1. What is Maybank Flexi Home Loan?

The Maybank Flexi Home Loan is a flexible financing solution that allows borrowers to enjoy lower interest costs through features like daily interest calculation and principal prepayment options.

2. How Does the Calculator Work?

The calculator uses the standard EMI formula:

Where:

• \( P \) — Principal loan amount (MYR)
• \( R \) — Monthly interest rate (annual rate / 12, as decimal)
• \( N \) — Loan tenure in months

Explanation: The formula calculates the fixed monthly payment required to repay a loan over the specified tenure, including both principal and interest components.

3. Understanding EMI Calculation

Details: EMI (Equated Monthly Installment) consists of both principal repayment and interest charges. In the early years of a loan, a larger portion goes toward interest.

4. Using the Calculator

Tips: Enter the loan amount in MYR, annual interest rate (e.g., 3.5 for 3.5%), and loan tenure in months. All values must be positive numbers.

5. Frequently Asked Questions (FAQ)

Q1: What is the advantage of Maybank Flexi Home Loan?
A: It offers flexibility in prepayments and daily interest calculation which can reduce total interest paid.

Q2: How does loan tenure affect EMI?
A: Longer tenures reduce EMI but increase total interest paid. Shorter tenures increase EMI but reduce total interest.

Q3: Is the interest rate fixed or variable?
A: Maybank offers both fixed and variable rate options. This calculator assumes the rate remains constant.

Q4: Are there other charges besides interest?
A: There may be processing fees, insurance, or other charges not included in this calculation.

Q5: Can I prepay my loan?
A: Maybank Flexi loans typically allow prepayment which can reduce your interest burden.