Hi,

just curious about ocbc housing loan.
when u do capital repayment, the loan amount is auto deduct by the capital repayment amount.
so if my hse loan is 50k, if i do capital repayment 50k (cover the loan amount), wonder how the system going to show. show loan amount = 0 ?
and i still need pay my installment as usual ?

I think it works this way ....

Any sum of money in excess of the monthly instalment is treated as advance instalment ... unless the bank is notify in writing that the sum is for capital repayment and early settlement and only if full settlement is allowed under the terms. If is not allowed for early settlement, the penalty interest will show.

This post has been edited by mini orchard: Jan 16 2019, 08:27 AM