Sure. You are most welcome.

But you wrote "installment remains the same", that is 100% going to confuse people

Hey MNet, since no one is able to answer you. I will try my best to give u an answer here.

The fluctuating installment in mbb is actually resulted from a principal plus interest payment set by mbb.

A lot of people(including bankers) do not know that interest is calculated based on your previous month end balance and not charged upfront like car loan or personal loan.

In maxihome flexi case, Maybank set a higher repayment on principal so your month end balance is lowered hence resulting a lower interest on the subsequent month.

Say 500k loan, 35 years loan repayment, 4.5% interest rate:

normal semi flexi package
Repayment rm2367
Principal repayment rm492
Interest repayment rm1875
End balance 499,508

Maxihome flexi
Repayment rm4000 (example only)
Principal repayment rm2125
Interest repayment rm1875
End balance 497,875
----------------------

2nd month

normal semi flexi package
Repayment rm2367
Principal repayment rm493
Interest repayment rm1873
End balance 499,015

Maxihome flexi
Repayment rm3992 (example only)
Principal repayment rm2125
Interest repayment rm1867
End balance 495,750

(Interest,repayment amount and outstanding balance reduced, but each month have to fork out more)

Bro, as a banker I assume you should know.

Principal is broken down into 35years (420 months)

Rm500000/420 = 1190

Repayment = principal (1190) plus interest (1875) = 3065

I put rm4000 to draw a clearer picture the impact of paying extra each month on interest saving on the subsequent month.

Repaying Rm3065 will result in a mere rm4 difference in interest, which is not significant

This post has been edited by kok_pun: Oct 12 2016, 02:39 PM

Haha. Even Maybanker would suggest semi flexi. Maybank full flexi is not a big hooha all this while. Unless you are rich

** I don't work for maybank, I am just sharing ideas here**

This post has been edited by kok_pun: Oct 12 2016, 03:31 PM

I guess my targeted audience drken13 gets it. So no issue. You should be thankful I am teaching you this. I don't post that often nowadays.

This post has been edited by kok_pun: Oct 12 2016, 03:31 PM

Thanks madgeniusfigo. Your baby is cute

Take hong Leong, mbb, Rhb. Would be better than what u have now

Yes.

Some banks still offer 20% off

Thanks for the compliments.

If not mistaken, 800k loan as u mentioned. I think income wise could easily go more than 10k. You will get the maybank 2 cards visa infinite and Amex reserve. Itu can exchange air miles and can easily exchange a ticket to fly to England to watch Manchester United play. Lol. Kidding. But really a very good card. First year annual fee free. Keep and use it. Otherwise cancel after 6 months (bankers always say this, maybe to lock their commission gua)

Stamp duty should be 1610 (before 20% discount)

Yes. Agree.

Some banks like Cimb and Maybank bundled it together (saying it's boss order la.... bla bla bla)

Lol.

Yes.

Bingo!!

Lifebalance is correct.

But too bad. Epf withdrawal is only for first house and subsequent withdrawal also for first house. Unless you have disposed the first house.

http://www.kwsp.gov.my/portal/documents/10..._July_2011_.pdf

See "terms of withdrawal" item4

Yes. See the link in the quote above. Item 4 under "terms of withdrawal"

3mil loan?

Caveat lasts 6 years

Bro. U have guaranteed surrender value, a substitute to Mlta suitable to be used as mortgage assurance. Open your getbis or gelsis, it's there.

By the way, afaik the "cash value" is actually surrender value. Lifebalance of Aia is right on the guaranteed part, mrta and Mlta have both guaranteed surrender value. But surrender value means u need to give up the policy to get cash; cash value, on the other hand, means cash u may withdraw, which belongs to u. There is policy loan available for Mlta, if you wish to drill deep into the principles of traditional policies