Taking a loan as MM2Her

Old Nov 10th 2020, 4:48 am
  #1  
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Default Taking a loan as MM2Her

So far I paid everything "cash" in Malaysia, not even thought of a loan as the priority was to get out 150k from the mandatory FD as fast as possible.

But as this is done now and the interest rates are so low now I am thinking of buying the next car with a loan.

Anyone has done this before? Guess the procedure will be not as standard as we MM2Hers have no local salary.
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Old Nov 10th 2020, 8:21 am
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Default Re: Taking a loan as MM2Her

Originally Posted by eCdD View Post
and the interest rates are so low now
In case you are interested: my MM2H FD recently had its annual renewal. The interest rate went down from 3.8% last year to 2.1% for the coming year (at CIMB).
I have no experience with taking out a loan in Malaysia.
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Old Nov 11th 2020, 3:52 am
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Default Re: Taking a loan as MM2Her

Yes, this is the new normal now.
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Old Nov 20th 2020, 11:06 pm
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Default Re: Taking a loan as MM2Her

I am here as LTSVP, we've looked into a loan before but with no income in Malaysia would have had to rely on our foreign income and that is not considered unless it is from Singapore. Went all through the loops of getting certified statements from agents etc. it would appear that it is a bank negara rule. Both my wife and I have separate income from investment and property in the UK but no use.
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Old Nov 22nd 2020, 8:45 am
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Default Re: Taking a loan as MM2Her

I am in the process right now, no result so far. Actually the bank took the salary documents from Europe and the banking slips from there as well. If they make any use of it I don´t know. As I have a lot of FDs running in Malaysia and Singapore, also long term, that were the main documents I submitted.
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