Jan 27 2025, 01:08 PM
QUOTE(rocketm @ Nov 13 2022, 02:44 PM)
My parent is having a CIMB Flexi Home loan.
When I saw the online account, the Current Balance is MYR (40K+) while the Available Balance is MYR123K+.
From the monthly bank statement, there is New Limit until this month end is RM164K+ and Limit Reduction Amount is RM2K+
I would like to know whether my parent is still owed the bank based on Current Balance, but the Available Balance is the extra amount that can be cash out for personal use using debit card that she has?
What is the New Limit and Limit Reduction amount means?
If my parent wants to make full settlement with rebate, roughly how much she has to ready?
I went to cimb branch to ask loan officer already, the LIMIT REDUCTION AMOUNT is your principal reduction amountWhen I saw the online account, the Current Balance is MYR (40K+) while the Available Balance is MYR123K+.
From the monthly bank statement, there is New Limit until this month end is RM164K+ and Limit Reduction Amount is RM2K+
I would like to know whether my parent is still owed the bank based on Current Balance, but the Available Balance is the extra amount that can be cash out for personal use using debit card that she has?
What is the New Limit and Limit Reduction amount means?
If my parent wants to make full settlement with rebate, roughly how much she has to ready?
your NEW LIMIT is the total owed to bank, in your case is RM164k, so after deduct it will be RM164k - RM2k = RM162k
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