Why you have to choose AIA FIXED RATE Home Loan??
AIA HOME LOAN is a unique mortgage package to meet customers’ needs as it
protects customers from the volatility of interest rates.
Table 1 is the comparison of the potential impact on total interest payable
when BLR increases. For this example, let’s look at Package A – a floating rate
mortgage at an interest rate of 1st year: 2.88%, 2nd year: BLR+0.00%,
thereafter: BLR+0.25% for a tenure of thirty (30) years.
In
this table, for a loan amount of RM300,000, if BLR were to increase by 1.00%
and 2.00%, additional interest to be paid by borrowers would increase by
RM67,141 and RM136,912 respectively and loan would be lengthen by approximately
four (4) years and seven (7) years respectively (if the installment remains the
same).
With
fixed rate mortgages, interest rate is fixed whereby customers need not worry
about fluctuations of interest rate for the entire tenure of the loan.
UP & DOWN of Interest Rate
Analysis of the lending rate over
the past thirty two (32) years can only give us a historical guide of the
interest rate cycle. Based on figures provided by Bank Negara (for the period
between 1980 to 2011), the average Base Lending Rate (BLR) for commercial banks
is 7.87% a year with an average lending rate of 9.35%.
AIA Fixed Rate Home Loan is the best fixed rate home loan in Malaysia. It gives you the absolute control of the interest rate and installments.
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