I have a bad experience with OCBC. Went to their HQ at Masjid Jamek LRT station. Wanna open a FD account. The service there slow like tortoise....waiting for an hr and when my turn comes, they tell me system down

Hi all Sifu, I got one question about the house/mortgage loan.

I bought a new property last year (new project) and without DIBS.

Since my bank already start charge us interest based on construction progress so what is the benefit if we pay more than the interest amount into our loan account before the project complete?

If I do so is it will deduct my loan's principle or principle + interest?

Or should I wait until the actual loan repayment period start then only I put more money into the loan account?

Thank you all Sifu in adavanced

Actually you can pay down in anytime once they start disbursing to reduce the interest BUT you can't take out any of the money from the capital repayment pool until your principal loan repayment starts.

You should be able to pay advance installment anytime. I always do so. How they going to stop you from paying into your own loan account?