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 Any bank started reducing balance for HP?

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overfloe
post Nov 21 2025, 10:58 AM

Ain't nothing but a thang..
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2,211 posts

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From: stankonia
QUOTE(gobiomani @ Nov 20 2025, 08:28 PM)
Once change to reducing balance loan, the interest rates will also go up. Will not be 2%+ anymore but will start from 4%+ or even higher base. Good for those who usually sell their cars or settle early but no difference if you plan to pay the full tenure.
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current fixed-rate loan also got rebate for early settlement.. and knowing banks, they might increase the interest rate for the reducing balance loan type to offset their loss..
bank will always win. I hope this is not the case.
overfloe
post Nov 21 2025, 05:20 PM

Ain't nothing but a thang..
*******
Senior Member
2,211 posts

Joined: Jan 2003
From: stankonia
QUOTE(Fantasia @ Nov 21 2025, 05:00 PM)
Do you have any idea what's the ballpark in term of the rebate for early settlement?
I guess the bank can implement lock in period once this policy is in place. Banks are not stupid laugh.gif
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i dont know lol. the earlier we settle, the higher the rebate. i use calculator like this car-and-personal-loan-settlement-calculator to check.

yeah, banks may introduce a penalty fee for early settlements if they cannot increase the interest rate.. or whatever tricks they can use.
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