Debt consolidation Plan

Status
Not open for further replies.
L

Louis81

Member
Joined
Mar 1, 2017
Messages
432
Reaction score
0
melbourne10 said:
I notice that BOC uses AIR not EIR. What's the difference between Applied and Effective (is there even a difference?)
Click to expand...

I alwayd use flat rate. 4.5-5 is consider good deal.
So if i take a loan of 100K then interest per year will be 5% of 100K which is 5K.
If u take loan for 5 years then interest 25K.
Total loan w interest is 125K.
Monthly will be 125K divide by 60months.
 
L

Louis81

Member
Joined
Mar 1, 2017
Messages
432
Reaction score
0
brokeaf said:
decided to try boc for the dcp...just submitted my docs via email.

hoping for the best!
Click to expand...

All the best. 3 days later they shld contact if any missing doc. 5 days later. Chk w BoA. Normally the sales person will be slower than processing dept. I did my chk on my own bank acct then saw early repayment so dcp is approved.
 
M

melbourne10

Senior Member
Joined
May 12, 2010
Messages
975
Reaction score
1
Tonight... I will go home... And cut up all my cards...
And sleep well... For the first time in weeks, months...
Citi just called... My heart is peaceful now...
Thanks bros for the support over the last few weeks :)
 
B

brokeaf

Junior Member
Joined
Mar 22, 2017
Messages
36
Reaction score
0
Louis81 said:
All the best. 3 days later they shld contact if any missing doc. 5 days later. Chk w BoA. Normally the sales person will be slower than processing dept. I did my chk on my own bank acct then saw early repayment so dcp is approved.
Click to expand...


thanks for the advice bro, and congrats on your approval :s12:

previously tried citi's dcp, but was notified 2 days ago that it was unsuccessful. the cso said she'd resubmit for review, but i asked her to put it on hold first, since the EIR for 7-year tenure is around 10.7% pa, while BOC EIR for 7-year is 9.93% pa based on the application form. prepared the docs for citi like siao though, hopefully the BOC one should be a smoother process...
 
B

brokeaf

Junior Member
Joined
Mar 22, 2017
Messages
36
Reaction score
0
melbourne10 said:
Tonight... I will go home... And cut up all my cards...
And sleep well... For the first time in weeks, months...
Citi just called... My heart is peaceful now...
Thanks bros for the support over the last few weeks :)
Click to expand...

congrats yo! the whole process is so tedious :s22:
 
S

Sysedit

Senior Member
Joined
Feb 5, 2002
Messages
1,509
Reaction score
2
Hey all the bro here,
i new to this threat....need to check the following
coz i need to apply this tooo.
need help or any advice will be great


i read on the Eligibility
Annual Income: between S$30,000 and S$120,000
Balance-to-Income (BTI) of at least 12x monthly income


So, my loan die die need to be 12x?

eg: my total Loan: is 10k
and my income is : $1500.. so mean i cannot apply?
or need to go CCS on this DMP (what is DMP, can share some light bo)
 
Matrix21

Matrix21

Senior Member
Joined
Mar 3, 2005
Messages
2,286
Reaction score
49
Sysedit said:
Hey all the bro here,
i new to this threat....need to check the following
coz i need to apply this tooo.
need help or any advice will be great


i read on the Eligibility
Annual Income: between S$30,000 and S$120,000
Balance-to-Income (BTI) of at least 12x monthly income


So, my loan die die need to be 12x?

eg: my total Loan: is 10k
and my income is : $1500.. so mean i cannot apply?
or need to go CCS on this DMP (what is DMP, can share some light bo)
Click to expand...

base on the bros here, yes die die need to be 12x.
For your situation i would suggest applying Personal Loan from Banks like what i did
 
Status
Not open for further replies.
Important Forum Advisory Note
This forum is moderated by volunteer moderators who will react only to members' feedback on posts. Moderators are not employees or representatives of HWZ Forums. Forum members and moderators are responsible for their own posts. Please refer to our Community Guidelines and Standards and Terms and Conditions for more information.
Top