Redraw Facility for Home Loan borrowers

As a Home Loan borrower you can tap into your loan’s Redraw Facility to give you access to extra funds.

How does it work?

Here is a scenario of an approved loan amount RM200,000 for a property purchased 10 years ago at the price of RM250,000. The current open market value (OMV) of the said property is at RM500,000.

This means that after 10 years of repayment your current outstanding balance is at RM100,000.

You can apply for a “top up loan” via Redraw Facility because your property’s value had increased from RM250,000 to RM500,000. Based on 80% margin against the latest open market value, you can obtain additional loan of up to RM400,000. After offsetting the current loan outstanding of RM100,000 , the top-up portion you can access is up to RM300,000.

*subject to the Bank’s assessment and approval

Click here for steps to apply via Maybank2u web

What can you do with the extra funds?

Anything you love, for example:

• Renovate & insure your home
• Invest to grow your wealth.
• Make your home environment-friendly! Install a solar PV system by GSPARX (A subsidiary of Tenaga Nasional Berhad) and save up to 90% on your electricity bills, hedge against tariff hikes and earn great returns.

Click here for a FREE consultation on Solar installation

• Existing Maybank customers with Mortgage Financing for more than 6 months with a good repayment track record.
• New customers who would like to refinance with Maybank

1. Submit your request online via Maybank2u

   Log in to Maybank2u to submit your request

   Login

2. Visit Us

   Application is available via your Maybank Home Branch (for existing borrowers); or if you would like to refinance with Maybank, please visit a branch near you by making an appointment on EzyQ

   Make An Appointment Now

   To apply, please prepare the required documents below:

   Required Documents
   Fully competed application form. Please download application form . A copy of NRIC/Latest valid passport Property Valuation report for completed property with Certificate of Completion & Compliance (CCC)
   Occupation	Additional Documents
   Salary Earners/Gainfully Employed	3 months’ salary slips with any one of the following (s): Latest 3 months bank statements Employer’s confirmation letter EPF statement EA form BE form with tax receipt
   Self-Employed	Latest 2 years of B Form/BE form or e-Filing receipt Latest 6 consecutive months of firm’s/company’s current account statement with any one of the following document(s): EPF statement Latest financial accounts
   Commissioner Owner	Commission statement (latest 6 months) with any one of the following document(s): EPF statement Latest financial accounts Bank statements

• Minimum property value must be RM75,000.
• Existing Maybank home financing customers of at least 6 months.
• The redraw amount depends on the current outstanding financing amount and the property’s current market value.
• Other terms and conditions apply.

Click here to see Mortgage Product Disclosure Sheet - Conventional (Eng | BM)

Click here to see Mortgage Product Disclosure Sheet (Islamic)

Click here to find out Mortgage fees and charges.

Click here to protect the valuables in your home with Maxihome Contents.

Click here to download the Mortgage application form.