Dear Alfredfx,

You are getting a conventional loan or flexi loan? You should be aware of this kind of LO for conventional as less terms being specified within the LO will let the banks to have their room in manipulating the prepayment in the future. Call the officer and ask them about these questions for your conventional packages:

(i) What is the expressed instruction must be given out (& "how" as well) for "partial prepayment" to be carried out?
(ii) What is the minimum amount for prepayment? And, what is the max amount for prepayment?
(iii) What kind of prepayment can account to re-drawable prepayment?
(iv) When must the written notice be given out to bank avoid any penalty?
(v) Any charges? How many time can I withdraw per month?

If you get a flexi loan, then you should not worry about these questions as you just need to deposit your money into the Current Account, then interest deduction will be carried out.
Regards,

Chris, Looi
Lead Mortgage Consultant
Virtual Mortgage Consultancy
Home Save, Mortgage Division
6 012 6058817

Apply loan with Home Save and Save more.