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

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Giny2008
post Sep 9 2008, 01:42 PM

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Joined: Sep 2008
QUOTE(agent7 @ Jul 31 2007, 12:09 PM)
Hi there,  biggrin.gif

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.  smile.gif

Regards,
Edwin Thong
edwinthong@easternlink.com.my
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[QUOTE]

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

 

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