Jul 8 2016, 09:32 AM
QUOTE(hwachong @ Jul 5 2016, 10:29 PM)
I will be purchasing a 1m property, and I have 1m cash on hand.
(A) Should I take loan, and put the excess cash in FD? If yes, how much loan should I take? Loan interest is at about 4.5%, and FD interest at 4%
(B) Pay with cash
Which is the better option?
Thank you.
get a full flexi loan facility and negotiate for the best price.(A) Should I take loan, and put the excess cash in FD? If yes, how much loan should I take? Loan interest is at about 4.5%, and FD interest at 4%
(B) Pay with cash
Which is the better option?
Thank you.
dump in the full amount borrowed to prevent interest being charged against you but take note if there are any "early settlement" charges hidden in your letter of offer.
the benefit of a full flexi loan is that despite having dumped in the amount to the bank, you are still able to withdraw these monies out.
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