This would be the 3rd-4th year for my 40k ASB loan :
- I've been paying around RM 250 every month since I made that loan.
- I just checked the balance for my loan last Dec 2015, which is : RM 38,900
- That means for all those months + years I've been paying, I only managed to pay almost 3% - RM 1,100 only from my total debt. The remaining goes to pay the interest, which is around RM 170 per month.
- I've been playing this game wrong.
The trick is to pay ridiculously higher than they ask for every month, the faster you pay off the loan, the better. Or you'll just be another one of the victim. Even if you never miss paying for it every single month or spend the yearly dividend. Sneaky sneaky.
On lighter note :
I managed to pay 26% from my education loan.
Few more years to go.