If your interest rate is 2.8% on 100k amount with 9 years repayment, your EFFECTIVE interest rate is 5.15%. You need to find investment that earn more than 5.15%, guaranteed....like EPF savings

Always use EFFECTIVE interest rate to compare

Effective rate is due to how the loan is structured, even though you reduce the outstanding, interest paid remain the same as opposed to mortgage where reduce outstanding = less interest charge on subsequent period

Banks do this as they can advertise with a smaller % number

It's like Telco, advertise xxxx Mbps paschal the b means bits

If convert to Bytes, the xxxx Mbps will to divide by 8

"FC" is your wife? Never explain to u?

At same time 4% FD is also not TRUE INTEREST also, it will be more. Yr money will be more & more if u not take any interest yearly.

Truth is u can seldom get long term FD rate higher than loan interest.

Aiyoh, the EIR for 2.3% car loan of 5 years is 4.37%, how is it lower than  3% FD?

say u have 100k

instead of paying the 100k cash to buy a car, u decided to put in FD at 3% per annum (at 1 month tenure renewable for easy withdrawal if required)  and take a car loan of 100k at 5 years tenure at 2% per annum

total interest for 5 years for car loan is 10% or 10k

monthly installment = 1833, first year installment total = 22k

u need to takeout money from FD to pay for installment monthly, after 1 year FD left = 100k + 3k interest - 22k installment = 81k, in fact the figure will be even lesser because u pay installment monthly and u wont get the full 3k interest

after 2 year, FD left = 81k +2430 -22k = 61430
after 3 year, FD left = 61430 +1843 -22k = 41273
after 4 year, FD left = 41273 +1238 -22k = 20511
after 5 year, FD left = 20511 +615 -22k = -974

if u dont understand the above calculation, good luck for your financial planning

Hehe, one should just buy that EV and enjoy while it last. Can recycle is at the end of its useable life.

If one keep calculating (buy cash / loan / FD, etc), then one might not even have enough money to begin with. 

Some got Home Solar system, so it's almost Free fuel. Each month can save like RM300-400 petrol bill, satisfied you?