progressive interest vs principal
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 Aug 3 2020, 09:32 PM, updated 6y ago
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#1
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Junior Member
28 posts Joined: Jun 2009  
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New buyer here.
As i know, progressive interest that need to pay during construction time doesn't deduct the loan amount that we borrow from the bank. Therefore can we straight away request bank to charge by full amount as principal+interest? Spoken with banker, she said cannot so just want to double confirm if any other banks got such offer. Any Sifu can advise/ share? |
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Aug 4 2020, 09:28 AM
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#2
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Junior Member
28 posts Joined: Jun 2009
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thank you all. let me check with my banker
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Aug 5 2020, 05:44 PM
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#3
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Junior Member
28 posts Joined: Jun 2009
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QUOTE(claudetan @ Aug 5 2020, 04:38 PM) no need to request bank charge full amount, you just need to pay the amount you want, let said your monthly install as per loan agreement is 5k, now before VP, you pay 2k interest every month, instead of paying 2k, you can pay 5k which the remaining 3k will go to principle. well banker said if pay more example - 3k will only park there and reduce the principal interest rate not offset the principal for semi flexi loan. if want to fully deduct as per full installment, need to sign another doc. |
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Oct 7 2020, 05:31 PM
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#4
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Junior Member
28 posts Joined: Jun 2009
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QUOTE(SSR @ Sep 24 2020, 11:57 PM) Any pro & cons if we still pay full monthly instead of progressive payment? pro- save on interest & shorter tenure. small number make big differencecons - u need to pay more |
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