Saving Money..

Here's my contribution to the Malaysian Public..

This is a sample letter to reduce your home mortgage interest rate as well as to increase your principal repayment so that you play less interest:

Manager,

Housing Loan & Mortgage Department,

CIMB Bandar Puteri,

Bandar Puteri Puchong
12 Jalan Puteri 1/1
Bandar Puteri
47100 Puchong
Selangor

Tel : 603 - 8060 3634 / 8060 3731
Fax : 603 - 8068 1544

Dear Sir/Madam

Re: Reduction of Interest Rate & Increase Of Monthly Principal Amount Payment for A/C: xxxxxxxxxxxxxxx.

I would like to request that the interest rate on my loan be reduced. My current rate of BLR - 1.9 is currently not competitive and I believe my solid payment history over the last years demonstrates my value to you as a customer.

2. From the information I have received from your institution, the current package you are offering your new customers are much better. I am expecting that such rates can be extended to me due to my loyalty to your bank, and further extended for the next 5 years.

3. I would also like to increase the ratio of my monthly installment towards the reduction of the principal amount of my mortgage, instead of heavily skewed towards the accrued interest.

Thank you in advance for your attention to this matter and please do not hesitate to contact me if you require further information.

Kind Regards,

Phone Number:

Email Address:

Account Number:

*BLR = at the time of writing