Loan and Financing

car market value

If you are looking for market price or value for your car, you are at the right place. I am going to show you how to get it for free. The services are not limited to car only but to other vehicles as well. Other service providers such as ISM Insurance Services charge you RM10 per inquiry.

You may need car market price or value for the purpose of renewing car insurance, selling your existing car or buying second hand car.

Below are 5 easy steps on how to get it.

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hire purchase

If you plan to buy a new car and do not know which banks give the best interest rates, you are at the right place. Just bear in mind that, the rate listed below are for new cars only.

The table below shows the current hire purchase or car loan package that banks in Malaysia offer as in March 2010 for comparison purpose. The package may change, so for confirmation, you can check with the respective bank.

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interest rate

With recent hike of Overnight Policy Rate (OPR) by Bank Negara Malaysia (BNM), Banks do not take a long time to raise BLR and BFR. The first bank to raise the BLR is Bank Simpanan Nasional.

BLR normally used in conventional loan package while BFR normally used in Islamic loan package. However, most of the time BLR & BFR figures are the same.

The table below show the latest BLR or BFR rate for most of banks in Malaysia as at 12th March 2010. This table is no longer maintained. The latest rates can be found on this page.

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interest rate

Following Bank Negara decision to increase the overnight policy rate (OPR) by 25 basis points last week, banks have begun to raise their base lending rates (BLRs). Bank Negara last week increase the OPR from 2% to 2.25%. Bank Negara raised the OPR as the economy has improved significantly and returned to its path to recovery.

So far BSN, Maybank, CIMB Bank, Public Bank, Hong Leong Bank, RHB Bank, Standard Chartered & HSBC announced their interest rate hike by 25 basis points from 5.55% to 5.8%. Other banks are expected to announce their decision soon. On the bright side, the increase in OPR & BLR also will result in increase in the interest gain from saving account, current account and fixed deposit.

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overdraft

We are talking about two different term here, ASB & Overdraft. Everyone knows ASB is an investment fund that managed by ASNB, PNB’s wholly owned subsidiary. ASB is giving very attractive return & one of the highest paying dividend fund.

While, an overdraft (OD) is a type of bank loan facility where we are allowed to withdraw money from current account exceeding the available balance. The benefit of OD is, the interest is charged on overdrawn amount from your OD account on daily rest. This will be beneficial if you only need a short term loan. Comparatively interest rate for personal loan is charged on total loan amount

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