Higher rate cut on cards

My home loan gets adjusted after the 1st when it does the D/O from my cheque account. I am hoping to see it drop to just under 6k per month. A few months back it was close to 9k per month and since then I actually took some money of the bond - so this is good news :D
 
Your interest rate is calculated daily, so you will only benefit for the days when the rates were lowered. You should see a full month's benefit in the next debit period.
 
larrychang said:
Your interest rate is calculated daily, so you will only benefit for the days when the rates were lowered. You should see a full month's benefit in the next debit period.
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Oh. Now I get it. Thanks.

So I will only benefit for 29,30,31 (3 days) this month?
 
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