Hi all http://rhb.com.sg/personal/loans/reno_loan.html I need abit of help here... I saw RHB is offering 2.8%, but it also mentioned Effective Interest Rate at various numbers for different year. What is "Effective Interest Rate" means? How do i calculate my interest rate if i were to loan 20K for 2 years? do i calculate based on 2.8% or 7.27% for 1st year & 6.55% for second year. Thanks!!