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MORATORIUM PEMBIAYAAN BANK SEMPENA WABAK COVID
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yong116
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 Jul 26 2021, 12:57 PM
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New Member
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Guys, seeking for some explanation on my mortgage loan, want to know more details before i make decision on this Moratorium 2.0.
Below are some details of my mortgage loan:
Loan Type: CIMB Flexi Mortage Loan Number
Current Interest Rate: 3.2%
Assuming Total Outstanding: RM500K
Assuming Installment Per Month: RM1980
Assuming Interest Per Month: RM1333.33
Assuming Interest after 6 months (taking Moratorium) : RM8000
If i'm resume to pay the same installment RM1980/month after 6 months and onwards until maturity of my tenure:
1. How long it would be taken to complete the loan?(must e exceeding 35 years but how to get the actual tenure?)
2. Total extra payment should be around RM20k after 35 years?
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yong116
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Jul 26 2021, 01:42 PM
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New Member
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QUOTE(victorian @ Jul 26 2021, 01:13 PM) Take rm8000 and roll it over the remaining tenure at a rate of 3.2% (assuming OPR doesn't change). Final amount payable should be around 25k + 1980 (final installment). Amount should be higher since OPR will probably increase over the years. The amount of 6 months installment from now is RM1980 x 6 = RM11880 compare to RM25K after 35 years(minimum assumption as OPR will be higher) If i opt this moratorium, RM11880 need be use wisely for necessity and try to reduce the principal in coming years since CIMB not allow to extend the tenure. |
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yong116
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Jul 26 2021, 02:28 PM
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New Member
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QUOTE(victorian @ Jul 26 2021, 01:48 PM) Sorry I overlooked, it's 12k amount deferred. Then the amount is 36k after 35 years. Wow, this is a huge amount. Do u use any formula or calculator to come out with this figure? I can't find any calculator in Google. |
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