ချေးငွေ တွက်ချက်စက်

Payments use amortization: payment = principal × monthly rate ÷ (1 − (1 + monthly rate)^−months), where the monthly rate is the annual rate divided by 12.

Yes. Paying extra toward the principal lowers the outstanding balance, reducing total interest over the loan and shortening the payoff time.

Reducing balance charges interest on the decreasing outstanding principal each period, resulting in less total interest. Flat rate charges interest on the full original amount for the entire term, so the effective rate is much higher than quoted.

A shorter term means higher monthly payments but less total interest. A longer term lowers monthly payments but costs more overall. Aim for payments below 30–40% of monthly income.

Common fees include a processing fee (0.5–3%), appraisal fee, stamp duty, and insurance. Some banks waive the processing fee during promotions.