Hi,

From my loan statement, every month I can see there is one transaction that says "OD INTEREST CHARGE". And at the footer there is another value which is "LIMIT REDUCTION AMOUNT".

From what i understand the limit reduction amount is the amount that is deducted from my principal (loan amount)? Is my understanding correct?

If so, is the limit reduction amount part of the "OD INTEREST CHARGE"?

Is the RM1000 already included the RM100?

Meaning am I repaying RM1000 monthly. OR I am pay RM1100 monthly?



Thanks.

Wondering about this too. Anyone can share some insight?

from what I see in my account. I am paying RM1000+RM100.

But the RM100 is not showing up in the current account transaction history. Anyone is experiencing this too?

This post has been edited by Aimer247: Aug 7 2020, 03:00 PM

Yes, from I understood from the customer service. The total you are paying is RM1,100 and it's not shown on your online account transaction, it's only reflected at your monthly statement under the column of limit reduction.

Yes, from I understood from the customer service. The total you are paying is RM1,100 and it's not shown on your online account transaction, it's only reflected at your monthly statement under the column of limit reduction.

The RM 100 is capital repayment .

this will makes things confusing sometimes. Because I cant see the amount of capital repayment during the beginning of the month.
I have to backtrack and calculate.

for CIMB Home Flexi. Is it 70% or 100%?

And from what I read in the thread, if you have 200K loan and you put in 100K. You are charge 100K of interest.

My question is: what's the lock-in period my 100K needs to stay in the account for it to take into consideration? Is the interest calculated daily?
For example: got 4 weeks in a month, the first 2 weeks I put 100K, then the next 2 weeks 0. This way, I will pay less interest in comparison to 4 weeks of zero amount in the current account. Am I right to assume it actually works this way?

Hope someone can help explain. Thanks

Yes. This is how Cimb works. U just need to deduct the facility limit from the beginning and the ending.

Not sure what's the 70% or 100% you are referring to . Interest is calculated daily. The moment you have excess funds in the ac you pay less interest .
Don't have whatever lock in period .

Hi,

Can anyone help to clarify what is Available Balance under CIMB HOMEFLEXI SMART account?


Thank you.

Just think the whole capital repayment amount that is not showing on my current account dashboard a bit lame. it so hard to keep track of every cent in my account then. i keep on need to take out statement and calculate everything.