given the recent changes where banks have to reduce loan installments, how do i NOT reduce the monthly payments? is there a form or a template letter that i have to fill up and send? i'm afraid that any inaction on my part will cause the "reduced installment" rate to kick in.

i also read that it's better to bite the bullet and maintain payments since the other way round means more of the installment will go to off-set the interest instead of the principal. can anyone verify this?

i appreciate any comments/views on this.

Call your bank

Check with your bank and the terms of your loan.

IE if your payments directly reduce the principal, then follow as is. However depending on the bank, you may want to continue paying your normal payment anyway.

Yup, u should call ur bank to clarify your loan package, like my loan package will be deduct from the principal if i pay extra than my
monthly installment.