Oct 23 2023, 01:37 PM
QUOTE(eugenepoon @ Oct 19 2023, 11:29 AM)
I believe this will be HLBB.
Example.
Loan amount - RM 1,000,0000
Current Account - RM 800,000
If the cap is at 70%, only RM 700,000 will be used to offset the outstanding loan amount.
The additional RM 100,000 serves no purpose in your Current Account.
That is what the Banker shared with me la.
In other words, the bank will earn interest on at least 30% of your outstanding amount.
Not like some banks that have no caps, where 100% of loan outstanding amount can be offset with money in CA.
Thanks for sharing. I have similar arrangement and I think I understand it better now. Example.
Loan amount - RM 1,000,0000
Current Account - RM 800,000
If the cap is at 70%, only RM 700,000 will be used to offset the outstanding loan amount.
The additional RM 100,000 serves no purpose in your Current Account.
That is what the Banker shared with me la.
In other words, the bank will earn interest on at least 30% of your outstanding amount.
Not like some banks that have no caps, where 100% of loan outstanding amount can be offset with money in CA.
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