hi

i would like to ask regarding semi flexi loan. sifus opinion here are all welcomed

from calculator, if i intend to get housing loan of eg 300k

over 20 years, interest based on 4%:
- 100+k
- monthly payment 1800

over 30 years, interest based on 4%:
- 200+k
- monthly payment 1400


if i decided on the 30 years tenure and pay 1400 monthly but
however, after about 5 years, if i decided to pay 1800 as per the 20 years tenure (but still remained on the 30 years contract), does it mean in the end, the interest i eventually need to pay would be roughly as the 20 years tenure or will it be much higher since i have chosen 30 year tenure to begin with?

if i am able to commit to 1800 later, does it mean i have to do refinancing to change 30 years tenure to 20 years tenure?

or should i opt for 20 years tenure upfront to enjoy a lower cumulative total interest in the end?

thank you for the replies

would the same be applicable to mudarabah commodity type (islamic) loan as well?

does it mean even if i can afford to pay up 1800 per month now, i should still opt for the longer tenure despite having a higher cumulative interest? (in this case an extra excess of interest of additional 100% - 100k (20 years) vs 200k (30 years)
- as long as during payment i request for the extra payment be placed in principle?

how does the breakdown of extra goes in?
example if i pay 1400 per month, a portion will go into paying the interest. so if i can afford 1800, does it mean 1400 i should allocate for (principle + interest) and then the other extra 400 should be into the principle? is this doable?

is there any difference in paying
1800 (interest + principle)
vs
1400 (interest + principle) + 400 (principle)
over the long term period?

thank you for the reply

what about the poster above that mentioned islamic loan being different than conventional? in that case, would the duration of tenure be of importance? since early repayment may have different result? or islamic-based js basically just the same as conventional, only different in name?

can you elaborate more on the difference please and what kinda things to watch out for?

so sorry i don't get the bolded part. what does the bolded statement mean? can give an example please?