QUOTE(billyboy @ Oct 10 2023, 09:29 AM)
compound interest is the 8th greatest wonder of the world
And it's a double-edged sword, that can serve and punish you. Just need to be smart.Housing loan is scary
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 Oct 10 2023, 02:46 PM
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Oct 10 2023, 02:47 PM
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#2
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QUOTE(robotking123 @ Oct 10 2023, 09:28 AM) Loan 350k Housing loan interest is simple to understand la, go get a loan without understanding is just dumb.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... |
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Oct 10 2023, 02:48 PM
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QUOTE(desmond2020 @ Oct 10 2023, 09:31 AM) now this is smart move Not so smart if he put it elsewhere that was yielding more than the housing loan interest rate |
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Oct 10 2023, 02:51 PM
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#4
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QUOTE(robotking123 @ Oct 10 2023, 09:40 AM) House loan should follow car loan, max 9 years and fixed interest. Today bought Benz 300k loan 9 years also not this expensive. How come house loan interest so high than car? You are extra bodoh, a car loan's actual Effective Interest rate is nearly double the published simple interest rate. |
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