er, i dont think my tables represent the same thing as what you are trying to convey, my tables represent what the credit card interest has to be in order for the last month of the tenure loan duration to be equals to zero while yours is the profit interest charged by the bank. ok a bit confusing let me put some examples from excel.

for a 1 year 10k 12% personal loan
monthly payment 933.33
int on remaining principle
interest
21.4571843

1st column:month
2nd column:principle+interest
3rd column:2nd column-monthly payment
1 10,179 9,245
2 9,411 8,477
3 8,629 7,696
4 7,833 6,900
5 7,023 6,090
6 6,199 5,266
7 5,360 4,426
8 4,506 3,572
9 3,636 2,703
10 2,751 1,818
11 1,850 917
12 933 0


for a 5 years 10k 12% personal loan

monthly payment 266.66

int on remaining principle
interest
20.30999876
1st column:month
2nd column:principle+interest
3rd column:2nd column-monthly payment
year1
1 10,169 9,903
2 10,070 9,804
3 9,969 9,703
4 9,867 9,600
5 9,763 9,496
6 9,657 9,390
7 9,549 9,282
8 9,440 9,173
9 9,328 9,061
10 9,215 8,948
11 9,100 8,833
12 8,982 8,716
year2
1 8,863 8,597
2 8,742 8,475
3 8,619 8,352
4 8,494 8,227
5 8,366 8,100
6 8,237 7,970
7 8,105 7,838
8 7,971 7,704
9 7,835 7,568
10 7,696 7,429
11 7,555 7,288
12 7,412 7,145
year3
1 7,266 6,999
2 7,118 6,851
3 6,967 6,700
4 6,814 6,547
5 6,658 6,391
6 6,499 6,233
7 6,338 6,072
8 6,174 5,908
9 6,008 5,741
10 5,838 5,572
11 5,666 5,399
12 5,491 5,224
year4
1 5,312 5,046
2 5,131 4,864
3 4,947 4,680
4 4,759 4,493
5 4,569 4,302
6 4,375 4,108
7 4,178 3,911
8 3,977 3,710
9 3,773 3,507
10 3,566 3,299
11 3,355 3,088
12 3,141 2,874
year5
1 2,923 2,656
2 2,701 2,434
3 2,476 2,209
4 2,246 1,980
5 2,013 1,746
6 1,776 1,509
7 1,535 1,268
8 1,290 1,023
9 1,040 774
10 787 520
11 529 262
12 267 0

for me to compare the credit card interest rate which they charge monthly, i also have to use a monthly rest way to calculate the equivalent interest rate to have a more direct picture. if my tables are wrong please tell me.

for the rule 78 ive googled for some reference


This is what i get for using the 78 rule for 5 years

loan 10000
total month 1830
int charged 6000
interest 12%

1st colum:inverse month
2nd column:month
3rd column:int charged
4th column:rm
60 1 0.03279 196.72
59 2 0.03224 193.44
58 3 0.03169 190.16
57 4 0.03115 186.89
56 5 0.03060 183.61
55 6 0.03005 180.33
54 7 0.02951 177.05
53 8 0.02896 173.77
52 9 0.02842 170.49
51 10 0.02787 167.21 sum 1 to 12 mnth
50 11 0.02732 163.93 int rm
49 12 0.02678 160.66 0.35738 2144.26
48 13 0.02623 157.38
47 14 0.02568 154.10
46 15 0.02514 150.82
45 16 0.02459 147.54
44 17 0.02404 144.26
43 18 0.02350 140.98
42 19 0.02295 137.70
41 20 0.02240 134.43
40 21 0.02186 131.15
39 22 0.02131 127.87 sum 13 to 24 mnth
38 23 0.02077 124.59 int rm
37 24 0.02022 121.31 0.27869 1672.13
36 25 0.01967 118.03
35 26 0.01913 114.75
34 27 0.01858 111.48
33 28 0.01803 108.20
32 29 0.01749 104.92
31 30 0.01694 101.64
30 31 0.01639 98.36
29 32 0.01585 95.08
28 33 0.01530 91.80
27 34 0.01475 88.52 sum 25 to 36 mnth
26 35 0.01421 85.25 int rm
25 36 0.01366 81.97 0.20000 1200.00
24 37 0.01311 78.69
23 38 0.01257 75.41
22 39 0.01202 72.13
21 40 0.01148 68.85
20 41 0.01093 65.57
19 42 0.01038 62.30
18 43 0.00984 59.02
17 44 0.00929 55.74
16 45 0.00874 52.46
15 46 0.00820 49.18 sum 37 to 48 mnth
14 47 0.00765 45.90 int rm
13 48 0.00710 42.62 0.12131 727.87
12 49 0.00656 39.34
11 50 0.00601 36.07
10 51 0.00546 32.79
9 52 0.00492 29.51
8 53 0.00437 26.23
7 54 0.00383 22.95
6 55 0.00328 19.67
5 56 0.00273 16.39
4 57 0.00219 13.11
3 58 0.00164 9.84 sum 49 to 60 mnth
2 59 0.00109 6.56 int rm
1 60 0.00055 3.28 0.04262 255.74

total 1.00000 6000


did i get it correct? so the table for respective year interest charged for a 5 year loan is
yr1 35.7%
yr2 27.9%
yr3 20.0%
yr4 12.1%
yr5 4.3%

my table seems different from yours, enlighten me please?

the tables somehow does not display correctly, let me try and edit...
this is so not table display friendly! hope that the readers can see what the tables mean.

2 cents

This post has been edited by mouldybread: Mar 26 2009, 10:47 AM

I think in a way we proved that by paying up the credit card debt by using the amount of "installment amount to be paid to personal loan" is more worthwhile than securing a personal loan to pay down credit card.

