Home Loan in Malaysia
In a typical Malaysian home loan, you make monthly payments for an agreed
period (i.e. the loan tenure) until you've fully repaid both the principal
of the loan and the interest. During the early years of the home loan, the
majority of your monthly repayments are used to repay interest on the loan,
however, as time passes, a larger proportion of your repayments will go into
paying down the loan principle.
Because your home loan interest is calculated based on what you owe on your
home loan each month, by paying a little bit extra each month, the interest
on your loan in subsequent months will be lower.
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