30 Apr '13, 12pm

Creating An Amortisation Schedule for Housing Loans With Different Rests

Creating An Amortisation Schedule for Housing Loans With Different Rests

The more frequently the loan is calculated the lower the interest payments will be, all else being equal. This is because each time repayment is made, the outstanding loan amount is reduced and so will the interest chargeable if the loan is re-calculated. To illustrate, if a loan on an annual-rest basis is repaid monthly the interest for the entire year will still remain the same as the financier uses the outstanding loan at the beginning of the year for interest computation.

Full article: http://thefinance.sg/2013/04/30/creating-an-amortisation-...

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