243) Housing Loan Moratorium Calculator
You must had heard or read about the 6 months Moratorium on Loans by the Malaysia Government on 26 Mar 2020.
There had been few discussions on impact on the Housing Loans. If the bank still charge interest on delayed payments, the borrower will end up paying more and longer to complete the loan.
There are few banks that had reported NOT to charge interest on the delayed payments. However, other banks have yet to report their decisions.
The best scenario is to pay the loan repayments if you have the cash flow.
Do take advantage of the Moratorium if you can invest and get a higher return than your loan interest rate.
Or use the money to pay off the higher interest loans like Credit Card or Personal Loan.
There are 3 tables for the 3 types:
1) Normal loan
2) Moratorium 6 months with Non-Compound Interest (No Interest on interest)
3) Moratorium 6 months with Compound Interest (Interest on interest)
There are 3 tables for the 3 types:
1) Normal loan
2) Moratorium 6 months with Non-Compound Interest (No Interest on interest)
3) Moratorium 6 months with Compound Interest (Interest on interest)
You can use this Excel file directly from here. Try to check and simulate different:
a) Loan Amount,
b) Interest Rate
c) Tenure
d) Payments
Double click on the Green Cells to change the parameter values.
Click on the bottom right most icon below to view the full size Excel Workbook.
You can also download the Microsoft Excel file by clicking he first icon on the bottom right.
b) Interest Rate
c) Tenure
d) Payments
Double click on the Green Cells to change the parameter values.
Click on the bottom right most icon below to view the full size Excel Workbook.
You can also download the Microsoft Excel file by clicking he first icon on the bottom right.
It is recommended that you use a computer or notebook to download and edit. If you download using your mobile, most probably you cannot edit. Reason is because mobile apps are mostly only for VIEWING the file. Not to edit.
Do check that your Mobile Excel app can do the editing so that you can edit the numbers for your own loan.
You can unprotect the Excel file and edit the cells. You can change different interest rates and payments to calculate the changes to the loan repayment tenure.
To unprotect the sheet and edit the cells, the password is HLR.
More articles at:
Money Market Fund vs Bond Fund
http://highlevelrules.blogspot.com/2017/07/money-market-fund-vs-bond-fund.html
Money Market Fund vs Fixed Deposit.
http://highlevelrules.blogspot.com/2017/06/money-market-fund-vs-fixed-deposit.html
Do check that your Mobile Excel app can do the editing so that you can edit the numbers for your own loan.
You can unprotect the Excel file and edit the cells. You can change different interest rates and payments to calculate the changes to the loan repayment tenure.
To unprotect the sheet and edit the cells, the password is HLR.
More articles at:
Money Market Fund vs Bond Fund
http://highlevelrules.blogspot.com/2017/07/money-market-fund-vs-bond-fund.html
Money Market Fund vs Fixed Deposit.
http://highlevelrules.blogspot.com/2017/06/money-market-fund-vs-fixed-deposit.html
Let'say I have a remaining balance of 445k, 402 months to go, and the effective rate is 4.05%. I just have to fill in the information on the table?
ReplyDeleteYes fill in the appropriate cells. You need to fill up your monthly payments as well.
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