QUOTE(yewkhuay @ Nov 17 2007, 01:02 AM)
Not sure wat u mean by
no more no less, u can actually pay more as advanced payment to reduce interest charged on ur loan amount , and can also transfer the advanced payment to off set ur loan principal thru writting in.
if ur loan package is BLR-1.85% for the whole tenure, then the variable here is BLR fluctuation only. some other loan package might be BLR+0.15% , u might consider tht as "bank interest" but it's a loan package based on property projects, so not quite right to say it is bank interest.
sorry if that confused you. wat i meant by that is that if the package they showed me says its 1k permonth it means i just need to pay 1k permonth and it is up to me to pay that amount or more if i have the extra.
QUOTE(kenji1903 @ Nov 17 2007, 01:24 AM)
TS, my advice to you is to listen to 2 groups of people:
1. bank loan officers
2. someone who currently has a housing loan
loan installments = interest + principal
pay more (with standing instructions), you can reduce your principal...
pay less, you will get late charge fees...
bank won't make mistakes... trust me...
thanks for the advice. i'm getting conflicting views from my friends who have housing loan. one told me that i just need to pay the amount calculated by the bank and another one told me that the amount calculated was wrong. not by little bit but by quite a huge margin. his example was that blr 6.75% and + another 3.5% for bank interest. in the end he calculated up to 1.7k permonth.a difference of rm600 compared to the calculation given by the bank which is 6.75% blr-1.85% equivalent to 1k++ per month!
QUOTE(cuebiz @ Nov 17 2007, 12:54 PM)
Only fixed rate package will enable you to pay monthly installment that will never change. ING, AIA and Islamic bank provides this type of loan
a few banks have also given me fixed rates packages. i think it is now quite common among all the banks.
Nov 17 2007, 12:38 AM, updated 19y ago
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