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Day: November 14, 2022

inflation
ABCs of Personal Finance

Interest rate will go up further in Jan 2023

Maybank IB says that it’s possible for Bank Negara Malaysia (BNM) to increase the rate by another 25 basis points. It’s 0.25%. If we are thinking of buying a home or even paying for a mortgage currently, what’s the impact of this potential 0.25% rate increase? For a RM500,000 home and a 10% deposit, a change in 0.25% rate would mean a change of monthly repayment by roughly RM61.

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