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Housing Loan / How AmBank Milk The Customer

1 Malaysia Review updated:

Palestinian and Israel situation in Malaysia

This is how AmBank gave their customer. I have problems paying my housing installments, so I took RM13, 000 from my KWSP to pay my house installments. But AmBank refused to take it as installments payment but as one time payment. This only benefited AmBank only. They continued to charge me late payment penalties and interest that very month itself.

As it is not fair to me and the fault with the bank, I refused to pay all the penalties and interest. Technically, I had over paid them by about 18 months installments. They continue to add penalties every month and interest, they like and the amount add up fast as they charged legal fees into my account and the amount gets even higher, even with my monthly payment of the house installments.

In the meantime, I requested for past Statement of Accounts (SOA) from AmBank, instead of getting the SOA, I got legal letters and more penalty charges. Like the Israelis they keep attacking me. The moment I wrote a letter to complain about their inefficiency, I launch rocket at them they fired back with missiles. The more letters and visit to Bank Negara, the more missiles they fired at me, with more legal fees, more penalties and more interest. They are even worse than the Israelis they sue me using mine money, even though it is their error that they refused to correct. Finally I managed to get the right past SOA after more than 7 months to verify my payment.

I and my wife went to AmBank HQ in Jalan Yap Kwan Seng hoping to solve the problem but the GM refused to see me. Instead, I was directed to their Collection Department in Jalan Pudu to see an officer, who only knows about collection.

After many rockets and counter attack with missiles, they agreed to pay a small token, which I refused to accept and they continue with their attack with missiles unless I accept that small token and forget about the whole situation.

They sue me in KL Court and they charged my account for their legal fees. I attend the KL Court a number of times, and each time it was postpone at their lawyer request. I was hoping the Judge could solve my problem. I am too naïve. The last hearing, the Judge told me to engage a lawyer, which I hardly could afford (about RM10, 000). Like the United Nation, our High Court only listened to the case and postponing as they like.

Left with no choice, I had to borrow money to pay off the Penalties, Interest and Legal Fees for a few thousand, which keep growing. I found out that they are charging my account at the rate of 9.4% and not the rate that they sign with me ie BLR + 1%, which is about 6.95%.

AmBank is bully the customer, like Israel bullying Palestinian, with the knowledge of Bank Negara and High Court in KL? Yet nobody wanted or can do anything about it.

Like the Israelis, nobody is able to take any action against them and they can and do anything they like. Where is justice? I hope the Malaysian Government can solve our internal “Palestinian and Israel” which is happening right in Malaysia.

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Comments

  • Ab
      25th of Feb, 2009
    +1 Votes

    bayangkan kalu orang kampung yang kena. lagi teruk rasanya..
    Bank macam ni tak payah support. buat refinace ke bank lain dan kena belajar bagaimana permainan bank yang sebenarnya. mereka ni memang kira untung jer...

  • Da
      9th of Jul, 2009
    +1 Votes

    I always have this kind of difficulties dealing about my car loan with ambank. They are more likely like along with legal license. I understand that sometimes I do have some problem whereby the payment got delay for 1-2 months but the collection ppl from the bank keep on calling me and throwing harsh words. Talking like a king. It is very neglecting everytime I remember the moment. I was treated like dirt, no value. When I asked for their names, at that point they were kinda reluctant and refuse to give out theirs. Why is this happened? Is there by chance that they can do what ever they want to their customer? If it is just because of 1-2 missed payment, they really cannot help the customer?
    I understand that the economy is not good nowadays but without good service, I dont think they can manage well also. It is about time for them to think and ponder. Let us choose for our own better future.

  • Ac
      15th of Jul, 2009
    0 Votes

    Sympathy to hear abt ur story. As Malaysian, a customer, a user, watever...our rights always being abused by those with 'authority' or those working with' 'them...even our goverment/ministry, court, etcs...dun hv de heart to treat their own country ppl with a sincere acts...God bless...

  • Ah
      20th of Dec, 2009
    +1 Votes

    Ambank is the worse bank that I have ever been dealt with so far. This bank is really a lousy bank and I promise I will never deal with this ahlong bank for the rest of my life. They are good in collection but their customer service is damn lousy. They do whatever they like without informing you.

