Interest is computed on daily rest based on your outstanding amount. Unless you're on a full-flexi loan, the outstanding amount does not take into account the advance payment.

You can use online calculators such as this to see how much of your monthly installment is being used for principal repayment and interest respectively. By right, your bank should have provided you an amortization schedule together with your loan contract.

Personally, I use Karl's Mortgage Calculator. It's available on both the App Store and Google Play. Works well, and allows you to see the effect of extra payments etc.

1st of all, what type is your house loan? conventional loan, islamic loan or flexi loan?

Hi there

The interest is calculated on a daily rest based on your interest rate per annum and the current outstanding balance.

I've calculated for you as per attachment

Your outstanding should be around 411,714.89

If you mentioned that you are paying RM2,200 on the dot, then your interest rate is 4.325%, not 4.3%

lifebalance sums it up well. Check with your bank officer to confirm if there are any additional charges before you bank in the money.

well that depends on your interest rate that you pay to the bank vs the interest gain from EPF investment.

if the loan interest is higher than EPF, then by all means use EPF to pay off

but if EPF return is higher than the loan interest, then it's advisable to keep it in EPF.

Since you are mentioning that in the event your mom passes away, you and your siblings would like to go separate ways but the SPA belongs to your Mom, best is that she either change the SPA into both of your names or otherwise get her to write a will on who gets the property.

If there is no will, then there will be problems in handling down the property later on when she passes away.

when OPR increases, FD rate increases as well.

Assuming 500k loan, 35 years tenure

Interest rate 4.4% - 2,335 monthly installment, total interest in 35 years - RM980,872

Interest rate 4.65% - 2,412 monthly, total interest in 35 years - RM1,013,434

So that's about extra 33k interest for 0.25% increment