Hi all Sifus and Gurus, would like to seek to understand. If a full advance payment was made to a semi flexi loan during the lock in period.

1. Would that be considered a breach of the lock in conditions and are subject to penalty?
2. If it is a breach of the lock-in conditions, what would be the best way to reduce the most interest, other than a full advance payment?
3. If a full advance payment is made do I still need to make any monthly payment?

Thanks in advance and apologies if this question has been asked and answered before.

For semi-flexi, if you want to consider avoiding interest during lock-in period, you can do 99% advance payment. My own experience for 400k loan, I paid 399.9k leaving a few hundered ringgit inside, so far so good. It's maybank semi-flexi loan.

For 99% advance payment, the money will go into an accrual account, and monthly payments will be deducted from there. For full advance payment, afaik the account will be closed.