I've planned to use my EPF to lower down the principle, but usually when can we do it? I know it is written in agreement, but which part or term used? The loan i have still very new, not yet start paying installment.... planned to lower down the principle before they start charging..

thanks..

This post has been edited by stormchaser: Jun 7 2007, 05:35 PM

go epf office ask for the form to apply, bring along ur S&P and loan agreement if case needed.

Download the form from the web site . Fill in the form

Photocopy :-
1. i/c
2. S&P
3. letter of offer for your loan
4. a copy of your active bank statement or photocopy of your buku simpanan.

bring along ori s&P and ori letter of offer

i know the procedure, but i'm not sure whether the bank allow me to do so or not.. the form are downloable from EPF website... EPF side, i'm ok.. just the bank side...

This post has been edited by stormchaser: Jun 7 2007, 05:42 PM

u can always call up n ask wat....
hongleong bank is OK with it as long as u don put too lump sum.
i settled partial of my loan during the 1st yr 1% interest period.

depends on what type of loan you taking lor. if flexi one sure no problem.

Well it would be better to not pay during the 1% interest rate period. Coz if you keep it in EPF the returns would probably be higher than the 1%.

Or even if you have money. Putting in FD for 3.5% would be better than saving 1% interest rate.

do u really understand how a houseloan works and how a bank will accept u to pay lump sum? did i mention i used my epf money n did i say i paid lump sum? since it's not related to TS topic , i m not going to discuss further here.

I call up the hotline, but the girl seems to be playing guessing game, where she said, usually cannot, but after a few years only can do it. Which i doubt so. I just understand that usually, we can't refinance the loan in certain period (5 years) or else kena kau-kau interest..

it's called lock in period where ur loan has to serve 3-5yrs (depends) before u refinance it or else u will be penalised.

u sure u call the right line? r u calling the bank branch or the mortgage center ? usualy mortgage center customer service will be able to answer ur question. i had problem with branch officer oso , they know little thing about loan ( wat i think..).