QUOTE(Gen-X @ Nov 1 2011, 06:12 PM)
1. The amount would be more than RM83.33/month. Click here and read item 10. But to note, the interest is stated as 4.5%, and if not mentioned that means per year. Therefore the amount you need to pay per month is
[RM2K+ (RM2000 x 4.5% x 2 years) ] / 24 months = RM90.83
2. For most if not all BT, the banks consider it as Cash Advance and therefore if you only pay the minimum 5%, you'll be charged interest of 18%. Once again, click here to read T&C item 18.. Therefore it is not 17.5% as mentioned by erry.
erry, very useful info, BUT in order not to mislead others on interest calculations, I just want to highlight that for 12 months above, the way you mentioned interest is incorrect. When one mention interest it is usually based on 12 months and the best way to compare is by using effective interest. The way MBB calculate interest for the internal transfer is UPFRONT of 4.5% per year for the 24 months plan and the 0.375% is just a marketing gimmick.
To AL: Once again, for MBB 24 months, the effective interest is 8.41% (not 9%) which means it is lower than MBB 2 cards 8.88% but the 36 months plan is higher at 9.22%
Oh well most banks does that...[RM2K+ (RM2000 x 4.5% x 2 years) ] / 24 months = RM90.83
2. For most if not all BT, the banks consider it as Cash Advance and therefore if you only pay the minimum 5%, you'll be charged interest of 18%. Once again, click here to read T&C item 18.. Therefore it is not 17.5% as mentioned by erry.
erry, very useful info, BUT in order not to mislead others on interest calculations, I just want to highlight that for 12 months above, the way you mentioned interest is incorrect. When one mention interest it is usually based on 12 months and the best way to compare is by using effective interest. The way MBB calculate interest for the internal transfer is UPFRONT of 4.5% per year for the 24 months plan and the 0.375% is just a marketing gimmick.
To AL: Once again, for MBB 24 months, the effective interest is 8.41% (not 9%) which means it is lower than MBB 2 cards 8.88% but the 36 months plan is higher at 9.22%
Let me get it more clearer....
If this internal BT interest are calculated upfront and added to the BT amount, how about the normal credit card interest for MBB2card?
Lets say RM5000 if i keep the balance in mbb2card how much is the interest per month compared to doing internal BT? Assuming if i pay the same amount for either option...
Can make a comparison chart? I really sux at math lol
Nov 2 2011, 05:35 PM

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