QUOTE(agent7 @ Jul 31 2007, 12:09 PM)
Hi there,
BLR in M'sia now is 6.75%, set by Bank Negara.
It depends on which bank and which loan package you take,
For example:
Let's say Bank U offers u a package of BLR-1.5% for 30 years. (BLR = 6.75%)
Means 6.75-1.5 = 5.25%. If u borrow full loan, means 90% from RM 577,000,
your loan amount is 90% x RM 577,000 = RM 513,000.
Your interest is 5.25% per year of the loan amount.
You will be paying about RM 3,669 / month for this loan example (without calculating reducing balance) since this is a normal maths calculation.
Hope this simple explanation enligtens you a bit.
You may contact me for free consultation, I am a financial planner.
Regards,
Edwin Thong
edwinthong@easternlink.com.my
[QUOTE]BLR in M'sia now is 6.75%, set by Bank Negara.
It depends on which bank and which loan package you take,
For example:
Let's say Bank U offers u a package of BLR-1.5% for 30 years. (BLR = 6.75%)
Means 6.75-1.5 = 5.25%. If u borrow full loan, means 90% from RM 577,000,
your loan amount is 90% x RM 577,000 = RM 513,000.
Your interest is 5.25% per year of the loan amount.
You will be paying about RM 3,669 / month for this loan example (without calculating reducing balance) since this is a normal maths calculation.
Hope this simple explanation enligtens you a bit.
You may contact me for free consultation, I am a financial planner.
Regards,
Edwin Thong
edwinthong@easternlink.com.my
Hi, may i know how to calculate if first year the interest is 5, then second year is 5.75 and the thereafter year is 6.75? Anyone have complete calculation formula for this issue