hi guys. fresh grad on first paycheck here, confused about a couple of things regarding asb loans:

1. why do people tend to maximize the loan tenure? when i use calculator, despite having a higher monthly commitment, shorter tenure loans in the long run leads to lower total payment. is there something i am missing?

2. i read earlier in this thread that people cancel their loan every 3 years and reapply? this one completely confuses me. won't it be better to fully pay off your loan? how is this viable?

3. now that asb is closed for the year, is it better for me to wait until it reopens for me to apply for the loan? or will i only have to start paying for the loan once asb is opened again?

thanks in advance guys

This post has been edited by tradefameplz: Dec 26 2017, 06:40 PM