Saturday, April 4, 2009

High Interest Charges

I feel so sad when I received the housing loan statement. After twelve months of installments, the outstanding amount is still a huge figure. The amount of monthly interest is 70% of my monthly installment figure. It’s just like I am only making few hundreds to settle the principle loan amount and the rest all goes to interest payment. Compare to the outstanding balance from the beginning of the year with the end of the year that is only few hundreds different. What a disappointment!

I am going to apply for EPF withdrawn to settle my housing loan. Not a big amount in my account but at less something to cut down principle and save on the monthly interest charges.

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