May 30 2025, 01:19 PM
QUOTE(TTZK @ May 30 2025, 01:07 PM)
Let me rephrase:
For a 5-year loan, I would pay RM 1,500 per month. If instead I take a 35-year loan but voluntarily pay RM 1,500 per month, would the total cost or interest differ?
If there’s no difference, why wouldn’t I choose the 35-year loan for the added flexibility—after all, the minimum payment is only about RM 350 per month?
If you going to take a loan of 80K only, most likely the bank won't entertain you as the interest they will earn will be very low and not worth the effort.For a 5-year loan, I would pay RM 1,500 per month. If instead I take a 35-year loan but voluntarily pay RM 1,500 per month, would the total cost or interest differ?
If there’s no difference, why wouldn’t I choose the 35-year loan for the added flexibility—after all, the minimum payment is only about RM 350 per month?
But you might be able to secure a loan with lower deposit, meaning you take a higher loan amount. But you try to get a flexible loan with day interest. With that once your loan is approved and disbursed, you can "pay upfront" your loan, and your interest payment will be lower
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