Oct 22 2019, 05:32 PM
QUOTE(talzer @ Oct 22 2019, 04:31 PM)
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 ?
not sure which bank that you mentioned, but as i know , u can still paid for principle even under construction, but the method of paying will be different.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 ?
example. ur progressive payment is 300 but u decided to paid 1300 whereas 1000 for principle, so u need to paid the 300 first, den select paying principal amount by 1k or when to counter and paid for that....of course, depend on bank as each bank have their own policy
2nd , ur monthly installment wont be reduce even u paid a lot on principal , just u will settle ur loan earlier, if u decided to lower down your loan, u can go to re-finance with lower loan amount..
correctly me if i am wrong as some information was taken from my banker when he explained to me during my signing
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