I would like to ask regarding the full settlement personal loan for rhb or any other bank?

What type of charges they will imposed if you paid in full?

Exit fee I understand. Is this same with penalty fee??

5% of your (balance + interest).

Can gv example?? A bit dumb here

Personal loan settle early no benefit one , bank either charge u for the whole year or full interest. Many sohai that keep settle PL early they tot they smart by cutting the interest rate down by getting another PL actually pay double interest they don't even notice it .

let say you take RM5K loan for 5 years. After adding interest, total amount you owe bank become, let say RM8k.

after sometime, you decide to do full settlement. At that time, from 8K you owe to bank, now the balance has become (let say) RM6K after
you diligently pay your installment every month.

So, when you do full settlement, the amount you need to pay is RM6k + 5% full settlement fee which is RM 6k + (5% x RM6k) = RM6300.

maybank - https://www.maybank2u.com.my/iwov-resources...conv_130513.pdf

here is shown if pay early in first half of schedule.
not sure what happen if you pay after the half time

6. Can I fully settle the financing before its maturity?
• Yes, but an early settlement fee of RM200 or a sum equivalent to 3% of the outstanding balance of the loan amount (whichever is higher) will be charged if settled within first half of the loan tenure.
• You must inform the Bank immediately by calling our Maybank Group Customer Care at 1300 88 6688 or sending an email to
mbbcardservices@maybank.com.my if you have settled the Facility before the expiry of the loan tenure to avoid incurring monthly interest.

If there’s no saving from early settlement, and even need to penalty, what’s the benefit or point of early settlement?

Might as well just keep the money and continue monthly instalments.

contact the bank relevant department lo, u want printout this tered then argue with them if different meh

Wtf? Early settlement still need charge? Didn't pay also need charge. Apa lagi bank mau??

As I know if car settle early, got cheaper.

My gf punya myvi she wanna settle it (balance 6 months) coz she wanna buy new car. She go make early settlement, cheaper like RM500

no la, argue for what.

lol tak surprise....if u owe balance 100, 5% of that lo....rm5

Park

Why you take personal loan in the first place? How much?

Settled, thread kolos~~~