Hi All,

What is the differences between the two and which is more liable for consumer?. Please share your experience. Thanks in advance!

HI, first of all u need to decide whether u r going for normal term loan or a flexi loan.
Normal term loan works like car loan. Fixed installment Based on the tenure. Simple and straight forward.
For normal term loan, either one will do. However I would recommend conventional for this bcoz Islamic loan in the long run is not really worth it!!
For flexi loan, go for Islamic type bcoz most of the Islamic flexi package in the market does not require set up/processing fees and monthly maitenance fees. ( RM200 upfront + RM10/monthly).
As long as u use the flexi facility to full, u will not lose even in the long run.
BTW, just for your info Hong Leong Bank's islamic term loan does not have lock in period. The catch is provided within 5 yr, the bank does not make lost. Calculated Based on COF vs IFR.
My recommendation : Normal term loan--> PBB, SCB (KLIBOR Based)
Flexi loan ---> CIMB, Alliance, HSBC( they still provide competative rates & on the same time
absorb legal cost, stamp duty, valuation)*only till end of this year.
Hope it helps.

Jason, I have no idea about these things until you just mentioned it! Thank you so very much for sharing!
You're SUPER AWESOME!!

Thanks for your advice- it's is helpful...

Can non-muslim apply Islamic Mortgage?

To me I prefer flexi loan. This allow me to dump in advance to reduce my interest. Usually banks will set conditions that you can only dump in multiple of thousands without notice. Else it will be treated as advance for next mth or so.

if conventional loan for example like car loan, let say you pay rm500/mth. You dump RM2000 one time. Which means it will deduct RM500 for 4 mths.

To reply for Nia query:

Its open to all races and Non-Muslim.