OCBC housing Loan, better than other bank?pls debate
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 Jul 26 2012, 03:15 PM
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#1
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Junior Member
365 posts Joined: Dec 2006  
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I also have OCBC housing loan. Every month i will pay extra RM200-300. But now i noticed that the extra I made all go to advance payment. I confirmed with OCBC cust service saying my instalment has been advanced till next year. meaning if I dont pay now till next tear also ok.
I thought whatever extra will go direct minus the outstanding principal?? Anyone can help? |
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Jul 28 2012, 12:39 PM
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#2
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Junior Member
365 posts Joined: Dec 2006
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QUOTE(yunalesca @ Jul 28 2012, 12:31 PM) i remember you have to specify whether your extra payment is for pre payment or reduce principal. Hi Guys,pre payment you can withdraw out if you need the money. reduce principal harder to withdraw. you have to write letter and wait 1 week. i also interested to find out more. i also confused. the loan agent did not explain well. ocbc should give out booklet to us for reference. i still prefer my scb mortgage1. one account, nice and simple. but m1 charge rm10 per month. ocbc no charge. please help!! !  Thanks for the replies. I did talked to OCBC and mentioned I was to specifically use the extra payment I make monthly to deduct principal. But the answer I get is it cannot be done because the system will automatically capture in the advance payment structure. Unless I pay large amount and call them to inform the large payment is for partial repayment. That is why I'm confuse why should I pay more every month. Please share |
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