Cheers.

Hi... i'm going to appl EON personal loan tommorow. Heard the interest is 7.5%Pa ??? Anyone apply b4??

CORRECT DE MUNDO !!
thats why i chose Public to reduce my cc debts.
they charge 5%...UPFRONT....ONE TIME...
eg: u transfer 10k
interest payable is 500..n u have to pay upfront
thereafter, u simply pay 10,000/24months = 416.67
Total payable = 10,000 + 500 = 10,500

so far the best personal loan that I found is stanchart @8.50% REDUCING or 0.71% per month.
Maybank's BT plan is better than Public actually at 0.375% per month but the savings works out to 1.52 per month....quite negligible if u ask me..



This post has been edited by Vieri777: Mar 27 2009, 10:17 AM

ive working with gov (state)..and im just 4 month being there... can i apply for personal loan? i will do salary deduction and provide confirmation letter for this.

p/s: ive tried bank islam but failed..

This post has been edited by NeophyteHeaven: Mar 27 2009, 08:49 PM

Hey, Standard Charted give 8.5% p.a. If interested please leave me a msg

which dept within the state govt? reason being - some depts may be tagged as a non-tgt market.

secondly, most of them require 6 months on the job - but with your confirmation letter.....it should be ok.

yea..it listed on target market...but the problem is i just work 4 month.. if not it was np. is there any bank where i can reach for personal loan? coz i want to use money asap..wanna try side business but need $$

Does anyone know any contact of Bank Rakyat loan officer ?

actually bank muamalat only offer PL to goverment servant, selected corporate company, statutory body and ipta....this is a new product being brought up by the bank for the past few month...u can pm me if interested to get extra info...will give u the right number to call later...interest rate is at 5.7% if im not mistaken...

This post has been edited by Asus: Apr 1 2009, 09:57 PM

Try Bank Rakyat. They have a special p.loan catered for govt servants < 6 months on the job, and not yet confirmed.

however, if memory serves - they put a maximum cap on the loan of rm 10K......but pls check. my memory is rusty.

---

Added on April 1, 2009, 11:53 pmgo for alliance bank. currently they have a promotional rate of 5% for govt sector. in terms of rates - it can't get any lower than this in the meantime.

This post has been edited by Phoeni_142: Apr 1 2009, 11:53 PM

thanks...ive tried..and seems can..for gov sector under 6 month.. my max is 25k...but i wont need that much.. but need guarantor gov oso..and must have biro angkasa.

for personal loan like BSN, bank rakyat ,
kerja swasta can apply?? or kerja with government only

i just applied yesterday at alrajh ... they said 1 week to know
approve or not..

for certain ones like bank rakyat and BSN - swasta can apply.

however - they only do salary deduction. In other words, your HR dept must have a tie up with those banks or agree to have a tie up with those banks.

In other words, it's an uphill battle for swasta to apply. If you belong to a GLC company - chances are that it'll be easier.

---

Added on April 2, 2009, 8:35 amNo worries, chief If you're a government servant attached to a government body, chances are your organization will have Biro Angkasa salary deduction code.

if in doubt, just check with your dept head or HR. cheers.

This post has been edited by Phoeni_142: Apr 2 2009, 08:35 AM

biro angkasa....
it means automatic salary deduction?
such a weird name

swasta susah la nak apply...

This post has been edited by obiwankedah: Apr 2 2009, 06:35 PM

Hey, I got a friend work at Standard Charted
8.5% interest p.a

No need guarantor and deposit and approve within 24 hours

yup got sms from al rajhi bank... personal loan approved
in just 3 days time...
ok go!

pls correct the following if wrong..


Hong Leong bank

Affordable monthly installment
Loan Amount 2 Years 3 Years 4 Years 5 Years
RM5,000 RM258.33 RM188.89 RM154.17 RM133.33
RM10,000 RM516.67 RM377.78 RM308.33 RM266.67
RM20,000 RM1,033.33 RM755.56 RM616.67 RM533.33
RM50,000 RM2,583.33 RM1,888.89 RM1,541.67 RM1,333.33
Note: Interest Rate is flat 1% per month

= 12% setahun!!!
==================

AL rahji bank
8.5% setahun

tapi ada fees la, dalam RM300 processing, stem duti dan insurans
okla

sini
http://www.alrajhibank.com.my/content/arb_...c/pf_calc_b.htm
=======================

CIMB
FlexiCash "Term Loan" : BLR* + 6.10% per annum (daily rest)
* BLR is currently at 5.95%

= 12.5% setahun!!!

========================

Standard Chartered
http://www.standardchartered.com.my/person...e/en/index.html

aku tak faham??
which one?
Financing Amount/
Interest Rate 8.50% 10.00% 11.25% 13.50% 17.00%

====================

RHB bank

Interest Rate from (p.a.)
Tier 1 RM2,000 RM10,000 =13.45%*
Tier 2 RM11,000 RM50,000 =11.66%*
Tier 3 RM51,000 RM99,000 =9.91%*
Tier 4 RM100,000 RM150,000= 6.49%*

=======================

HSBC
Flat rate from 10% pa

========================

who can tell on maybank's interest for personal loan?
thanks

This post has been edited by obiwankedah: Apr 3 2009, 01:57 AM

Im interested with Bank Rakyat...gona try to call and ask them(although I dont speak banking language lol)

im a private sector employee, and from the requirement, I shud've passed ngam2...working duration and all..

but private sector also need guarantor? hate this part lol...

private a bit difficult to get... more hassle if with bank rakyat or BSN..

they need the biro angkasa thing...

aiyaaa issit....

my 3 frens are pvt sectors, all oso got max loan...80k ...how they got it T____________________T