QUOTE(smcg @ Jul 5 2008, 12:16 AM)
thank's for sharing.. may i ask u something.. according to your calculation, how many months u think u can settle the loan??
my sister-in-law also using citibank flexi loan. but the monthly statement he pass 2 me and the inquiry from citibank is totally different (outstanding amount).. that's y making me so confusing n doubt the bank charging... i'm actually looking someone who loan 100k n dump in 100k to clarify the problem.. since u r doing that way, can u do me a favor?? get the inquiry from citibank beside referring the monthly statement to prove our flexi loan calculation is correct..
Actually the number of months till you settle the loan totally flexible. If you look at the statement, the calculation will be:
Outstanding amount - monthly principal deduction = New oustanding amount
Number of months will be outstanding amount/monthly principal deduction
But its not so relevant as you can settle anytime if you wish.
Attached is my flexi june statement which I hope makes things clearer for those who are opting for flexiloan.
Btw. The 0.12 interest i got charged this month is because I used the current account to make an instant online payment for my credit card and then topped up the current account with a check deposit to avoid credit card late fee (lost track of time last month heh). So that was like a 1-2 day gap where by current account balance droped below the loan amount. Else its usually 0.00 instead for interest.
This post has been edited by GeekinE90: Jul 5 2008, 08:20 PM Attached thumbnail(s)