Dear sifu sifu,

Which is the better approach ah? Lump sum annually or monthly dump in extra?

flexi loan the best ....
just put into the current account

Problem mine is conventional one..

refinance and change product

is that the only way ka? sedih

conventional loan..u paid the principal..u cant take out..
so..i would say full flexi is much better....refinance lo...

Conventional one mean fix term-loan? If you are term loan, there are not benefit you settle early, and please check your contract, if you clear early may involved with penalty charge.

So if let said you ready want to settle early, then i will said lump sum (save until you able to fully settled) the payment. In between you can put the money at FD to earn interest)

Because not point you lump sum annually or monthly dump in extra but not benefit on saving the interest under term loan.
or you can refinance to semi-flexi / fully flexi loan.

May i ask how many % interest rate in your current loan? If it higher than 4% like 6%+-, better refinance if possible, if it 4%, then better saving until lump sum settlement.

Currently @ 4.82%, I think its fix term loan but need to double check tho..outstanding amount around 200K

This post has been edited by anzen600: Nov 4 2023, 11:58 PM

4.82 ya, hmm if I am you, I will not brother with doing refinance kind of hassle and pay for legal feel. Except your property already appreciated valu and you think to refinance and cash out the money to some purposed then only you can consider.

Choose those zero moving cost, market around 4.20%.....far better then your 4.82%..