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Credit Cards Balance Transfer (BT) Plans V4 - Banks Offer List, Credit card debt consolidation
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razor21
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 May 12 2016, 09:44 PM
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New Member
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hi sifu
i able to save around 3000/month
but if i just put it straight into bank , i only manage to get min dividend from it
so , i plan to use cashlite service from cimb to borrow rm18000 with 5.99 interest p.a for 12 month and no advance fee
then i BT STRAIGHT AWAY to Aeon card for 6 month to avoid interest from cimb
The money ( 18000) i will put into f.d which give me dividend
IT is possible and good idea?
Can i BT straight away from CIMb to Aeon ? or i still need to pa the interest
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razor21
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May 14 2016, 11:53 AM
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New Member
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QUOTE(sms2u @ May 13 2016, 07:46 PM) What u talking about? U already unfront pay 5.99% interest to CIMB..it is much more than the FD interest. No point to do balance transfer to AEON credit card. Unless you telling me that 5.99% no need to pay to CIMB when u do a full amount of balance transfer immediate you apply the cimb lite. U need to check any penanlthy on earlier settlement on CIMB. i thought the interest will be charge once we pay the installment for the cimb cashlite i plan to BT even before first installment yea it true .... it not worth if the bank straight away charge you rm 1062 for rm18000 loan even before 1st installment one more thing... i think there is no early settlement charge last time i check in th internet |
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razor21
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May 14 2016, 12:52 PM
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New Member
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QUOTE(sms2u @ May 14 2016, 12:14 PM) U can refer to section below in the url below Section What if I fully settle the CashLite facility before its maturity? URL http://www.cimbbank.com.my/content/dam/cim...ant-mar2016.pdfAlso T&C http://www.cimbbank.com.my/content/dam/cim...ant-mar2016.pdfU need at least to inform CIMB prior to terminate the cash lite in 30 days. In that case, u already need to pay for the interest for first 30 days. May be u can still earn a bit from FD interest rate if you immediate choose to terminate the Cash List onc eCIMB approved it and release to you. But, too many work to do and also depend the amount applied and aprroved. Not worth to do that. U need to consider also whether it will give any impact to your record in CIMB or crisss. thank you very much... |
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