What is effective rate of HDB loan interest?

[garlic]

As above, what is the effective interest rate of a HDB loan for 30 years. (At current rate of interest)?

 

[Cestbon]

Remain same rate not like bank follow market rate.
1st timer still 2.6%.

 

[garlic]

yeah.. would like to know after compounding it for 30 years? the EFFECTIVE interest rate...

 

[Papsmearer]

yeah.. would like to know after compounding it for 30 years? the EFFECTIVE interest rate...

I am not sure what u are asking, also, u never state the parameters of your question. For example, are u compounding semi annually or not? What interest rate are u stating? If you use 2.6% interest, and simple compounding, over 30 years, you would have paid the equivalent of 44.122% of the original loan balance in interest. Is that your question?

 

[garlic]

I am not sure what u are asking, also, u never state the parameters of your question. For example, are u compounding semi annually or not? What interest rate are u stating? If you use 2.6% interest, and simple compounding, over 30 years, you would have paid the equivalent of 44.122% of the original loan balance in interest. Is that your question?

yep, bro.. that is what i wanted.. thanks.. 44.122% wow..