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Interest Free Loan

Thanks IreneL, I am not asking to take a loan to buy shares la.  I am asking so that I don't need to pay for my housing loan fm the bank ma

 

Hi cashiertan

Take my posts on UTs as pure "kaypohing".  And for your information, I have no interests at all in gossip forums.  Spams from such dimits puts me off immediately and off they go into the trash bin.  To me, life is too short to be involve in such gossips. 

Hi tanglinboy

Many thanks for your support. I started investing in funds in 2004, a year and a half before I decide I want to quit my job as funds are professionally managed.  I knew the Asia Pacific region is an happening region and so I place some funds in DBS Shenton Asia Pacific Fund (regretted though that at the downturn earlier this year I failed to put in more). Its been 2-1/2 years and I am quite comfortable with the yield.  The other area I thought would do okay is Malaysia so I put in some money after Mahtatir left the political scene.

All in, I would say my earnings in the 4 funds over this period is about 30%. 

As regards stocks, because of their speculative nature, I am more cautious (as I have lost thousands over stupid purchases) now.  However I would describe myself as impatient.  Last few years back, I bought into ST Eng, Ezra, SembMarine, Keppel Corp but sold them at little profits! It was sheer stupidity as well!

I cant really say I make more money from funds because they are for the long haul.  I would however concede that right now my losses over stocks is higher.

 

No... actually I find IreneL posts very informative.

I have not invested in funds before... mostly stocks and FD at this point in time.

Irene, comparing between funds and stocks... which one now makes you more money?

 

irenel,

almost everyone who visit this forums will knows that lah. u should teach those in other gossip forums like flowepod and sggals. not here

what i and some of us here is suggesting are solutions for the ultra desperate ppl.

thanks for ur concern anyway

 

Just a bit of info on buying Unit Trusts.

Not every UT has the potential to rise.  Read up the factsheet of each UT. Find out the fund size,  how much each distributor charges upfront as Sales charge and what is the annual management fee.  Depending on which bank/distributor, the annual fee can range from 2% to 5%.  My suggestion is to go online, to the various fund managers, such Aberdeen Asset Management, Schroders, Franklin Templeton, etc.

Ordinarily, a fund has to be held for at least 2 years before one see any yields.

By the way, most banks in Singapore are distrbutors, besides Fundsupermart, Dollardex, etc. 

 

oh yes anothe rone is USE ur cpf to buy UTs from Insurance agent, ask for rebate for half or more of his/her comm. Insurance co charges 3% - 5% Sales charge plus extra 1-2% service charge annually.

 

Further to what rickytan has mentioned, your credit limit will be reduced by the amount of loan (purchase) every month. E.g. Your credit limit is $3000. You purchase an item on instalment plan using your credit card. The item cost $3000. Your montly bill is, say, three hundred. Your monthly Credit limit will be $300 (credit limit less amount owed - $3000-$2700) instead of $3000. Your credit limit will subsequently be increased monthly after you have paid you monthly bills.

 

Just for your info, when you buy from Courts etc, although it is so called interest free, in actual fact it is not.  There are conditions attached. eg  you are not allowed to terminate your credit card with the bank, otherwise there will be an administrative fee charged !  After you are on the instalment plan, they dont even allow you to pay all the balance instalments in full.  I guess the bank hope that you dont pay up the instalment, so that you end up paying the exorbitant high interest charges ? 

 

many great things in life are free, only becos someone paid a dear price for it. (eg. clean water, air, etc) there's no such thing as a free lunch. i personally dont advocate getting a loan to invest in stocks & shares, the pressure on u, will be too much for u to enjoy this $ game. Invest only w your spare cash. Got $ buy OCBC, less $ buy singtel, even less $ buy sinomem :)

 

Hi leeloke

I sincerely hope you are not thinking of getting a loan (interest free or not) just to induly share-trading. Its not worth the risk.

Havent you read news reports of people going broke and ending up being sued/bankrupted by creditors, with not paying up their credit card bills and ODs?

 

serious..... the processing fee is real? 

 

oh yes Islamic banking loan. But u need to have ur kuku head cut off abit.

interest free but - processing fee..

exmple: loan amt 100k, give u 90k but u must return 100k.

 

somemore.. .CreditCard + O/D (if pay back within 20 days)

 

Plus Best Denki, Carrefour. Use your credit card for 0% interest instalment. hope this helps.

 

Another 2 more: Courts and Ikea.

 

agree with cashiertan, although some banks give interest free but there is actually a processing fee of 2% of the loan amount so actually its not free.

 

oh yes... ur parents, gf, wife, bro n sister, friends

 

in ur dreams.

 

Hi all

Just wondering if any of you know of any places that gives interest free loans?