Do Not Fall Flat on Personal Loan’s Flat Rate (Part II)
In Part 1, Jason took a RM10,000 personal loan for 36 months at 8.5% flat rate per year. He thought the rate is a good bargain as he is paying 0.71% per month. However, unbeknown to him, his actual monthly interest rate is 1.28% and the annual rate is 15.4%, much higher than what was […]