| 1. |
Q: |
What would be the longest tenor for the housing loan? |
| |
A: |
The longest tenor is 35 years. |
| 2. |
Q: |
What is the biggest amount that the applicant can
apply for the housing loan? |
| |
A: |
The biggest loan amount will be 90% of the purchase
price or our bank’s valuation on that property. |
| 3. |
Q: |
Is there any handling charges for the application
of the housing loan? |
| |
A: |
There is no such charges. |
| 4. |
Q: |
What is the information needed for applying
the loan? |
| |
A: |
The applicant’s identity card, income declaration,
the past bank record for at least six months and the promissory sales
and purchase agreement. |
| 5. |
Q: |
Is there any penalty for partial repayment? |
| |
A: |
There is no such penalty for partial repayment. |
| 6. |
Q: |
If the borrower settles the loan before the due date
of the loan, will there be any extra fees? |
| |
A: |
An additional fee will be charged if the loan is cleared within 3 years. It is calculated as follows: 3% for the first year, 2% for the second year, 1% for the third year. No additional fee will be charged after the third year. |
| 7. |
Q: |
Is fire insurance required for the premises
under mortgage? |
| |
A: |
Yes, fire insurance is required for that premises. |
| 8. |
Q: |
How long does the bank require to access
the loan application normally? |
| |
A: |
The accessment will normally be completed within
24 hours once the necessary documents are provided. |
| 9. |
Q: |
What information is required for applying
a commercial loan? |
| |
A: |
The applicant is required to provide his identity
card, the promissory sales and purchase agreement, the land title
certificate of the security, the past bank record of the company
and the applicant for the past six months, Business registration
form (M1) and Industrial tax receipt (M8).
|
| 10. |
Q: |
Will the applicant be charged a floating
or a fixed interest rate? |
| |
A: |
A floating rate will be charged. |
| 11. |
Q: |
Does the applicant need to pay charges if
the application is rejected? |
| |
A: |
No charge is required. |
| 12. |
Q: |
If the applicant decides not to accept the
loan offer after the application is approved, will there be any
charges? |
| |
A: |
If the terms do not meet the applicant’s requirement,
no charges is required; otherwise, a handling fee will be charged. |
| 13. |
Q: |
Is mortgage reassignment application accepted
by your bank? |
| |
A: |
Yes, our bank provides this service. |
| 14. |
Q: |
Is there any charges for mortgage reassignment
application? |
| |
A: |
There is no charges for mortgage reassignment application. |
