Feb 27 2013, 01:24 AM
QUOTE(doraemonkiller @ Feb 26 2013, 11:17 PM)
If I have 100k, where should I put my money? FD or house loan. I not sure whether the calculation is right.
Assume if house loan 100k. 4.2% interest and 40 years tenure. Monthly repayment will be RM430.
RM430 x 12 x 40= RM206,400 (RM100,000 principle and RM106,400 interest)
OR
Assume 100k for maybank FD monthly renew. 3% interest and I put it for 40 years. 3% / 12 mths = 0.25%
RM100,000 x 0.25% x 12 mths x 40 years = RM120,000 interest plus RM100,000 principle = RM220,000
From my calculation, it seems like FD is better than house loan in terms of interest. Can someone correct my calculation?
Hi everybody, i been reading post here from time to time. I just want to say thank you for the constant update and info.Assume if house loan 100k. 4.2% interest and 40 years tenure. Monthly repayment will be RM430.
RM430 x 12 x 40= RM206,400 (RM100,000 principle and RM106,400 interest)
OR
Assume 100k for maybank FD monthly renew. 3% interest and I put it for 40 years. 3% / 12 mths = 0.25%
RM100,000 x 0.25% x 12 mths x 40 years = RM120,000 interest plus RM100,000 principle = RM220,000
From my calculation, it seems like FD is better than house loan in terms of interest. Can someone correct my calculation?
doraemonkiller, you raise a very good calculation. I never thought of it that way. But then would RM220k buy a house 40 years in the future?
I hope i have not offended anybody by giving this reply.
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