List of Malaysian Banks
Everybody needs a bank loan when buying a home, unless you’re the few that pay everything in cash (!). In Malaysia, there are 10 local anchor banks, most of them (if not all) are actively marketing your home loan packages during these good times for property investment.
There used to be many, many local banks, not to mention the small finance companies, but some years back during the financial crisis Bank Negara Malaysia (the Malaysian central bank) sought to consolidate the industry by mergers, so we now have 10. There is talk of another round of mergers down to 6 anchor banks, but there is no announcement yet.
Other than the 10, there is another 2 Islamic banks (also listed below). These are not including a few more development finance and savings institutions like Bank Rakyat and Bank Simpanan Nasional. For home loans, any one of the 10 banks will do. Number in parentheses is the telephone number.
For more on the home loan offered by local and foreign banks, yo ucan check out this series of articles in Property Malaysia:
Home Loans by Malaysian and Foreign Banks Part 1 : Local Banks
Home Loans by Malaysian and Foreign Banks Part 2 : Best selling Islamic Banks Loans
Home Loans by Malaysian and Foreign Banks Part 3
Local Banks:
Affin Bank Bhd. (+603 2055 9000)
Alliance Bank Malaysia Bhd. (+603 2694 8800)
Arab-Malaysian Bank Bhd. (+603 2026 3939)
Bumiputra-Commerce Bank Bhd. (+603 2693 1722)
EON Bank Bhd. (+603 2694 1188)
Hong Leong Bank Bhd. (+603 2164 2828)
Malayan Banking Bhd. (+603 2070 8833)
Public Bank Bhd. (+603 2176 6000)
RHB Bank Bhd. (+603 9287 8888)
Southern Bank Bhd. (+603 2087 3000)
Islamic Banks:
Bank Islam (M) Bhd. (+603 2693 5566)
Bank Mualamat (M) Bhd. (+603 2059 1389)
In addition to that, foreign banks also have a large presence in the country, and some like Citibank and HSBC are working closely with developers to offer home loan packages.
Foreign Banks:
ABN Amro Bank Bhd. (+603 2162 7888)
Bangkok Bank Bhd.(+603 2072 4555)
Bank of America (M) Bhd. (+603 2032 1133)
Bank of China (M) Bhd. (+603 2169 8117)
Bank of Tokyo-Mitsubishi (M) Bhd. (+603 2034 8080)
Citibank Bhd. (+603 2383 8585)
Deutsche Bank (M) Bhd. (+603 2053 6788)
HSBC (M) Bhd. (+603 2070 0744)
JP Morgan Chase Bank Bhd. (+603 2270 4111)
Bank of Nova Scotia Bhd. (+603 2161 0766)
OCBC Bank (M) Bhd. (+603 2692 0344)
Standard Chartered Bank (M) Bhd. (+603 2117 7777)
United Overseas Bank (M) Bhd. (+603 2692 7722)
well there’s always insurance companies - ING and AIA for loans. no lah, I don’t work for them.
Comment by totoro — October 6, 2005 @ 2:47 pm
Local banks give the best rates so far compared to Foreign ones
Comment by S-Kay — October 7, 2005 @ 3:17 am
totoro,
ok, maybe next time we do a write up on insurance companies… thanks for the tip.
s-kay,
really? but sometimes the foreign ones are more aggresive…
Comment by Administrator — October 7, 2005 @ 6:05 am
Great source!
Comment by jlchannel — October 7, 2005 @ 4:49 pm
s-kay, can you give an advice on local banks vs foreign banks? i am looking at getting a loan (trying hsbc). cheers
Comment by tkodino — October 7, 2005 @ 11:06 pm
Most of us will think local banks always offer a better rate of interest compare to foreign banks. But, that is wrong. Actually Citibank, HSBC and Standard Chartered, their product might be offer good saving in interest for long term period investemnt. Example, Mortgage One Account from Standard Chartered or Flexi Home from Citibank.
Comment by Eric — October 8, 2005 @ 3:11 am
choosing a housing loan needs careful analysis of what the potential financiers have to offer. Do not be blinded with the big & bold print of the offer but keep your eyes wide open with the small and fine print of the Letter of Offer and its attachment, which most of the times, the potential borrowers did not bother to read. Finally, after going through this, please analysis your own financial standing, the monthly committment, other expenses to be paid and finally other factors that the financiers can provide for you for the next 20 years or so.
Comment by chilek — April 13, 2006 @ 11:02 am
It will be good if there is an article on step by step on things to look out for when choosing a home loan.
Comment by apfoong — April 14, 2006 @ 11:45 am
currently in the market there are 2 insurance companies offer fixed rate home loan, ING and AIA. FYI, average BLR for past 20+ years (1980 to now) was more than 8.5%.
Comment by xen — April 25, 2006 @ 12:35 pm