MOHAMAD CONSULTING SERVICES

Daily rest- Normally it is used for overdraft facility and it always look like this BLR + 0.5%.

If the base lending rate (BLR) is 6.5%, therefore the total rate is 6.5% + 0.5% =7%.

For example, your outstanding amount in the overdraft is RM10,000, the cost of borrowing is RM10,000 X no of days/365 X 7%.

Happy learning and enjoy lower cost of borrowing.

Dear all,

Somebody has raised a question what is the implication of terminating an ASB loan after paying for already 3 years and the loan is for 10 years. The reason for terminating is unable to service the loan due to high commitment currently.