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.

Get 30% off with our ads free Premium Plan!

Monthly Plan

RM13.90/month
RM9.73 only

Billed as RM9.73 for the 1st month then RM13.90 thereafters.

Annual Plan

RM12.33/month
RM8.63/month

Billed as RM103.60 for the 1st year then RM148 thereafters.

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Opinion , letters

   

Next In Letters

Strategies to ensure sustainability of PTPTN
Plan to tackle overloading welcomed
Factors to be noted for next education blueprint
Eyes and ears on construction industry
Meeting the needs of modern workplaces
Critical points to consider in issue of overloading
A critical perspective on UN’s AI Governance Plan: Hidden risks in the push for global regulation
Address concerns about Seed Bill
Improve the lot of preschool teachers
Moral duty of all PTPTN borrowers to repay their loans

Others Also Read