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 Using e-wallet to pay Laptop RM3000.00

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leanman
post May 15 2024, 08:51 AM

Da LYN Man
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QUOTE(MUM @ May 14 2024, 05:02 PM)
Wondering,
Will you get more, if you pay with credit card, then transfer it to instalments with 0 interest campaign?
The existing 3000 can be set aside earn interest?
*
say if you set aside to GX bank for the 3% and you take a 6 months interest free installment, still better off if you direct purchase using GX DR card for the 1% CB
leanman
post May 15 2024, 01:40 PM

Da LYN Man
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Senior Member
2,257 posts

Joined: Aug 2005
QUOTE(contestchris @ May 15 2024, 01:12 PM)
How so?

Direct purchase rebate: RM3,000 * 1% = RM30.00
Installment purchase (6m @ 0%) interest: ~ RM3,000 * (1/2) * (1/2) * 3% = ~ RM22.50 (i.e. you pay back 1/6th every month)
*
QUOTE(Medufsaid @ May 15 2024, 01:19 PM)
| =600*(1+0.03/12*1)-600 | RM1.5 |
=600*(1+0.03/12*2)-600 RM3
=600*(1+0.03/12*3)-600 RM4.5
=600*(1+0.03/12*4)-600 RM6
=600*(1+0.03/12*5)-600 RM7.5
RM22.50
*
Is the above calculation stipulating that if you put the RM3000 under 3% pa and over 6 months you will get RM22.50 interest?
where every month you are repaying RM600.

If yes, this is what I am saying, upfront 1% of RM30 is better off than the RM22.50
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