Sep 5 2011, 11:14 PM
QUOTE(benjamin_haykael @ Sep 5 2011, 10:54 PM)
7.29% starts for loan amount Rm 50k and above... max interest up to 8%+ which is cheaper than your c/c o/s p/a
You are comparing % vs % without bordering whether they are reducing balance/non-reducing balance.
Do simply calculation, say 50k for 10years.
Credit card at 18% (worst case) for 10 years, total payment $71k.
Your-so-called-cheaper-rate PL at 7% for 10 years, total payment $85k.
It is not CHEAPER in ANYWAY.
This post has been edited by roy918: Sep 5 2011, 11:15 PM
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