Maybank-Maybank Maxi Home (conventional)

Up to 35 years

Semi-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

Maybank Maxi Home

A popular conventional home loan which lets you bundle moving costs into your finance package

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

You Borrow

Estimated Interest Rate

more than RM100000

4.35% p.a.
  • *Effective interest rate will be determined by Maybank upon approval.

 

Fees & Charges

There are always fees but how much are they?

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

Withdrawal Fee - RM26.50 for each withdrawal

Processing Fee - No Fee

Early Settlement Fee - Subject to terms of agreement with bank

Redemption Letter Fee - RM53.00 per request

Letter for EPF Withdrawal Fee - RM10.60 per request

Insurance Types - MRTA

*inclusive of 6% GST

 

Requirements

Are you eligible for this Maybank home loan?

Minimum annual income - RM24000

Minimum age - 25 years old

Maximum age - 70 years old

Who can Apply - Any nationality

 

Frequently Asked Questions about Maybank Maxi Home

Things you might want to know

 

What do I need to know about Maybank MaxiHome Plus?

MaxiHome Plus is a conventional housing loan with a variable interest rate pegged to the BR. This home loan option is non-flexible in the sense that you're not able to deposit additional cash and you can't withdraw any money from the loan.

The finance margin is usually up to 90%. Maybank offers an additional 5% loan for the consolidation of related expenses, that’s a grand way of saying that extra costs, such as term assurance, legal fees, and evaluation fees, can be added to your total borrowing. Really important to note that the interest rate is lower if you take up this capitalization option.

You can request for a 90% margin + 5% for MRTA if this is your first home loan. However, the approval is subject to a bank credit check. Maybank may request for additional security such as fixed deposits or a guarantor depending on outcome. Best to consult the Bank Loan Officer personally if you are considering this option.

 

Why should I choose Maybank MaxiHome Plus?

Some great things about this mortgage

You can include capitalisation-related expenses like legal fees, property valuation fees, and MRTA premium into your loan so that you don't need to come up with extra cash to finance buying a house. The bank even gives you a lower interest rate for this option.

This loan is ideal for properties under-construction as you can choose to: 1. pay nothing during the construction period, or 2. service the interest portion only during construction, or 3. have the proper monthly loan repayment start immediately.

 

Some not so good things about this mortgage

It is a non–flexible housing loan. You cannot pay additional cash to decrease your principal throughout the loan period, however you can pay advance installments which might help you manage your budget.

The loan does not offer withdrawal of surplus cash.

 

Do I need any insurance?

Fire Insurance and Mortgage Reducing Term Assurance ( MRTA) is compulsory. MRTA settles your outstanding mortgage should anything happen to you. The one-off premium is calculated based on your age, loan/financing amount, tenure of home loan and interest rate. It can be paid with cash up front or included in your loan to minimise the initial cash outlay required.

 

Can a foreigner apply for this mortgage?

Yes, however you must be borrowing more than RM500000.

 

What documents do I need to apply for this home loan?

If you are an employee earning a salary:

Copy of MyKad (front and back) or latest valid passport & Visa / Work Permit / Employment pass
Last 3 months salary slips or vouchers
Last 6 months commission statement if under commission-base salary
Latest EPF statements with 3 consecutive months or more transaction history
Latest EA (Tax) Form
Last 6 months Bank Statement
Letter of Confirmation of Employment and Remuneration from your employer

 

If you are self-employed:

Copy of MyKad (front and back) or latest valid passport & Visa / Work Permit / Employment pass
Business Registration Certificate – Form 24 and Form 49
Last 3 month’s bank statements
Latest BE form with income tax receipt