My opinion,

Weekly payment to UOB with same amount of installment per month.
Example, installment per month = RM1000 ,so weekly will be RM250

Auto payment mean u need to put extra money earlier in account,then let it auto debit to loan account. Will the extra money reduce interest?

Or,
If you didn't put extra money earlier, you go and pay excact amount weekly to account in UOB, Why cant you pay weekly also to CIMB flexi loan?
I'm sure both account will cut of the tenure in same time (if both same interest rate)

As mortgage loan interest calculated daily rest, both will have the same interest reduced if you pay weekly to both bank.
Flexi loan even let u to pay daily also,it can even save more then weekly payment,but i think no ppl will like to go bank for payment everyday.

sry but i cant open that file,may i know that spreadsheet is what format?
not unzip,is the spreadsheet file.

I think you still not understand how the flexi function.

Yes UOB will auto deduct from your acc weekly.
But is that mean you need to put extra money earlier? So that you no need to drive to the bank every week.

So my question, will that extra money reduce your interest?
i'm not sure for UOB, but if CIMB is flexi, then CIMB 100% will save interest with the extra money.


Why you need to go CIMB to bank in money every week? Flexi loan mean you can bank in anytime.
If you can pay extra to UOB, why not pay to CIMB also?
You no need to bank in weekly to UOB because u pay EXTRA money in account first,then only let UOB to debit it weekly, am i right?

So, My Reason Why Flexi is better,

UOB ,weekly payment

I Simplified the calculation for easier understanding,
RM100k loan, RM1000 monthly installment, RM250 weekly installment
You put 1 month (RM1000) installment,let UOB debit every week

1st week RM100,000 - RM250 = RM 99750 x interest = RM X1 (RM750 extra in bank)
2rd week RM99750 - RM250 = RM 99500 x interest = RM X2 (RM500 extra in bank)
3rd week RM99500 - RM250 = RM 99250 x interest = RM X3 (RM250 extra in bank)
4th week RM99250 - RM250 = RM 99000 x interest = RM X4 (RM0 extra in bank)
Total interest = RM X1 + X2 + X3 + X4


CIMB Flexi Loan, You put 1month (Rm1000) installlment too

1st week RM100,000 - RM1000 = RM 99000 x interest = RM X4 (RM1000 extra in bank)
2rd week RM100,000 - RM1000 = RM 99000 x interest = RM X4 (RM1000 extra in bank)
3rd week RM100,000 - RM1000 = RM 99000 x interest = RM X4 (RM1000 extra in bank)
4th week RM100,000 - RM1000 = RM 99000 x interest = RM X4 (RM0 extra in bank,because of monthly payment)
Total interest = RM X4 + X4 + X4 + X4

With extra RM1000 cash liquidity for emergency use for 3 weeks,
Plus interest reduce more then weekly payment,
Which is better?
Which will save more?

Can anyone tell me is UOB also flexi in this case for the weekly payment? cox i'm not sure about UOB
If UOB is also Flexi,then it's different story and calculation.

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Added on September 26, 2008, 4:03 pmi cant open it,it said file corrupt.
Can double check it or anyone else opened it?
Maybe is my software problem

This post has been edited by onnying88: Sep 26 2008, 04:03 PM

But refer to clieman case that UOB with weekly payment, is that flexi loan?
If it's flexi loan,what's the point for weekly payment?
Any UOB bankers here can clarify it?


Currently i think the best rate is from Standard Charted Bank.
They offer up to BLR -2.8 Whole tenure for flexi loan.
Any bank offer better then this?

This post has been edited by onnying88: Sep 26 2008, 11:38 PM

Ya, i'm serious. I have the same response as u when i know it.
Of cause it's non-zero package, 8years lock in
Althought with such term and condition, i feel that it's fair enough and very attractive rate.

imagine current BLR -2.8 = 3.95%
FD rate from 3% - 4%
Bank earn 3.95% and pay FD interest as 3%+
I also wonder how the bank gonna survive and earn.

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Added on September 27, 2008, 1:11 amThis is what i get from your spreadsheet


Monthly Payment vs Weekly Payment
4.75% Rate
30 Tenure
1 No of payment per month
300,000.00 Principal
($1,564.94) monthly

no of payment ---- yrs ---- dif in month ---- dif in year
360 ---------------- 30 ----------------------------------------------- monthly
356.9 ------------- 29.7------- 3.1 ------------------ 0.3 --------- monthly at beginning of month
1320.3 ------------ 25.4------- 55.3 ---------------- 4.6 ---------- weekly
660.4 ------------- 25.4 ------- 55.2 ----------------- 4.6 -------- fortnight


Monthly Payment vs Weekly Payment
4.75% Rate
30 Tenure
1 No of payment per month
$298,435.06 Principal
($1,564.94) monthly

no of payment ---- yrs ------ dif in month ------ dif in year
352.8 -------------- 29.4 ------ 7.2 ------------------ 0.6 ------------ monthly at beginning of month + on month extra


It's just show the different of payment method by monthly and weekly and the time saved
So it's normal term loan with weekly payment or flexi loan?

If i'm not wrong,i assume your's is normal term loan with weekly payment
YES, i have no doubt it will save tenure and interest,i even show the simple calculation on previous post.
But the shorten tenure is compare with normal term loan with monthly payment.

If compare again weekly payment with Flexi loan,
Flexi loan will even shorten more, as shown on the previous post too.

This post has been edited by onnying88: Sep 27 2008, 01:34 AM

Of cause it will have some T&C,but still it's fair enough if you want to get such rate.

The BLR-3.0 is flexi loan?
HLB have flexi and normal term loan.
As i know,HLB normal term loan rate is good,but HLB flexi rate is not good.
Hard to get even BLR-2% for flexi.

This post has been edited by onnying88: Sep 27 2008, 11:43 AM

Bank's offer will be different from time to time. Today Bank A can be the lowest in market, tmr can be Bank's B.

It's all about timing and your luck.