hi all,

assume i bought a property that is ready 4 years later, can i opt to pay extra to clear my principal loan amount during progressive interest stage.

example first four months, progressive interest is RM300 monthly. can i pay RM1300 for the first 4 months, where the RM1000 deduct my overall principal amount?
if yes, will my actual loan service (after 4 years and VP property) reduced, means instead of monthly RM2200 (assumption), it will be reduce to lower that amount because i cleared some principal amount during the 4 years progressive interest stage ?

Hi Gurus, I want to check with you guys on my loan repayment arrangements with my Bank.
Currently my bank's process for mortgage repayment is;

1) Bank created a special saving acc
2) Bank instruct to deposit the monthly installment amt into this acc, and it will automatically-credit to the Mortgage acc
3) Bank said if I have extra, I can deposit excess/extra into this saving acc, and the interest % will be calculated daily. (Excess money can be withdrawn anytime with some charges)
4) Aside from No.3, if I wish to pay extra on principal amount, I need to give 1 month notice to bank and arrange accordingly with their officer.
The above said, my questions are :

A) I asked bank if I want to pay extra monthly, what should I do? since I cannot pay to the Mortgage account directly. Then my bank advised me to just deposit the excess money here and the interest will be reduced.
B) Have any of you come across similar arrangements with your banks?