CIMB's HomeFlexi may change as and when the Base Rate ( BR) changes. However, loans that are already approved before the start of 2015 will still follow the old BLR until the end of the mortgage tenure.

An increase in interest rate may result in higher monthly repayment. If you have problems meeting your loan obligation, feel free to contact CIMB to discuss payment alternatives. Always talk to the bank if you have trouble making your mortgage payments, they'll be happy to hear from you and usually pleased to help.

 

Why should I choose the CIMB HomeFlexi?

A good way to gauge this would be to see what kind of income you are earning. The HomeFlexi offers benefits to someone who does not earn a regular wage and has extra cash lying around.

If you can make spare cash work for you in reducing mortgage interest you can save a fortune. You won't see it immediately but depositing excess amounts into your linked current account will lower interest rate charges on your home loan by a significant amount!

Lastly, if you like free things, and everyone does, you get to collect 0.1 reward point on every RM1 of borrowings - just one of the novel things about aCIMB home loan!

 

Who can apply for this loan?

Malaysians and permanent residents - including foreigners who are here under the Malaysia My 2nd Home plan ( MM2H).

What documents are needed when applying?

Salaried applicant:

NRIC photocopy
Latest 3 months’ salary slip
EA form / EPF statement (last 2 years)
Sales & Purchase Agreement / Booking receipt from developer

Self-employed applicant:

NRIC photocopy
Latest 3 months' salary slip
Sales & Purchase Agreement / Booking receipt from developer
EA form / EPF statement (last 2 years)
Business registration A&D
Last 3 months bank statement