    If you have difficulties in paying your instalment, they will enjoy by throwing the big stones at you until you die. They charge you penalty and increase the highest interest rate, they also phone you by talking like a ganster to demand money from you.

    I am in the process to transfer my housing loan to other bank.

  • Ih
      12th of Mar, 2010
    0 Votes

    ambank is indeed the lousiest bank who only want money and nothing else but don't know how to treat their customer the right way, if we have money who want to loan from the bank and if we don't use their facilities, then how do they get their money to sustain their bank ? but no matter how hard we complaint, is there any changes till date ??? they still the same and they still the lousiest bank ever. I guess their managers are only managers that only waiting to receive salary by end of the months and xxxx their wife and make babies. do they care about their customer service ????...

    Why i hate this bank ???

    1) I open a bank account with them with an amount of RM 100, and they told me that the Atm pin number shall be posted to me thru mail, and till today 2010, i never received any pin number and or any news on that, called them several times and they said it is on the way but yet till today never received it. Went to the bank regarding this matter and 4-5 times went there they say they will call back, and till date never receive any of their phone calls...so what should i do ? blank ?????...i don have that time to go to the bank so many times, might as well i work there and sit in the bank if i to go so often.

    2) I sell my house, and the purchaser happen to get his loan from AMbank, and i guess due to immediate approval. It all began in June, everything is done by the lawyer part, and now just waiting for Ambank letter of redemption to my own bank...till date no news, when i try to find out the status of the processing from the bank officer in-charge of the whole process, and they told me that the Officer is on leave busy xxxxing his new wife in china, and when i asked who is to contact regard this matter, the bank just say don't know. The manager yet decline to meet me. So the best answer that the bank can offer me is that we will call you back regard to this matter and it has been a month not even one phone call...then i go to the bank again, they gave me the answer " we will check it for you and we give u a call" yet nothing happen also till today...so i guess i just waiting for my bank to issue me the "love Letter" and i wonder how am i going to pay for the house since it is overdue, if i can afford to pay the house then i wouldn't sell it, but due to the economic crisis i need to sell the house to get a smaller and affordable house, but yet this Ambank is wanting me to go bankrupt. What if everything is already too late by then, do you think they would want to be responsible ? i guess the best answer they can give you " sorry, it is not my problem!!!"

    I hope everyone, please don't loan with the bank if u have no relatives working there, they are not to help but yet are here to "kill" you and make your life miserable. The ambank i am referring to is the one on boulevard area, miri.

    Think before you want to be the customer of AMBANK !!!They really sucks and the only thing they know is to xxxx their own wife and make babies as well as say "sorry"

  • Sh
      4th of Feb, 2014
    0 Votes

    I guess AMBank has the poorest customer service. I am still waiting for my year end loan statement of account whereby all other bank loan where i supposed to receive, has been already reached my doorstep. I tried to call their hotline today where they claim 24hours, but none answer the phone.


    2) their flexi loan is not flexi at all. I once called up to check, if i pay advance payment of let say 30k. will it be auto deduct to the principal loan and hence reduce interest. But, the ambank replied with no as I need to go counter to pay and to do it at the counter.


    Though I can understand each bank has got their system, but, so far, I had my loan service with OCBC, MBB, CIMB, and I guess all these banks are doing a good job. Whenever i paid extra, the money will auto deduct principal and the balance amount as interest charges. For Ie. MBB and CIMB, sometimes i paid advance for let say 3months and the following 2 months i pay nothing, and they just remain charging me the balance interest charges only with no complaint.

    As for my current ambank loan, I guess I will re-finance and transfer to other bank after the 3 years of locked in period expired.

  • Sa
      23rd of Jul, 2014
    0 Votes

    banks are worse than money lenders

  • Hg
      17th of Aug, 2016
    0 Votes

    Agreed. The bank officers know nothing about setting off the principal when I transferred money from CASA to housing loan account. They just told me you want to do it "Biasa" or "Splitting". How can a Layman understand their own jargon?

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