Hi Mr. Tan
I am a regular visitor to your blog.I have a private housing loan with a bank. I can make a partial or full payment after 3 years. I am considering the following options at the end of 3 years:
(a) Do a partial payment and continue to pay the same monthly payment from CPF OA
(b) Do a full payment using cash and CPF OA
(c) Do a full payment from CPF OA
What is your advice?
What is the interest rate on your loan at the end of 3 years, based on their current board rate?
What is the balance of your loan at the end of 3 years?
What is the amount of monthly repayment?
What is the rate of return on your cash savings?
You need these figures to calculate the options that work best for you.
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