Lowyat.NET -> Finance, Business and Investment House -> Credit Cards, Debit Cards, Prepaid Cards and Loyalty CardsBalance Transfer, What is it actually???
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 Jan 3 2012, 04:39 PM
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#1
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Junior Member
55 posts Joined: Dec 2011 
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QUOTE(ronnie @ Jan 3 2012, 11:15 AM) Not entirely true... Many would need to settle the BT accounts first, before can cancel the Direct Access/CIMB CC yes, true. Me myself still owe 100k, got to force myselve pay 20k per month, else have to find alternative solutions... At least 6 months, then only will see massive cancellation... |
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Feb 29 2012, 02:29 PM
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#2
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Junior Member
55 posts Joined: Dec 2011
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QUOTE(v2_vehooi @ Feb 29 2012, 12:30 PM) haha....is ok, I just share with you. Nowadays home loan interest is based on the reducing balance. Means that every month, the interest is based on the outstanding. 4.2% reducing balance ~ 4.2 effective rateBut, usually the personal finance is flat, e.g car loan. interest is calculate based on the initial amount you can try to google search and download the mortgage calculator and play it. 4.2% reducing balance is not equal 4.2% flat. thx. 4.2% flat rate ~ 8.4% effective rate Conclusion hlb ~12% effective rate where housing loan ~4.2%effective rate |
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