Hi Guys,

I m newbie to housing loan.

Just checking , if i would want to pay for additional payment to reduce my principal loan amount. I m currently using M2U ,but i m not quite sure about how is it realy work.

Can some of sifu here can teach me how to see and how to do ?

I have attached also the transaction history.


Attached thumbnail(s)

credit is whatever payment you made to this account.

debit is whatever loan disbursement + interest + fire insurance + etc

so if your credit more than debit = you no need pay any interest.

i thought only flexi loan can pay in excess to reduce principal? this is not flexi right?

Mine is Maxi Home Loan package .

I not too sure about it .But from the screenshot i attached , it did showed it reduce the outstanding amount when i paid for extra of rm1k.

Since the interest is calculated in daily basis so i assumes it shud reduce the interest as well ?

Need sifu to clarify on it.

Thanks for your reply.

U can see it's in progressive disbursement.

So what u mean is that if i can put in an extra cash of rm32.4k den i would be interest free until they released for the next progressive disbursement?

that's how it works for flexi. i think the money that u dumped in can't be taken out until the bank fully disbursed the money which is a matter of approx 3 yrs later

It is ok if the money cannot be taken out.

I just wondering , if i have the chance to withdraw when i pay in advance and as in my case i was also seeing some reduction frm my outstanding balance.

Is it correct to say that the more i pay for advance payment , the less i being charged for the Interest?

Yes, have certain amount limit.. you need to check with the bank n see or refer to your LO

Bill payment > Make a one-off payment > Maybank loan & hire purchase > Maybank Maxi home loan

Before proceed, call up Maybank branch that you took the loan and ask whether your agreement - after bank in can withdraw out or not.
After bank in, call up Maybank branch that you took the loan again and confirm with them that the amount that you bank in is going to reduce principal.

I saw your screenshot "conventional loan", should be different from "flexi loan or Maxi home loan".

This post has been edited by cactuscch2: Dec 3 2017, 07:58 PM

Yes my LO did mentioned its a maxihome loan. It also stated can withdraw fro advance paymebt however does not stated bout can do flexi payment to reduce interest.

The payment i did today for bout rm1k was made via m2u and according to ur given steps too. So frm thr u can see my outstanding was reduced also.

So just to confirm only.

Ur additional payment of 1k will direct deduct from ur total loan outstanding amount. Since bank interest is charging on daily basis. So tomorrow onwards ur interest charge will base on new outstanding loan amount to calculate. Unless there is another payment u pump into otherwise ur latest outstanding amount is the one bank use to calculate.

No need to call bank to verify anything. Because I have loan in maxihome as well and I used to pay my loan in advance and bank just charged my loan interest amount exactly as per my spreadsheet calculation. You can get the interest rate formula in Google easily.

Hope my reply can clear ur doubt. Happy working to your house.

i think you already did the additional payment already because there is 1,000 available for redraw.


this is my agent teach me how to do. I haven't try yet.

Account & banking -> bill payment -> make a one off payment -> maybank loan and hire purchase (select from list) -> maybank maxi/islamic home loan


Please test with small amount first and check whether the interest is reduce.

This is full flexi home loan where you can pay extra money in order to reduce monthly repayment.

The principal payment is fixed whilst interest subject to your total deposit in loan.

This is hybrid product of flexi loan and OD as the interest is base on outstanding amount.

I have a question on Maybank Conventional Loan

Loan amount: 300,000.00
Annual interest rate: 4.35%
Loan period in years: 20
Monthly payment: 1,873.74

From loan amortization schedule, it is shown that with first scheduled payment:

Principal: 786.24
Interest: 1087.50
Total: 1,873.74

If one makes a huge sum payment at one's first instalment, say, 100,000, is it that the subsequent interest payment will be recalculated using 300,000.00 - 100,000.00 - 786.24?

How can one be sure that the interest amount is reduced? Is it like supposed interest for 2nd instalment is 1084.65, then the actual is actually less?

Thank you!

Bump for the guy above

I also want to know

you need to check on the letter offer by the bank to see which type of flexi account is that..some allow you to dump in money when you have extra and withdraw back when tight on cash..
some can only dump in but cannot withdraw
and some dump in already need to inform bank..
check with the officer to see which one is yours

Hello friend.
Any additional amount that you paid in advance will reduce the Principal Loan amount, henceforth, your next interest amount will be calculated based on the Principal Loan amount, therefore Advanced Payment does help reduce the interest.

Hope above helps. And wishing you prosperity and abundance, have the loan clear off soonest possible.

Nice and pleasant day ahead friend.

Hi there!

After a few months paying my mortgage, I think I can help with my earlier questions

If one makes a lump sum at first, the subsequent interest amount will be reduced if your interest is calculated daily. You can be sure that the interest is reduced by comparing it with a daily amortization spreadsheet. The interest amount will be credited to your loan account at the end of the month.

Reference:
www.servethemembers.com/images/Loan_Amortization_Daily.xls


Others please correct me if I am wrong.

Thank you.

I sendiri calculate the amount charged by bank seems no different

Maybe the advance payment i made is little

very useful. thanks for sharing.

There is a limit of how much extra you can have in the account. If I remember correctly, last time the banker told me no more than 80% of the remaining loan amount.

Hi, I have a question regarding Maybank's MaxiHome Flexi Loan (full flexi). I'm going to service my monthly installment soon.

The full flexi home loan is a 3-in-1 savings + current + loan account. The problem is, there is no info on Maybank2u showing when is my monthly due date, my current interest and principal balance, current BLR (this loan was approved during BLR days) and all other details regarding the loan itself.

Also this account doesn't show up under Loans section either.

Anyone here familiar with Maybank's loan product can help shed some light? Thanks in advance!

This post has been edited by ylihao: Apr 22 2019, 09:10 PM

Hi All,

I was offered by an officer from maybank for MLTA .
As i checked, maybank only have MRTA at the moment. They do have MLTA plan but not yet release to public.

Anyone can help verified?

Thanks!