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> Daily Interest Calculation VS Monthly

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rakyat
post Oct 14 2009, 02:48 PM

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QUOTE(airline @ Oct 14 2009, 08:07 AM)
standard chartered loan got a lot of hidden clauses like prepayment as stuff.
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+1 rclxms.gif Agree SCB got lotsa hidden clauses.... oso if your prepayment is > 70% of loan amt u oso get penalized mad.gif

Go for daily interest rate as you will save some $$$ if you pay earlier and oso on your pre-payment. Monthly is actually more beneficial for the bank.

I wonder whether it will work to our advantage if we pay later then the due date by 1 or 2 weeks since interest is calculated based on monthly whistling.gif

If you only use standing instruction and don't intend to pre-pay that often then mayb you can opt for monthly.
rakyat
post Oct 15 2009, 09:14 AM

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QUOTE(Chester @ Oct 14 2009, 11:40 PM)
Eh in fact,im looking at taking Stanchart Mortgage One, isit really not recommended?
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Not to say not recommended, different ppl have different needs and SCB does cater for some scenario. Just do ur due diligence, shop around and read the letter of offer.

IMO u should google as there have been write up on Klibor vs. BLR

 

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