Reduce House Loan: Knock Off 8.5 years from loan!, Anyone is doing this?
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 May 29 2017, 05:38 PM
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#1
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2,724 posts Joined: Nov 2012  
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QUOTE(BestWorker8-5pm @ Dec 5 2015, 06:08 PM) How effective bi-weekly payment on maybank will reduce the Interest rate? Compare to I pay monthly basis as well as capital dump to offset principal? Any master can advise? What is the type of loan that you are having with Maybank for this? |
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May 29 2017, 05:39 PM
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#2
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Senior Member
2,724 posts Joined: Nov 2012
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QUOTE(lonely143 @ Jul 28 2015, 07:31 PM) My banker from Maybank have offer me semi flex housing loan. If you are using M2U, putting Advance Payment into the Loan Account does not necessarily need to notify the bank, it will automatically reduce your Remaining Principal amount. Explanation For example, housing loan is RM250,000 So, if you dump RM100,000 into the loan. (need written letter) Therefore the loan interest is calculated base on RM150,000 (Principal) + Interest She said I can withdrawn the money with T & C 1. Minimum withdrawal will be RM 1,000 2. Each withdrawal service charges - RM20 It should be better rather you put in the FD because my loan interest 4.45% vs FD 3.15% I'm just sharing this info, correct me if I am wrong.  |
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