Description

Allows customer the option to redraw accumulated excess funds in their loan account during the loan tenure.

Property Type

Completed and under construction

NB : redraw is allowed only after the house has been fully completed and the loan amount has been fully disbursed

Minimum Loan Amount

RM100,000 and above (including MRTA)

Interest Rate

Similar to the existing MY1 Flexi packages

Fee

a) Processing fee :

• Loan size of RM100,000, processing fee of RM100
• Loan size of above RM100,000, processing fee of RM200

NB : Processing fee is to be debited into the loan account together with the 1 st disbursement

b) A redraw fee of RM50 per transaction
   (to be debited into the Standing
   Instruction account)

Standing Instruction account

Standing Instruction (SI) account (1st party) in the name of the borrower is mandatory for the purpose of crediting the redrawn funds, upon request.

Terms and Conditions

1. The Housing Loan/Term Loan must be fully disbursed (including the OD portion, if any) and customers have made partial prepayments (via trans code 8089).
2. The original tenure of the Housing Loan/Term Loan has not expired;
3. The Housing Loan/Term Loan is not fully repaid and/or the security thereto is not discharged or cancelled;
4. Partial prepayment made into the loan account when the loan is not fully disbursed is not allowed to be redrawn;
5. The loan repayment must be up-to-date at the point of the redraw request;
6. Each redrawing shall be at a minimum of RM1,000-00 or such other amount as the Bank may at its discretion prescribe from time to time;
7. Only one redraw per day is allowed;
8. The redrawn funds will be made available on the following business day upon receipt of the redraw notice (in the Bank’s prescribed format) by 2pm;
9. No event of default shall have occurred or is continuing at the time of the proposed redraw;
10. The redraw must be made at the branch of the Bank where the loan account is maintained;
11. The redraw shall not affect any obligation to pay the monthly installments of the Housing Loan/Term Loan when due;
12. All redrawn amount will be credited into the Standing Instruction account of the Home Loan/Term Loan and customer can utilise the funds via ATM or cheque book;
13. The redrawn amount will be debited into the existing Loan account;
14. The original monthly installment amount shall remain throughout the loan tenure;
15. For third party charge / guarantor, where applicable, an Irrevocable Letter of Consent shall be obtained from the 3 rd party registered/beneficial owner and/or guarantor together with the execution of the loan documents;
16. Redraw Form will be made available at all RHB Bank Branches and in www.rhbbank.com.my
17. Redraw is not allowed when the account is classified PNPL/NPL. However, once the PNPL/NPL account is de-classified for a period of 6 months, redraw is allowed.

Any amount redrawn :-

1. shall form part of the principal amount of the outstanding Housing Loan/Term Loan and shall continue to be secured by the existing security documents for the Housing Loan/Term Loan;
2. shall not extend the tenure/repayment period of the Housing Loan/Term Loan as specified;
3. Notwithstanding the Bank may at its absolute discretion without giving any reasons disallow a redraw request.

CCRIS and CTOS check

CCRIS and CTOS check are not required in view the borrower is redrawing the excess amount prepaid.

EPF withdrawals

Payment from EPF will be channeled to transaction code 8090 which will not be routed into the Redraw Bucket.