• RHB Malaysia Residential Property Financing

    Home Loan BYTES FROM OUR KITCHEN

    Malaysia is one of the advanced economies in Asia and the country is also very friendly to foreigners. It is a beautiful country that has a rich cultural heritage and is very popular for its bio diversity. Thus, it is not surprising that many people want to spend their vacations in this magnificent country located in Southeast Asia. If you would like to own a property in Malaysia so that you can spend your vacations there or if you just want to invest in the real estate market there, you can opt for an overseas property loan offered by RHB Bank in Singapore. The bank finances the purchase of Malaysian properties through its RHB Malaysia Residential Property Financing scheme.

    Overview of RHB Malaysia Residential Property Financing

    RHB offers a variety of banking products, solutions and services in Singapore including home loans. Although based in Malaysia, RHB has a strong presence in Singapore and is regarded as one of the top banks in the island. RHB Home Loan products are very popular with customers in the Lion City as they offer attractive interest rates and a range of other benefits. RHB Malaysia Residential Property Financing is a type of home loan product that offers people in Singapore with the required finances to purchase residential properties in Malaysia.

    Why choose RHB Malaysia Residential Property Financing?

    If you want to finance your dream home in Malaysia, you can opt for RHB Malaysia Residential Property Financing. With a high loan amount, you can easily purchase the property that you like and will not have to spend a lot of money on making the initial down payment. The process of applying for the loan is very simple and it can be processed and approved within a short period of time.

    Features and Benefits of RHB Malaysia Residential Property Financing

    • You will enjoy attractive interest rates with the loan and so your cost of borrowing will not be very high.
    • You can avail up to 80 percent of the purchase price of the property as a loan.
    • You will enjoy flexible repayment tenures of up to 30 years.
    • You will benefit from the excellent quality of service offered by the bank.
    • Apart from availing a loan for the purchase of a property, you can also opt for refinancing of your existing loan.
    • If you are a premier banking customer, you will get a discount of 0.050 percent for the first 2 years on the interest rate charged with the loan.

    RHB Malaysia Residential Property Financing Interest Rates

    Year Interest Rate
    1st Year 2.88 percent per annum (3.12 percent less than MBR)
    2nd Year 3.18 percent per annum (2.82 percent less than MBR)
    3rd Year 3.38 percent per annum (2.62 percent less than MBR)
    Henceforth 3.38 percent per annum (2.62 percent less than MBR)
    Loan Lock in period 2 years

    Currently, the Malaysia Property Board Rate 2 (MBR) is at 6 percent and it can be changed by the bank without any prior notice.

    Eligibility

    • You should be a Citizen or a Permanent Resident of Singapore OR a Foreigner living in Singapore.
    • You should be aged 21 or above.
    • You should have a steady source of income.

    Documents Required

    You will need to submit the following documents when you apply for a loan under the RHB Malaysia Residential Property Financing scheme:

    • A copy of your NRIC (front and back)
    • Income Proof:

      • If you are a Salaried Employee, you will need to submit the following proof of income:

        • Latest Payslip (Computerised) and Notice of Assessment for Income Tax OR
        • Latest Payslip (Computerised) and latest CPF Contribution Statement for the last 12 months
      • If you are a Self-Employed Individual, you will need to submit the following proof of income:

        • Last 2 years Income Tax Notice of Assessment (NOA)
    • In case you earn rental income, you will need to provide Tenancy Agreement (Stamped) and the agreement should show a minimum lease of 6 months
    • The following documents should also be submitted with all the applications:

      • A copy of your HBD Loan statement
      • Latest statements of all your debts such as credit card, personal loan etc. from all the lenders
      • You will need to submit the following documents for the purchase of a property:
      • Reservation form / Booking form / Contract of Sale / Sale and Purchase Agreement
    • In case you opt for Refinancing, you will need to submit the following documents:

      • Your latest loan statement that should show your repayment history for the last 12 months along with the latest statement that shows the outstanding loan amount; and any of the following documents:
      • Sale and Purchase Agreement or Exercised Option to Purchase Agreement
      • Stamp Duty Certificate for the purchase of the property of your choice
      • Title Deeds (copy)

    Explore the Other Overseas Property Loans Offered By Banks:

    Explore the Other Loans Offered By RHB Bank:

    Frequently Asked Questions (FAQs)

    1. What is the minimum interest rate charged with the loan?
    2. The minimum interest rate charged with RHB Malaysia Residential Property Financing is 2.88 percent per annum, for the first year.

    3. What is the maximum loan amount that I can avail with this property loan offered by RHB Bank?
    4. You can avail up to 80 percent of the purchase price of the property as a loan.

    5. What is the maximum repayment period offered with RHB Malaysia Residential Property Financing?
    6. The maximum repayment period offered with RHB Malaysia Residential Property Financing is 30 years.

    7. What is the current Malaysia Property Board Rate 2 (MBR)?
    8. At present, the Malaysia Property Board Rate 2 (MBR) is at 6 percent. The bank can change the rate at any time without any prior notice.

  • reTH65gcmBgCJ7k
    This Page is BLOCKED as it is using Iframes.