Compare Home Refinance Loans in Malaysia 2020

Compare the best Home Refinance Loans in Malaysia. Get the best interest rates from the banks, and apply online using our free Eligibility Check.

Home Refinance


Standard Chartered MortgageOne™
RM 2,094.56
2.95%
35 Years
90%
0 Years
Yes
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  • Best for loan more than RM 300,000

  • Interest calculated daily for greater saving

  • Suitable for completed house or under construction


Flexi Housing Loan
RM 2,108.02
3.0%
35 Years
90%
3 Years
Yes
More About This Product


  • For Malaysian only.

  • 3 year lock-in period.

  • First two years only BR +0.30% interest, thereafter BR + 0.45%.

  • Flexible repayment options


Alliance One Account
RM 2,503.80
4.4%
35 Years
95%
0 Years
Yes
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  • No lock in period.

  • No early termination fee.

  • Overdraft interest rate at 7.13% only.

  • No commitment fee for Islamic Overdraft


SMART Mortgage Home Financing
RM 2,135.08
3.1%
35 Years
95%
0 Years
No
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  • Processing fee waived

  • Stamp duty is waived

  • Peace of mind with MRTT coverage

  • Shariah-compliant


BSN MyHome (Residential Property)
RM 2,108.02
3.0%
35 Years
90%
0 Years
No
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  • Mortgage Reducing Term Takaful (MRTT) is required


BSN MyHome-i (Residential Property)
RM 2,108.02
3.0%
35 Years
90%
0 Years
No
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  •  Mortgage Reducing Term Takaful (MRTT) is required


BOCM Housing Loan
RM 2,108.02
3.0%
35 Years
90%
3 Years
Yes
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  • For Malaysian - or foreigner individuals with permanent resident status in Malaysia and residing in Malaysia.

  • 3 year lock-in period.

  • First two years only BR +0.30% interest, thereafter BR + 0.45%.

  • Set up fee waived.


Maybank London Residential Home Financing
RM 2,108.02
3.0%
30 Years
80%
3 Years
No
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Financing Amount


  • Minimum loan: £100,000.00

  • Maximum loan: £5,000,000.00

  • Currency : GBP Only 


 

 


HomeSmart-i
RM 2,135.08
3.1%
35 Years
90%
3 Years
Yes
More About This Product


  1. 3 years lock in period.

  2. 2% penalty on loan size*remaining month/ 36 mth.

  3. Flexi account set up fees waived, commitment fees RM10 every month.


HomeSmart
RM 2,135.08
3.1%
35 Years
90%
3 Years
Yes
More About This Product


  1. 3 years lock in period.

  2. 2% penalty on loan size*remaining month/ 36 mth.

  3. Flexi account set up fees waived, commitment fees RM10 every month.

Get RM4,500 Guaranteed Cash with HSBC Advance


  1. Refinance your Home Loan with HSBC HomeSmart to receive up to RM4,500 guaranteed cash.

  2. Click here to sign up.

  3. Promotion period: 4 August 2016 - 31 January 2017.

Showing 10 of 92 Packages

Frequently Asked Questions (FAQ)

Home refinancing means replacing an existing mortgage with a new loan under new terms and conditions to lower your monthly instalments or/and to get a better interest rate. Take note that refinancing can be expensive and time-consuming because you will need to do some research about which bank offers you the best interest rates. Having said that, it can really save you money and you may be able to pay less each month. 
 

 

First, you need to figure out what is your purpose of refinancing: It could be to get your hands on some extra cash to do renovations on your home or to consolidate other debts, or you want to get a better interest rate than you have now. 

Second, you will need to know how much is the outstanding balance of your current loan and make sure your lock-in period is over to avoid paying a fee. You can clarify this with your bank to assure that it has ended. If the period has not ended, check with your bank how much you need to pay for proceeding with a refinance and ask if the lock-in period is over. 

After that, make sure you know how much refinancing will cost you because there will definitely be costs involved (like Stamp Duty which is 0.5% of the loan). 

Additionally, get to know your credit score before you apply for a refinance loan. If you have had all your information straight and know what you can get out of your refinance, then apply for the refinance loans we offer on Loanstreet!

 

You should consider refinancing your loan after your lock-in period is over because otherwise, you will have the risk of paying fees for early termination for the loan you have now. Aside from that, you can also look at refinancing if your credit score has improved over the years. If you first took a home loan with a high-interest rate because you had a bad credit score, it may be a good idea to refinance now and settle for a lower interest rate. 

On top of that, if you have a lot of home equity and would like to renovate your home but currently do not have the funds in your account, it is also a good opportunity to take a refinance loan because you could take a higher loan than your actual current repayment is and choose for a cash-out refinance if you have a good credit score. This would help you to get more funds to pay for your needed renovation. 

 

This really depends on what you need. It can be because you needed the extra cash now for personal use, to get a lower interest rate and a lower monthly instalment or which can free up cash in your budget each month. Also, you could take a loan valued higher than your current outstanding balance. With this, you could consolidate your debts into one.

 

Assuming that you have a good credit score, a cash-out refinance would be possible. It is a way to refinance your loan and borrow money at the same time if your home has equity higher than your current payable loan. 

For example, if your home is valued at RM250,000 and you have an outstanding mortgage of RM150,000 that means there is RM100,000 in home equity. You could then loan RM200,000 which leaves you with some room to pay off other debts like a credit card which generally have a higher interest rate. 

 

Yes, it would be possible to consolidate your other debts with a refinance loan if you have a good credit score and enough home equity. You would be able to ask for a higher loan to consolidate your outstanding debts into one big loan, this could save you a lot of money on interest and you can keep track on one loan rather than remembering different due dates on several monthly instalments.