Asked by Anonymous
HDB loan is 2.6% per annum.
When I checked using mortgage calculator, 50% of the monthly instalment goes to paying interest. And only 50% goes to paying principal. It does not look like 2.6% interest. Why is this so ?
When I checked using mortgage calculator, 50% of the monthly instalment goes to paying interest. And only 50% goes to paying principal. It does not look like 2.6% interest. Why is this so ?
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