my loan 452k including MLTA (21k, full refund upon early settlement), now condo still under construction, so got progressive interest.

already start paying full loan amount since March, the first month of interest. 1.8k principal, 200-250 interest every month. hnggg, still got another 3 years until the construction is done, dont know how much interest will be save till then, but quite a lot. ady repaid 14175.23 of my principal

what is progressive drawdown disbursed prepayment in layman terms ?


my loan currently already release 94k, based on progress. outstanding released amount is 79k. I dont have much in flexi loan as I spent most of them in downpayment, have like 6-10k, with additional 10k from bonus every yr

meaning your flexi loan can only offset interest up to 70% of the principal amount, if loan 100k, your flexi acc got 100k. they can still charge interest on 30k of the loan. it will never be 0%

yes i know, maintenance fee 200, and reno

but at least reduce quite an amount of interest in long run for the loan. paying 90% of the monthly installment to capital for the 1st yr quite syok

i see, well unless I work some good side job, I dont really have much cash to dump into flexi loan. only annual bonus and 12 month salary to dump into it annually, around 10K annually.

I also not keen on using EPF either since EPF higher interest.