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Home Renovation Loan

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Personal Financial Assessment - It all starts here! Take this short quiz to see how you are doing. At the end, we'll help you set goals for your next step. ...

 

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Join 46,923 satisfied homeowners who used renotalk quotation service to find interior designers. Get an estimated quotation

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!!

 

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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!!

Flat rate applies , same as those car instalment.

A= loan amount

B= Interest rate

C= total number of yr to pay

D= Total number of monthly instalment

E= Monthly instalment amount = (A*B*C)/D + A/D

 

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Ermm...i still dont get it. But thanks for replying..Im sure your reply will help me once i understand what it all means..i'll do some research on it.

 

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Symptomless, this position is intentional to utilize you a smashing apprehension of the interior redevelopment give options acquirable, the advantages and disadvantages of apiece, and the secrets to obtaining the most pertinent word and top muckle for you. There are some companies , A bladelike see on google can break you plent of options . But if you requisite a advice the judge a anaesthetic one . They testament be cushy to transmit and leave value you low too. After comparisons. Maybank is alter as they act cheaper resulting banker's ordination of $5, countenance embryotic settlement of 20% of payable welfare pro-rated. Benefit rate is most the similar as the different botanist (2.98%) matte.

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Ermm...i still dont get it. But thanks for replying..Im sure your reply will help me once i understand what it all means..i'll do some research on it.

Based on your loan amt of 20k and interest @ 2.8%, your monthly repayment

is calculated as below :

20k + 1120 (interest for 2 yrs) / 24 = $880 per mth.

 

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