How to save your housing loan interest

Since the fuel price increase, the related product like brick, steel, cement and other building material price also increase. A example like a house may be cost RM100,000 before that already increase to RM130,000. The housing cost increase also cause someone can’t buy a new house. The important for buying a new house is how to get better housing loan to save the interest.

In Malaysia, normally we get the housing loan from bank either local for foreign bank. The bank will be provide a few package for us to choice. If we want to save the interest, then we must take the lower interest. A example, package A offer BLR – 2% for first 5 years then BLR – 1.5 % for balance; package B offer fix rate 4.8%. If take the package A, we need to take risk for BLR increase for next few years; take the package B more save for long term.