hi tumpang thread. i got query regarding redemption sum also. the sum also higher than the outstanding balance.

The bank charge me for 4 items:
1. Add profit to be earned
2. contingency fee
3. Service charge
4. GST

So can this charges be waived ?????. From what I know, i still pay the bank the installment. Also since they earn from interest, why need to charge for contingency fee. My loan is islamic bank and i believe there is no lock in period.

Furthermore, GST is calculated from service charge only, so i dont think they deserve to charge me extra for "profit" and contingency fee

This post has been edited by kurtkob78: Oct 2 2017, 02:29 PM

see shaniandras' post.

should be bank ask for additional sum as "deposit". From what I understand, they should return to vendor if there is any excess after settled.

This post has been edited by kurtkob78: Oct 2 2017, 03:45 PM