Loan 350k
Today outstanding: 320k
Already served 6 years plus, 1500 monthly

6 x 12 x 1500 = 108k
108k - 30k = 78k

Bank already earned 78k interest from me, bloody hell
Gov should do sthg, how can house loan be so expensive...

U x sukak u bayar cash

Then stay in jungle build own hut

compound interest is the 8th greatest wonder of the world

That's how bank earn your money. If u got extra, just proceed with principal reduction.

if flexi loan. park all ur extra money inside

btw assuming you loan 350k at 4.15% with tenure 35 years. thats come about 1.6k a month. total interest paid to serve 35 years is 314k.

if u pay extra 1k a month, your tenure is cut off by 20 years roughly . you will settle your loan around 15 years with total interest paid roughly 120k.



This post has been edited by sheahann: Oct 10 2023, 09:34 AM

Unker ppr in 2013 buy only rm218k.

Monthly supposed to be rm1100 wonly.

But pay rm2k monthly now.

Currenlt principle left rm66k wonly.

Hope can fully settle within the next 2-3 years.

Just grow pubic hair ah TS?

now this is smart move

Want to ask ya if I put more money inside...it only reduces the loan duration right? Not the loan amount monthly right?

Friend...Bank also need to make money, to pay their staff and everyday expenses.

Nobody would give you loan if no profit.

I think the formula should be if you take a 350k loan, expect to be paying double the amount Loan + interest = 700k or more until your loan period ends.

First, banks are NOT your friends. Whether is GF, wife, or FWB, they will suck u dry like a vampire.

Second, banks are answerable to their shareholders. Profits are the only word they want to hear.

Third, don't ever commit to a loan if you're not prepared. Either save more or work 3 or more jobs to earn more income.

if maybank how to pay principal ?

it reduce the interest you need to pay for each month. in other word, your instalment contribute more toward principal amount

Siapa suruh miskin? Bank got point gun to your head to sign agreement?

loan sharks have their heyday over this

Aiyo.

Add in principal payment la...

I made the same mistake earlier

Please dump in more money until you unable to eat to settle loan first

x sukak... jadi slave to debt... sewa rumah jer la...

topkekk... pepolz nowadays during recession buy house,
90% downpayment... 10% loan... you go the other way for what??

Actually, there's nothing scary, if you dont plan to do early settlement.. whatever numbers shown, your installment numbers remain fixed (25/30 years or whatever duration you had chosen).

This post has been edited by zeese: Oct 10 2023, 09:34 AM