I have a housing loan with Maybank. So I want to know how to reduce the principal. So I called Maybank call centre and according to the call centre, I need to deal directly with Maybank branch where I applied my housing loan.
If you don’t know the branch phone number you can get it from Maybank call centre.
When I call to Maybank branch where I applied my loan, the person in charge informed me the steps.
1) Transfer Extra Payment Directly to Maybank Housing Loan
- The extra payment is parked at advance payment but the outstanding loan is still be reduced
2) Outstanding Loan will be Automatically Reduced
3) If Advance Payment is More than the monthly payment, Standing Instruction (SI) is automatically stop for next payment cycle (If you pay from SI)
4) If you want Advance Payment to be transferred directly to Loan Principal
- Go to any Maybank branch to give instruction to transfer the advance payment.
- It requires customer thumb print to do this thats why have to go to the branch.
Notes:
- I called Maybank on 3rd May 2021.
- Please verify with your branch to double confirm