Stop using the Rule of 78


BANKS should be stopped from taking unfair advantage of borrowers with personal loans or fixed rate hire-purchase loans (of either the conventional or Islamic financing).

These borrowers lose twice over because interest on the loans are calculated on a flat-rate basis and rebates are calculated based on the Rule of 78.

Limited time offer:
Just RM5 per month.

Monthly Plan

RM13.90/month
RM5/month

Billed as RM5/month for the 1st 6 months then RM13.90 thereafters.

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

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Opinion , letters

   

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