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Fixed Deposit Rates in Malaysia V2, Read 1st post to find highest rate.
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vinvon23
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 Jul 9 2012, 10:53 AM
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Getting Started
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hi all ,
would like to ask opinion regarding fd and flexi home loan..
let say one home loan interest is 6.6-2.3= 4.3% interest...
with the flexi plan we 'earn' 4.3% by placing money in the current account..
Will you rather put your money in Fd for short term to get some extra 'real cash' for a 4.25% interest (OCBC combo) or would u rather put ur money in homeloan flexi acc to reduce the interest charged n more principle paid...
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vinvon23
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Jul 9 2012, 11:21 PM
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Getting Started
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QUOTE(gsc @ Jul 9 2012, 10:14 PM) http://www.standardchartered.com.my/person...t_july_campaign
Added on July 9, 2012, 10:21 pmthe best person to advice you is the bank officer who help you to get the home loan as we do not know the terms and conditions of your loan. Ask that person 1) what if I bank in RMx for the home loan, how much is the interest saving? 2) Calculate yourself if you put in RMx amount in OCBC combo, how much interest will you earn for that 3 months period 3) compare 1 & 2 My gut feel is better to put it into home loan and hence reduce your borrowed amount and the interest saved is perpetually throughout the loan period hemm at first i was thinking of is it better to keep the extra cash with myself.. as both way give me similar interest rate... the only difference is that 1 i can get the real extra money (ocbc fd) and if for hl acc ( paying more principle monthly).. but when se4eing kaka23 said about the extra effort n time it seems it doesnt worth hehe.... |
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