Please share how long time you take to settle your housing loan. Feel free to share any tips that can help settle the loan asap.

Maybe can share your experience in the following format:

Loan Amount:
Loan types: Flexi, semi flexi, terms
Types of ownership: Investment or own stay
Years spent / planned:
How many years left:
Tips, opinions to share:

For myself:
Loan Amount: RM 374,220
Loan types: Semi flexi
Types of ownership: Own stay
Years spent / planned: 10 years
Original loan tenure: 30 years
How many years left: 10 Just bought my house recently
Tips, opinions to share:
1. Use extra money for investment since the current interest rates is very low
2. Earn side income


If you planning to pay extra for the monthly installment (prepayment), you can calculate using Adjustable Rate Mortgage Calculator, the result will be amazing.
http://www.vertex42.com/ExcelTemplates/arm-calculator.html


Sample calculation with prepayment using Adjustable Rate Mortgage Calculator
How Long Time To Settle Your Loan “With Extra Payment”?

This post has been edited by MoneySoSpecial: Sep 15 2009, 08:39 PM

i suggest to get full flexi loan ie from Citibank. The interest is calculated daily rest. You can put ALL your money in. And when u need to use, u can withdraw it using ATM card. It is very cool. Instead of keeping ur money in say...Maybank, put it in Citibank and ur interest will reduce tremendously.

Our house loan 188k, fully settled (enough money to make interest charge 0). but we just keep the money in Citibank now although fully settle. Because, when we see opportunity and need money for investment, we can still draw the money from the loan of course u must calculate the interest rate charge vs the investment return la.

This is applicable for all flexi loan (not semi flexi) but some gives you a chequing account hence it is easier to withdraw. Imagine you want to withdraw RM80k.... withdraw cash via ATM But chequing facilitie need to pay RM200 to open account & RM10.00 monthly maintainence

Citibank's best rate is only -1.85 BLR when other banks are offering -2.4 BLR

1 of my HL is with Citibank and its not very competitive

If the house gives positive cashflow, I dont see much of a point paying it off early.

Better use the extraa $$$ for other investments......

I would rather have the bank own my property while I control it.
I may try to re-finance one of my property next year.

this thread looked more like advertising than REAL valuable question here...no offence.

Agree with you. The interest rates is very low now, investment can simply get higher return.


Good to know. Can we refinance our house within lock-in period to the same bank? Any penalty? Planning to refinance and used the money for investment.


No problem. Advertisement aka promotion aka discussion.