I haven't been blogging for quite some time and I don't really like that. I always believe that good bloggers need to blog on regular basis. I always enjoyed good blogs that I subscribe via my Google Reader. Blogging is like online freelance journalism. People will always come back for good journalism.
In order to kick start my blog running again, I shall try to blog every month. As time goes by, I shall try to blog every fortnight, before finally settling to blog every week (most ideal situation for myself). I don't really have that much time to blog usually, so I shall try to at least dedicate good 20 minutes to write every entry.
At the moment I am trying to get an Islamic overdraft (OD) with Maybank. After reading almost all ASB backed OD at Matjoe's blog. I decided that I shall give it a try. I am going for Islamic OD as I am kinda religious person (at least I like to think that I am) or more correctly, at any given time if I can get to use an Islamic product or alternative, I shall try. Before explaining further I suggest that you read Mat Joe's excellent write up on the issue.
Some of the challenge I have encountered during the whole process:
1) Less knowledgeable Loan Officer : 1st branch I go to was the Maybank branch at Sea Park (as it was near my house). I thought a place nearer should be better. The loan officer end up telling me that it is not possible to get an Islamic OD against ASB. However when I tried going to Bangsar's Maybank branch, the officer there informed me that it is actually possible, only that it has to be done manually therefore it shall take a longer time (a lot lot longer time as I soon discovered).
2) You will need to have a credit line more than RM10k. Maybank will give you a credit line or loan to a minimum of 10k meaning your ASB Certificate would need to be worth at least RM12k. I made a mistake of just making a 10k cert so I have to to up an make another Cert worth RM12k (costed me another RM10 & another LRT trip to PNB plus valuable time).
3) Maybank very slow.. Almost 1 month already from my ASB Cert date and I still yet to see any Loan Offer letter. However, only Maybank offers Islamic OD against ASB so far, therefore I am being very patient. I am not a big fan of Maybank actually, but my Saving Account is with Maybank along with my credit card. They do have good products line up but they customer service really suxx. What I do now is to call my loan officer every fortnight and ask him for an update. That's the only way to speed things up in a GLC, constant never ending follow ups (I should know better, I am working in one as we speak).
4) Higher profit rate: BFR - 0% instead of better rates by CIMB or RHB. Again the only bank to offer a product that you want rule.
I guess that's it for now, I shall update more should more progress comes my way. Hope you guys enjoy my long lost post =) Adios!~~
P/S: I took about 50 minutes to write this post. Got to think and type faster.
P/P/S: Next time I shall write about one of these topics 1) 0% Balance Transfer by Credit Cards, 2) My Current Credit card, 3) Random personal thoughts. Any preference you readers?