Hi sifus , I just studied more about Maybank MaxiHome Flexi, its confusing basically like OD with fixed principal amount to pay every month so first 10-15years total monthly repayment will be higher compare to conventional loan, but after that ur monthly installment dropped alot until year 35 due to the substantial initial principal u paid over the early years .

Anyone experienced can help comparing this to conventional flexi loan? which just fixed monthly payment, the interested saved (if pump cash in the current account) will auto be used to pay principal monthly.

Personal instinct firstly , the conventional flexi loan shud work much better since if i have extra money to put in every month for the first 10-15years , I can just gather them all inside the current account and save interest that way as well and not force to pay high installment . Secondly the money worth much less after 10-15years, so lets say im paying 5k installment now , 5k in 15-20years time shud worth much less compare today .

The only benefit i think off is if you never have much cash inside the current account (Flexi), then Maybank MaxiHome Flexi works well as forced extra saving every month as the principal paid is much higher at first to offset future interest . (No data to backup tho, Sifus plz come in to help)

I took some rough calculations : Maxihome flexi over 35years saved 15% of Total interest charged so thats a huge amount, but mostly due to early high principal paid, so not sure if i have extra cash (saved from not needing to pay high monthly installment) in conventional loan will match the saving of 15%.

Any sifus can help to choose either Maybank Maxihome Flexi or Conventional Flexi loan more worth it ?

This post has been edited by Gatsby IT: Jul 30 2024, 01:44 PM