RHB Vehicle Financing-i (Variable Rate) Flexi Redraw – save when you pay more/early, withdraw when needed

RHB has redefined its Vehicle Financing-i (Variable Rate) with Flexi Redraw – on top of variable-rate financing, which gives you overall savings when you pay more or early, you can withdraw from these excess payments when needed, giving you flexibility throughout.

Closer to a home loan than a conventional fixed-rate car loan, the product’s profit charges are calculated daily based on your remaining principal balance.

So even if you pay a few ringgit extra or a day earlier, you can reduce said balance and therefore decrease the profit charges (capped at 50% of your total original financing amount), giving you savings in the long run (see how much you can potentially save here). No penalties either if you settle your loan early.

Plus, Flexi Redraw allows you to withdraw from those excess payments you’ve made – always good to have an umbrella ready in case it rains, right? Withdrawal must be made over the counter and each withdrawal, which is subject to an RM18.50 withdrawal fee, must be RM2,000 or more and in multiples of RM1,000.

Eligible are those aged 18 and above, sole proprietorships, partnerships, private limited and public limited companies wanting to buy a new or new unregistered reconditioned hybrids, plug-in hybrids or battery-electric vehicles at a financing amount between RM150,000 and RM500,000. A guarantor is needed for non-Malaysians as well as those younger than 21 or older than 60. Learn more here.

The post RHB Vehicle Financing-i (Variable Rate) Flexi Redraw – save when you pay more/early, withdraw when needed appeared first on Paul Tan's Automotive News.