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Maybank semi flexi housing loan, Advance Payment reduce Interest?
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13af
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 Oct 18 2023, 10:45 PM
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Getting Started
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QUOTE(StupidGuyPlayComp @ Mar 24 2023, 04:10 PM) what his mean the 70% cap is the lowest chargeable balance amount. Example loan balance 1m, even you pump in 900k, it still charge you interest based on 300k, becasue 70% of 1m is 300k As for the Maybank full flexi, then i confirm no 70% cap hi want to ask about this if i just pump in 200k extra (haven't reach the cap amount of 700k) then the amount that will go into principal will be 200k fully, or 70%*200k=140k? |
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13af
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Oct 19 2023, 10:18 AM
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Getting Started
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QUOTE(StupidGuyPlayComp @ Oct 19 2023, 08:55 AM) Is your plan semi-flexi or full-flexi? In a full-flexi plan, the monthly principal amount is fixed, regardless of whether you deposit any additional funds. Any extra funds will be placed in the current account. This surplus will automatically reduce the interest without the need to inform Maybank, and you can withdraw this amount at any time if you wish. Will be full-flexi And will be a 70% capping with prepayment (sorry for confusion it's not Maybank) So curious how this 70% works if i want to pay more on advance, but not so large enough to reach that 70% cap |
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