Apr 27 2022, 09:51 AM
QUOTE(johnnycp @ Apr 27 2022, 08:25 AM)
Like how not worth it, care to explain? My math phailed
Example my epf only has 500k, but my housing loan got 1.2m included interest to pay. In this case is it better to withdraw epf 100k+ to reduce the loan principle amount? I see most people here only talking about interest rate comparison without comparing the principle amount
If you transfer RM100k to reduce home loan principle, your epf account loses 6% of the 100k amount, while your home loan saves on 3 or 4% (depends on the interest) of the 100k you paid off. Example my epf only has 500k, but my housing loan got 1.2m included interest to pay. In this case is it better to withdraw epf 100k+ to reduce the loan principle amount? I see most people here only talking about interest rate comparison without comparing the principle amount
Is it worth it?
Your home loan still has RM1.1 principle that incurs interest at 3, 4%.
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