Jul 1 2024, 04:34 PM
QUOTE(Gladiator118 @ Jun 30 2024, 09:00 AM)
I have a 550k mortagage loan with 4.35% interest from 10 years ago. I'm parking 450k into loan and somehow the installment shown changed to 1.3k instead of original 2.7k.
My question is, does bank revise our installment value automatically if there's additional money parked in loan? So when withdraw that additional money, it will revert to original installment?
Hi did you call the bank and ask ? My question is, does bank revise our installment value automatically if there's additional money parked in loan? So when withdraw that additional money, it will revert to original installment?
Mine is Maybank and im facing this same situation I've put in advance payment last month and today my monthly installment is reduced from 1700 to 1300
Called the branch and they say they cannot change the monthly installments as this is control by the hq system.
The monthly installments will only be changed every 3 months based on total principle amount then.
As from my understanding, monthly installments will only change if there is an opr change and not when you put in advance payment.
If the monthly installments is reduced I dont see any benefit to park money as advance pymt as my principle amount is reduced the same amount 400 , same amount before I put in 70k advance payment.
Thinking now to withdraw again and put back in asm.
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