As far as i know, a term loan repayment is fixed for every month provided the BLR does not change and therefore the repayment period is fixed.
If your monthly instalment is $485, then that is not a 30 years loan anymore and all the previous comparisons are meaningless.

Oh my gawd.
Have you been following what we are saying all these while?
There is no more discussion on 30 years term loan already.

Now is 319 months flexi and 331 months term.

Flexi loan you need to pay 319mth of installmeant
Term loan you need to pay 331mth of installment.
Different = 331-319 = 12mth
12mth x 485 = RM5820 who help you to pay this

As your calculation, should it be RM3761.81 (you save for the interest)- RM5820(you pay extra for the loan) = -RM2058.19 ???

It is you who got it all wrong . Bro SonyBravia already said in his last post (#117) that the loan can already be fully settled on instalment no.298. If he continues to pay $475 for another 21 months until month no.319, he would have RM10k debit balance in the flexi loan account which he can withdraw. The 10k is hard cold cash that he can take home. Your term loan account will only be settled fully on month no. 331 and that's it. Do you have the extra 10K to take out from the loan account at that time? The answer is NO!
Should i repeat the work OH MY GAWD for you ?

This post has been edited by sochaiapk: Jun 27 2009, 05:43 PM

I think you make a mistake too, he only use the interest earn from FD to minus the total interest paid to the loan.
So the RM10k is still in the hand
But still, he make another mistake as i show in post#123

I think you better read again carefully.


Term loan payment total for 331 months: $160,622.78

Flexi loan payment total for 319 months: $151,434.00

Their difference is $9188.78. That is the extra in term of interest payment between the 2 plan.
The 12 month extra was already included in the calculation.

Yah i admitted i made a mistake. As for your post 123, his calculation had actually included the instalment until month 331 so there is no need to folk out another $5,820

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Added on June 27, 2009, 6:27 pmBro Jasonhanjk, sorry for being offensive in my previous post. I guessed it was due to your avatar which look very intimidating to me. Hehe.
Anyway i think the difference between the total interest saved between the 2 type of loanloan is minimum considering the period we are talking is almost 30 years.
Also has to bear in mind that between instalment 299 to 331 (32 months) the Flexi Loan applicant can actually use his monthly instalment to place in FD as well to earn 2.5% interest which i think could be add up to a few hundred bucks.
The Flexi Loan applicant can also use his loan account as his salary account which can save him interest as well when the money is not used. Flexi loan is calculated on daily rest interest and every single cent you put inside will save you interest even for one day. We cannot place 1cent into FD for 1 day to earn interest do we? So i guess that is the major benefit of choosing a flexi loan.

This post has been edited by sochaiapk: Jun 27 2009, 06:27 PM

Frankly, my arvartar is meant to intimidate people.

I also talk in a very unpleasant tone, making others want to fight back.
No, I am not going to apologize to anyone except for my mistake in my numbers.
In this argument, everyone manage to learn from everyone.


Back to topic, at 298 month, there is still $10k owe to the bank.
So if pulling out that money from flexi account, it will incur additional interest on that $10k.
I doubt I want to calculate to daily interest, everyone have different spending habit.
Making harder to anticipate which is better.

This post has been edited by jasonhanjk: Jun 27 2009, 06:42 PM

Flexi loan account will become zero after instalment no.298 if the intialial 10k is still inside. What i mean is from that point onwards (i.e. 299 till 331) no need to put 475 into loan account anymore every month and the 475 can put into FD to earn 2.5%.

Do you really jump up if your HP bill is RM 30 more than last month ? Even the more minutes you spent on phones might not be that necessary ?

Would you be thinking to switch back to fixed line so at least you do not have to incur more like the RM 10 extra ?

Basically I do not, bocs one phone call in could mean business, more than enough to compensate for the rm 30 extra for one whole year.

Likewise the opportunity If I dump 50k extra into flex loan is still be there.
When opportunity knocks on the door, and it is recyclable.

This post has been edited by SKY 1809: Jun 27 2009, 07:05 PM

By slowly allocating $475 for 21 months, monthly into an FD.
That would create about $948.85 interests after another 12 months.

This post has been edited by jasonhanjk: Jun 27 2009, 07:03 PM

the non zero can also get finance non zero cost. same blr -2.4% 5 year lock in and 3% penalty.
Use for those who dont have sufficient cash in their hand.
but all this is base on promotion, there is no guarantee.
since their board rate is -1.8%.

This post has been edited by yssee85: Jul 7 2009, 03:42 PM

i have bad experience with Citibank flexi loan, where there is no Citibank in Sarawak. But only 1 sales office here.
and been contracted so long, still cant move away from it.
If you online banking been blocked . You will got problem to transfer money. withdraw money. 1 word. u cannot get out single cents from your exceed account. if you are in urgent. you will face serous problem.
The only way citibank can do is to reset your pin. and you got to wait for 5 working days.. waiting for the pin number to send over to you with ordinary mail only. (even if you request for courier service and pay by yourself, you still can only get ordinary mail service).

the reason i been blocked. could be i have wrong password. but i'm quite sure i wont be wrong. anyway, i always get msg of info not recognised, wrong info and user session expired. and finally get a message that your pin been blocked need to call helpline. which happen quite often. so, use the service carefully.

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Added on August 18, 2009, 12:39 pmi really hate the citibank service nowadays. the service is getting worst and worst from time to time. so judge yourself.

This post has been edited by truth_seeker_09: Aug 18 2009, 12:39 PM

one of the important point to consider when choosing which flexi bank to apply, is to get the bank that is more convenience for you to access. If not, giving you better rate also give you less benefit. So it's better to get bank that is near to your house or office, if not you hardly enjoy the feature. As the more money you "in and out" in your flexi, the more interest you can save.

another thing is this bank is really poor in Phone banking service. if you really use it. you will understand on it.
Even if you are in KL area. i think it will not be a good idea to deal with this bank. Been dealing with this bank few times. they are not customer oriented bank. esp nowadays, they only do thing "win" by themselves only. compare with other banks. This is a "money face" bank. Really sick of it. still got years to be suffer with this bank.
this is the forth days i asked them to send me pin. until just now. i just got a phone call say they will do pin for me. really sick on it. and send with ordinary mail. i think the flexi loan offered only flexi for Citibank only. not to customer. customer is the last option. Dont be cheated by this bank name/brand/popularity.
hope this is not so called criticism. Just i am really mad on this bank. Just stay away from this bank if you can.

Too bad for you, well i have experience with my own pin before also. But mine is good experience.
The story is i forget the pin and insert the wrong pin for 3 times. Then i have no choice and call them to reset it. Well, after i called them and do some verification, i get back the pin in less then 30min.
I have me flexi loan with HSBC, so far their service and support is very good for me. Although now HSBC rates is less attractive compare to others, but in term of service, i can say they are one of the best.
But one of the problem is HSBC have lesser branch.

Interesting topics....

1) flexi loan is good if bank doesn't charge any maintenance fees monthly.....
2) flexi loan is risky compare to fixed loan as there is BLR...try get those with highest BLR - XX%
3) flexi loan is good for people with more cash that needs flexibility
4) flexi loan is good in saving interest rather than earning interest from FD (e.g. Now (BLR - 1.8%) > 2.5% FD)
5) flexi loan is good because allows flexibility in pre-payment (choose those bank with $0.00 charges)

With the features of pre-payment, you will shorten loan period and save interest $$$!

Which bank offers that added 'overdraft' option on top of the full flexi loan?