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Put $ to FD better or clear housing loan better?, 25 years,4 percent, RM 300,000
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iGamer
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 Feb 8 2024, 09:35 AM
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QUOTE(cHaRsIeWpAu^^ @ Feb 8 2024, 09:32 AM) have some cash with you rather than all in housing loan. its always good to have some emergency funds anytime in your life. Why not both? Have less housing loan principal while still having emergency cash? How? Full flexi or semi flexi housing loan. Ayam used to have full flexi housing loan, the money left in current account practically offset the full housing loan (zero loan interest every month), if need emergency cash, can still withdraw from the current account at will. |
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vin6
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Feb 8 2024, 09:40 AM
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Getting Started
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QUOTE(billyboy @ Feb 8 2024, 04:33 AM) Interest paid on loan is tax deductible Interest from FD is taxable Depends on tour tax position Care to elaborate on this statement " Interest paid on loan is tax deductible" . How and where? |
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hteekay
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Feb 8 2024, 09:41 AM
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Getting Started
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I rather clear off house loan for the peace of mind.
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hoonanoo
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Feb 8 2024, 09:45 AM
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QUOTE(billyboy @ Feb 8 2024, 04:33 AM) Interest paid on loan is tax deductible Interest from FD is taxable Depends on tour tax position wah you so generous pay tax on your FD interest |
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prdkancil
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Feb 8 2024, 09:46 AM
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Getting Started
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My reit and bluechip gv >6% return .
400k i can get div around 24k annual = 2k monthly .
If invest 400k high rise nett rental (after minus maintenance fees , repair , lapsap tenant , no tenant etc ) can get 2k per month ?
High rise now sell at future price , price stagnant few years ago , alot lelong unit , new condo build nex to u selling same price , after yrs ppl bother looking for old unit .
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hoonanoo
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Feb 8 2024, 09:47 AM
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QUOTE(WH4CockcooBird @ Feb 8 2024, 08:13 AM) Make it simple for you. If you have paid more than 7 years of your 25 years housing loan then put money in FD better. Or throw 100k into the housing loan to reduce principle on loan and balance to FD. Housing loan interest are loaded up front, not straight line. You paid 90% interest 10% principle on first few years. Therefore trying to clear the loan after paying most of the interest is very welcome by bank 😬 and a bit unwise for you. so when is the threshold you can start clear loan? See payment schedule for % interest % principal? |
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cHaRsIeWpAu^^
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Feb 8 2024, 09:49 AM
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QUOTE(iGamer @ Feb 8 2024, 09:35 AM) Why not both? Have less housing loan principal while still having emergency cash? How? Full flexi or semi flexi housing loan. Ayam used to have full flexi housing loan, the money left in current account practically offset the full housing loan (zero loan interest every month), if need emergency cash, can still withdraw from the current account at will. then your credit score will be stuck there lo. if wanna apply new housing loan then hard already. |
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iGamer
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Feb 8 2024, 09:51 AM
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QUOTE(cHaRsIeWpAu^^ @ Feb 8 2024, 09:49 AM) then your credit score will be stuck there lo. if wanna apply new housing loan then hard already. Kindly elaborate on how the credit score stuck.  |
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cHaRsIeWpAu^^
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Feb 8 2024, 09:53 AM
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QUOTE(iGamer @ Feb 8 2024, 09:51 AM) Kindly elaborate on how the credit score stuck. eg you having housing loan 500k, you park your money at semi/fully fexi loan. if you wanna apply another 500k housing loan, it will be hard, unless your income very high. |
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iGamer
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Feb 8 2024, 09:55 AM
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QUOTE(cHaRsIeWpAu^^ @ Feb 8 2024, 09:53 AM) eg you having housing loan 500k, you park your money at semi/fully fexi loan. if you wanna apply another 500k housing loan, it will be hard, unless your income very high. You mean you prefer to clear housing loan A first before applying for housing loan B is it? Of course you can, my statement was about having only one housing loan. |
