Citibank - they don't want to have my business

It is really interesting. One time, I am seen as a rich Mat Salleh who will definitely not purchase something in some Second Hand Bookshop.

Than, again, I am the Mat Salleh, who is not worthwhile to make business with. I went to Citibank recently to refinance my mortgage. I have a housing loan with HSBC and while I like HSBC and their treatment (serious!), their interest is just too high, especially now, when Bank Lending Rates (BLR) are so low.

So off I went with all the papers required and applied for a refinancing loan with Citibank. There shouldn't be a problem, was my thinking. I have a job and earn regular income, I have my employment pass, I am in Malaysia for a very long time, am married to a Malaysian - so show the roots that are required.

But than, I was waiting and waiting for the call of the credit assistant. It didn't come and well, so I called, and was told that my application has been rejected. Citibank in Malaysia and Singapore doesn't allow refinancing of loans for foreigners - is it because I could run away? Where is the risk, do I ask? If I really run away they would have the access to the condominium! Gosh, the moment I have a mortgage on my condominium, it basically belongs to the bank!

What a joke is that? But at least, the Citibank assistant provided me with a contact in Standard Chartered Bank. Talk about loyalty and service.