Maybank islamic semi flexi, this is what my banker told me

[24/07/2024, 15:43] N***: 1st option:

U can pay extra to save the interest, example if loan released 500k, let say u pay 400k into loan acc. Then bank only charge u interest based on 100k

This 400k still in your loan acc and if u want withdraw still can withdraw via online or branch, withdrawal fee RM25 per transaction.

2nd option:
After u transfer the 400k into loan acc, fill in the service request form and hv to walk in any branch, to inform branch to off set the payment(direct pay to the bank), if u off set the payment u cannot withdraw anymore

[24/07/2024, 15:45] m*******: Is there benefit on 2nd option?

[24/07/2024, 15:45] N***: Actually both also same. Just 1st option u still got a flexibility for your cash flow

Option 2 is direct pay to the bank, u can settle the loan faster

My loan is with MBB as well, the mortgage officer told me that even if i put a large amount into my account, the monthly installment will remain the same, just that the bigger portion will go to reducing your principal.

That is weird. Semi-flexi loan? My instalment reduces. But I continue to pay the initial amt to reduce the principal (yes, this happens to me as well). But I have the option to pay the lower instalment amt also if I choose to do so

What bank you using?
Semi Flexi wont cut off your instalment usually but will reduce your interest.

Maybank. The monthly instalment amt reduced as I put in more. The banker also told me before that the instalment amt will be re-calculated every cycle (6 mths if not mistaken)

Huh..so weird i am also maybank..but it only reduce interest so far...