hi guys, i would like to know for my semi flexi loan under maybank:

1) if i pay extra money monthly to the account, will it reduce the interest? i am referring to bill payment via internet banking, not going to branch to do the capital repayment. meaning the extra amount will just appear under the advance payment in the account and will show as the available balance that is qualified for advance withdrawal?

2) let's say my home loan billing date is first day of every month, for instance 1 May 2017, if i pay the amount on 2 April 2017 (advance payment before the actual due date), will this early payment contribute to the savings of daily interest from 2 april to 31 april?

1) yes
2) dunno

So parking to learn.

1) yea

2) yea

usually bank calculate on a daily basis... bt in your statement usually shown as lump sum for that month....

advance payment in loan account is the amount you can take out anytime right?

yes , but must apply to withraw from counter , 3 working days .
roughly RM50 / withrawer charges

Leng cai answers, as always.

RM25, MBB.

PBB RM53.

Some of the banks will be charging you for the withdrawal of advance payment, the charges is not high, ranging from RM10-RM30.

UP this.
I am having similar question as Question (1), the bill payment of Advance Payment via internet banking will reduce the Principal Amount directly, and it will not be counted as the payment for next installment right? Since I already have a Standing Instruction for the monthly installment.

Thank you in advance for the advice.

Maybank that semi flexi is rm25 per withdrawal.
Can withdraw using m2u they said.

from what i know from banker, if ur loan amount got any extra payment u put in earlier, the SI will only deduct from there instead of ur dedicated saving account, i feel this is quite weird as i need to keep pumping money into loan account in order to save the interest?

Hello Benson. Good morning mate.

I am having similar question as yours, the extra/advance payment that we put should be reducing the Loan Principal Amount instead having deducting it for the monthly installment?

u need to go to bank to tell that u want to do a principal repayment, so whatever u pump it, it will not be touched, and it will be used to reduce interest as reduced principal.

this can only be done over counter though, unless urs is full flexi that comes with account that you can deposit anytime via cash deposit machine.