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Deathscythe@@
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Feb 8 2024, 09:55 AM
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QUOTE(cHaRsIeWpAu^^ @ Feb 8 2024, 09:53 AM) eg you having housing loan 500k, you park your money at semi/fully fexi loan. if you wanna apply another 500k housing loan, it will be hard, unless your income very high. Before apply, cash out the advance repayment first? This post has been edited by Deathscythe@@: Feb 8 2024, 09:56 AM |
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hoonanoo
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Feb 8 2024, 10:15 AM
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QUOTE(wilsonjay @ Feb 8 2024, 06:03 AM) Huh since when interest paid on loan is tax deductible? if you use the property for rental. can be used to deduct from your rental income. only interest portion ya, not principal This post has been edited by hoonanoo: Feb 8 2024, 10:16 AM |
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Jingle91
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Feb 8 2024, 10:21 AM
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QUOTE(billyboy @ Feb 8 2024, 04:33 AM) Interest paid on loan is tax deductible Interest from FD is taxable Depends on tour tax position Tax on FD interest only applicable for company right? for personal fd interest is still tax free |
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Jingle91
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Feb 8 2024, 10:27 AM
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QUOTE(prdkancil @ Feb 8 2024, 09:46 AM) My reit and bluechip gv >6% return . 400k i can get div around 24k annual = 2k monthly . If invest 400k high rise nett rental (after minus maintenance fees , repair , lapsap tenant , no tenant etc ) can get 2k per month ? High rise now sell at future price , price stagnant few years ago , alot lelong unit , new condo build nex to u selling same price , after yrs ppl bother looking for old unit . Ya, it is getting harder to gain from property investment, only agents who selling properties can make money. Unless you just wan to diversify. Many of my middle age colleagues have liquidated their property investment to pump into their EPF until over 1 mil, so every year can cash out some of the dividends for spending. |
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TSplouffle0789
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Feb 8 2024, 10:30 AM
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QUOTE(prdkancil @ Feb 8 2024, 09:46 AM) My reit and bluechip gv >6% return . 400k i can get div around 24k annual = 2k monthly . If invest 400k high rise nett rental (after minus maintenance fees , repair , lapsap tenant , no tenant etc ) can get 2k per month ? High rise now sell at future price , price stagnant few years ago , alot lelong unit , new condo build nex to u selling same price , after yrs ppl bother looking for old unit . May I know which reits you bought? You never put to KWSP also? |
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hoonanoo
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Feb 8 2024, 10:31 AM
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QUOTE(cHaRsIeWpAu^^ @ Feb 8 2024, 09:53 AM) eg you having housing loan 500k, you park your money at semi/fully fexi loan. if you wanna apply another 500k housing loan, it will be hard, unless your income very high. how to check our credit score? have to buy from CTOS ? |
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hoonanoo
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Feb 8 2024, 10:33 AM
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QUOTE(Jingle91 @ Feb 8 2024, 10:27 AM) Ya, it is getting harder to gain from property investment, only agents who selling properties can make money. Unless you just wan to diversify. Many of my middle age colleagues have liquidated their property investment to pump into their EPF until over 1 mil, so every year can cash out some of the dividends for spending. poster prdkancil says that his reits get good return. So how does reit achieve > property investment ? Sounds interesting liquidate property to put money back into EPF. I am thinking of doing this. If only I can find takers for my condo This post has been edited by hoonanoo: Feb 8 2024, 10:33 AM |
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stevenryl86
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Feb 8 2024, 10:39 AM
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FD or other investment
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stevenryl86
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Feb 8 2024, 10:40 AM
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QUOTE(hoonanoo @ Feb 8 2024, 10:31 AM) how to check our credit score? have to buy from CTOS ? Credit score is scam. Banks have different credit requirements |
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hoonanoo
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Feb 8 2024, 10:42 AM
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QUOTE(stevenryl86 @ Feb 8 2024, 10:40 AM) Credit score is scam. Banks have different credit requirements then I would not be able to evaluate my own credit rating? I think next best guess is to look at my cCRIS |
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