Does anyone have a calculator to use for calculating the homesmart interest charges (must include flexi in/out cash calculations)? I've been trying a few online/my own calculations but can't seem to get the same amount as in my statements.
Thx

Guys/Gals, just sharing what I found, some of you already know this, so you can skip this post .

I was trying to find out how they calculated the monthly interest for Homesmart. So I went to HSBC to get the calculations and found an Overdraft Excel calculator that gives the same results. You can download the calculator here:

http://www.bebas-hutang.com/overdraft-od-calculator/

The Monthly interest is calculated base on the account balance(OD) at the previous months interest deduction date. So putting the extra money a day before they deduct the interest has the most effect on the next months interest amount( e.g. based on loan amount of 300k, an extra 3k in the account saves u ~150 in next months interest charge). Putting money in/out between these dates doesnt make much difference.

Sorry if my explanation sounds confusing. lemme know if you are not sure how to use that excel calculator.