Hi All, would like to consult everybody on the car loan.
I borrow RM75000 from Maybank with 2.3% interest and payment for 7 years.
But how come the total interest is RM12075, so expensive 1??
any1 know how's the calculation work?

in the bank approved loan document, wht does it mean by "annual percentage rate.
Which mine is 4.33%

Thanks for the sharing !!!