Wah,,, u all really Free... jooekh go to meeting already... offsite meeting.. bring his staffs to sapu Sutera units..

quite free today, waiting joeekh calculation, trying to make it but ...not even understand the formula.

lol.. if wan sapu also get them sapu z residence lur.. block C
whole floor sapued by his staff

let me briefly calculate for u make u to understand the equation [i hope i'm correct .. ]

loan 400k interest 4.2
1 year interest = 16800 /365 = each day charges u 46.03

let say 1st august ur salary 10k > bank in to the bank fully flexi
400k-10k = 390k interest 4.2 = 16380 /365 = 44.88
1st day > u untung 46.03 - 44.881 = RM1.15
2nd day > u didnt touch the 10k salary yet = untung RM1.15
3rd day > ok u paid the house rent 1000.. salary in the bank left 9k = 400k-9k = 391k interest 4.2 = 16422 /365 = 44.99 bank charge u.. u untung RM1.04 now
4th day > u didnt touch the 9k salary > untung RM1.04
..
..
..
and so on..
PS: i didnt count the monthly repayment that u pay for the bank.. let say u pay 2k each month.. so u do ur calculation urself la
just briefly calculation and it might be wrong..

This post has been edited by CKHong: Jul 11 2011, 04:39 PM

ZR got a bit issues now... so Sapu Sutera a bit ...

CkHong year 1985? Sutera is your 2nd property?

the issue is small matter nie.. bukit oug there they just voice out so that they can have better quality of the land [put more rocks or whatsoever so that it will be more kukuh]
end up will increase bukit oug market value cus trinity do all the upgrading for them for free !
yep 1985.. no no.. u look too highly on me zo.. 1st property nie..
i dun think i'm able to get another prop for investment in 5~6 years...
salary didnt' increase much.. (cus i didn't do job hopping)
so ah.. currently want to pay the loan repayment + maintenance fee + tnb + water + internet in the next 3 years is a problem for me now..

Yes, clear! Thx!

Question 1:
loan 400k interest 4.2
1 year interest = 16800 /365 = each day charges u 46.03
---> cant calculate like this cause even term loan calculate interest based on balance, right? It shouldn't be fixed?!


But, what about the capital repayment calculation?
So, bank will calculate everyday like the above and then let us know the total amount of repayment (capital + interest) by every month end ?



This post has been edited by kuhfayLover: Jul 11 2011, 04:54 PM

this one u have to refer to other sifu liao
lol.. just now the calculation.. i just assume it is calculated like that.. hahahaha..
based on my 'guy instinct'

pls use the excel formula below to calculate ur monthly repayment
=PMT(interestrate/12,loantenure*12,loanamt,0,0)
for kuhfay case...
=PMT(0.042/12,30*12,400000,0,0)
monthly payment = rm1956.07 every month for 30 years

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Added on July 11, 2011, 6:56 pm
added flexi loan calculation
from the attachment with loan of 400k, monthly payment is 1956.07
let say the payment schedule is on 5th of every month..
so on 5th jan, u paying this amt into the loan, and it will deduct from ur principal (u can see principal amt reduce)
the daily interest rate will be reduce..
at the end of the month, the daily interest will add up and bring to the next month (principal increase)
then on 28th, ur salary come out and dump into the current acct, this will reduce the principal amt n daily interest..
then let say on 1st feb, u need to use rm100, so rm100 is added back to principal and daily interest rate increase...
u just need to play ard with the figure and u can estimate when u can finish off ur 400k loan..
pls have fun in doing the math...


This post has been edited by joeekh: Jul 11 2011, 07:03 PM


Attached thumbnail(s)

do u guys think for me & my gf' salary is rm6250 exclude my commission around rm1000/ month, able to pass 90% loan?but i have a car loan rm510/month.

This post has been edited by antichrist: Jul 11 2011, 07:33 PM

of course you'll pass... but to be sure.. pls apply all 3 banks..

which are three banks you mentioned?only uob n pbb call us.anyway we will apply hlbb and citibank

PBB >> UOB >> HLBB >> Citibank

ohh... panel for sutera maya
pbb, uob and hsbc
but since u apply zo pbb and uob... then u can forget hsbc
hehe.. hscb can only give u loan 34years ... cannot go for 40 years.. [unless uwant to have shorter year.. then u can go for it]
uob shud be very fast approve ... pbb u have to wait longer
but the rate is better from pbb..

which bank you applied and approved?waht is the rate?

i took pbb

uob gave me blr - 2.4
pbb gave me blr - 2.5 (1st year) then blr - 2.4 (afterwards)
thou 1st year i dun think i can save much with diff 0.1 LOL
do tell me what offer u get..
since SRR increased.. some said it might affect blr - x

what SRR u meant?

Sutera Maya i thought had problem with roof garden

Chris.. srr is the one bank negara increase .. thank god blr didn't increase .. so I'm thinking if there's any changes for blr - x

Yup.. as I know.. the roof garden.. still pending.. didn't get approval yet.. maybe can't get approval.. lol.. I'm ok with not getting roof garden.. of course.. if got then better la haha....

WAU!! Thanks joeekh!
No worries, i like maths!
Still, i have questions:

1) PMT(interestrate/12,loantenure*12,loanamt,0,0)
=> so this formula actually already cater for recalculate based on outstanding balance ar?

2) I have a clearer picture now after seeing ur attachment, so good of u!
But, i thought the interest is already include in RM1956.07, why do we still need to pay the extra daily interest(in ur example, column F) ?

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Added on July 11, 2011, 10:47 pmNot advisable to go to local bank?

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Added on July 11, 2011, 10:51 pmhow long is ur loan tenure?

This post has been edited by kuhfayLover: Jul 11 2011, 10:51 PM

mean PBB is first choice, last is Citi