Welcome Guest ( Log In | Register )

Outline · [ Standard ] · Linear+

> What is/How to calculate BLR and interest rate?, Please show a sample calculation/explain

views
     
Money-management
post Mar 19 2013, 01:54 PM

New Member
*
Newbie
3 posts

Joined: Mar 2013
QUOTE(lsang @ Jan 16 2012, 03:12 PM)
Hello, sorry to piggyback on this thread. I didn't find any post related to the question and did not want to open a new thread.

Question - Should i withdraw my AccountII EPF to reduce my remaining loan balance or just leave it dormant in EPF?
Considering, housing loan interest is calculated on daily basis i'm assuming even with a BLR -1.9, the interest would be still higher compared to EPF return since EPF is culculated on annual basis?
Appreciate any replies ya. Thanks!
*
No, not advisable, coz u will automatically or indirectly affect ur tenure of repayment with extra repayments still.
Money-management
post Mar 19 2013, 02:03 PM

New Member
*
Newbie
3 posts

Joined: Mar 2013
QUOTE(vergas @ Aug 2 2007, 05:07 PM)
I'm very surprise to see that you don't use reducing balance since housing loan in malaysia use reducing balance. kenji1903 link  http://www.fiscal-wise.com.my/FiscalWiseWe...nRepayment.aspx would do the calculations and the answer is RM2832.80 per month. Unfortunately you need to use IE and not firefox to view it properly. I have checked using financial calculator.

Alternatively you can use excel
=PMT(0.0525/12,30*12,513000,0,0)
It will give the same answer

where it is =PMT(rate /12 since its monthly payment, number of installment (30 years times 12 months), loan amount, default, default)

btw: BLR is not set by Bank Negara (like suggested by agent7) , its set by individual bank. Bank Negara set the OPR (Overnight Policy Rate).
*
OPR is also affect by IMF, to realize the BLR rate ... Is this such case.. what if tenure and interest cut to 50%
cthoong
post Aug 12 2013, 12:34 PM

New Member
*
Junior Member
6 posts

Joined: Nov 2010
QUOTE(Money-management @ Mar 19 2013, 02:03 PM)
OPR is also affect by IMF, to realize the BLR rate ... Is this such case.. what if tenure and interest cut to  50%
*
http://www.imoney.my/home-loan?utm_source=...CFfF24godPVEAhg
estee0807
post Nov 13 2015, 10:35 AM

New Member
*
Junior Member
9 posts

Joined: Nov 2015
You can use this website called Loanstreet to check the latest BLR and interest rates. Besides, this website also helps you to compare and find the best housing loan in Malaysia.
The service provided by Loanstreet is free to use and also very easy to understand. Love it!

This post has been edited by estee0807: Nov 19 2015, 12:03 PM

3 Pages < 1 2 3Top
 

Change to:
| Lo-Fi Version
0.0100sec    0.63    5 queries    GZIP Disabled
Time is now: 29th March 2024 - 10:34 PM