Hdb Loan

[toolbox03 0]

How do you calculate HDB loan?

Say you loan 300k for 30 years at HDB interest of 2.6%. Do I use the compund interest calculator to calculate? The interest is annually? Is there any penalty for early redeem?

[aves 0]

use this to calculate ur monthly payment.

http://www.hdb.gov.sg/bb29/ispm015p.nsf/instalenq?openform

no penalty for early redeem be it partial or full. but got minimum sum for each 'extra' payment you make. so u cant happy happy say u wanna pay 1 more dollar. think its like 500 or something. cant remember.

[toolbox03 0]

use this to calculate ur monthly payment.

http://www.hdb.gov.sg/bb29/ispm015p.nsf/instalenq?openform

no penalty for early redeem be it partial or full. but got minimum sum for each 'extra' payment you make. so u cant happy happy say u wanna pay 1 more dollar. think its like 500 or something. cant remember.

That means for partial redeem, minimum you need to fork out is 500 and above?

Say you pay 10k for partial redeem every year, is the interest is calculated on the remaining principal amount? Will your monthly instalment still be the same or reduced?

[applefreak 1]

That means for partial redeem, minimum you need to fork out is 500 and above?

Say you pay 10k for partial redeem every year, is the interest is calculated on the remaining principal amount? Will your monthly instalment still be the same or reduced?

yes the interest is calculated on the remaining principal

you can either opt to have your monthly installment reduced

or to have a shorter repayment term with the same monthly installment

[toolbox03 0]

yes the interest is calculated on the remaining principal

you can either opt to have your monthly installment reduced

or to have a shorter repayment term with the same monthly installment

So the interest is calculated every year on remaining principal and not compound interest over 30 years?

The minimum for partial redeem is at least $500?