always take flexi whenever possible... RM10 a month is nothing compared to the flexibility you get...

1. no need to click or standing instruction to pay the monthly installment
2. RM10 @ 4.2% p.a., you only need RM3000 and it is already equivalent to RM10 interest. (RM3000 x 4.2% / 12 = RM10.50)
3. All the EPF withdrawal, bonus, "under table money" , angpow money, MBf (Mak Bapak finance) etc... can dump in and use later.
4. Annual increment - your pay won't stay stagnant for 30 years right?
5. Withdraw only what you need for the next 3-5 days.. no point keeping so much money in wallet, keep it in the loan acc... it saves you interest! Pay your credit card and other bills (if they don't charge interest, pay later) only on the due dates.

with this, your loan tenure will be shorten to half.

*** Disclaimer ***
The above statement is only an advise, it is the writer's personal opinion only.
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I'm not sure about all banks but I did sign a standing instruction form for my semi-flexi loan for my 3rd house. I took semi because it is my 3rd loan and it offers no lock in and I only pay progressive interest, so I don't need full flexi for this one.

you mean you don't have at least 3k in the bank account on a day to day basis?

For semi flexi, once you put in the 3k, you can't take out easily, but this 3k I'm talking about is when you get your pay... let's say 10k... and by month end you will still have around 3k for savings... and that's accumulative before you dump in to your semi-flexi to save your interest but I have already saved the interest since day 1.

And should I need to use this 3k, I do not need to go over the counter and wait few days and pay service charge to get it e.g. booking fees for a new condo... immediately without thinking, I can just write out the cheque without knowing whether I have enough balance in my normal acc after I transfer to my semi or not coz I definitely know I have my savings all there to touch anytime.

Another example - while waiting for my reno guy to complete the job, all my savings is in my full flexi account, it took him 3 months to complete the job and that 3 months I saved quite a few k on interest before I fully settle his bills.

This post has been edited by savagez: Jun 18 2014, 11:12 PM