Refinance
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Switching costs usually include legal fees, valuation, stamp duty and any lock-in penalty.
Monthly saving
RM 175
Break-even in 46 months
- Current instalment
- RM 2,269
- New instalment
- RM 2,094
Estimate only.
Refinance packages
| Bank / package | Rate | Lock-in | Max margin | Est. monthly | Action |
|---|---|---|---|---|---|
| Selat Bank (sample)Smart Refinancerefinance | 3.92% | 2 yrs | 90% | RM 2,094 | |
| Merdeka Bank (sample)MyHome Financing-iislamicrefinance | 4.10% | 5 yrs | 90% | RM 2,134 | |
| Merdeka Bank (sample)Refi Cash-Outrefinancecash-out | 4.25% | 3 yrs | 90% | RM 2,167 |
Rates are indicative and maintained by EstateBuds, last updated 20/10/2026. Estimate only — the bank decides final rate and approval.
When it makes sense
- Your lock-in period has ended, so there is no penalty.
- The new rate is clearly lower, and you will stay long enough to pass break-even.
- You need cash-out for renovation and a refinance is cheaper than a personal loan.
Typical steps
- Compare packages and get an indicative offer.
- Valuation of your property by the new bank.
- Loan approval and letter of offer.
- A lawyer prepares the new loan documents and redemption.
- The new bank redeems your old loan; any cash-out is released.
Costs to budget
- Legal fees for loan documents (per the scale).
- Valuation fee.
- Stamp duty on the loan agreement.
- Lock-in penalty if you switch early.
This guide is general information, not financial or legal advice.