Reduce House Loan: Knock Off 8.5 years from loan!, Anyone is doing this?
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 Jul 17 2017, 02:53 PM
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#1
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All Stars
10,162 posts Joined: Nov 2014 
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QUOTE(monara @ May 30 2017, 09:15 PM) 2 year old thread, is the payment 2-weekly stoll relevant with current loan structure, in order to reduce principle? Heard that some types will treat advance as next installment. still works the same. Using the bi-weekly (2 week) payment on your installment will effectively pay your housing loan by an additional 1 month by end of the year. |
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Aug 7 2017, 10:37 PM
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#2
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All Stars
10,162 posts Joined: Nov 2014
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QUOTE(ColdDasher @ Jul 27 2017, 02:42 PM) Hello all Sifus, Yes correct, you will only incur interest based on the remaining 100k @ 4.45 as you still owe this amount to the bank.So lets say if i took a loan of RM500k, with a bank interest rate of 4.45% And i put RM400K of my own monnies into the flexi accont, does that mean that the 4.45% interest will only be based on RM100k? |
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Sep 15 2017, 05:32 AM
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#3
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All Stars
10,162 posts Joined: Nov 2014
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QUOTE(psyduck89 @ Sep 13 2017, 07:01 PM) do i need to inform the bank? You need to inform the bank if you're using a semi flexi loan because the system sometimes can't differentiate if you're putting the extra for next month installment or for advance payment towards principleor i just bank in my money into that account? |
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