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Coffee Shop Talk of a non sexual Nature Visit Sam's Alfresco Heaven. Singapore's best Alfresco Coffee Experience! If you're up to your ears with all this Sex Talk and would like to take a break from it all to discuss other interesting aspects of life in Singapore,  pop over and join in the fun.

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Old 20-05-2014, 12:40 AM
Sammyboy RSS Feed Sammyboy RSS Feed is offline
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Thumbs up Calculation of loan interest

An honorable member of the Coffee Shop Has Just Posted the Following:

Was talking to a friend earlier on and we talk about interest rate. According to him, he mentioned that he has received an update from the bank stating that the interest rate of his housing loan has been changed from 0.705% to 0.72% per annum on a monthly rest basis.

Question is what does it mean by per annum on a monthly rest basis. And what is the actual interest he is paying.

Told him not financially savvy to answer him.
Forummer here can enlighten?


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