Picture this: Your credit card statement arrives. You open it, and that familiar knot of anxiety tightens in your stomach. The “Minimum Payment” seems manageable, but the “Total Outstanding Balance” feels like a mountain you can’t climb. You’re not alone. With living costs on the rise, many Malaysians find themselves relying on credit cards, only …
Buy Now, Pay Later (BNPL) is a short-term financing option that allows consumers to purchase goods or services immediately and pay for them in installments, often interest-free (if repaid on time). It has gained popularity as an alternative to credit cards, especially among younger consumers and those without access to traditional credit. How BNPL Works …
Owning a home is often considered a significant milestone and a lifelong dream for many Malaysians. However, the journey to homeownership involves more than just saving for a down payment or securing a housing loan. The true cost of homeownership in Malaysia extends far beyond the property’s price tag, encompassing a range of hidden and …
Credit cards have become an essential part of modern financial life, offering convenience, rewards, and flexibility. Most Malaysians have access to credit cards nowadays. As long as you have an income, you most probably qualify for a credit card. Credit cards are widely used for everyday transactions, large purchases, and even for building a credit …
Purchasing a home is one of the most significant investments you will ever make, and securing a home loan is a crucial step in this journey. A home loan, also known as a housing loan, is a financial product offered by banks and other financial institutions that allows you to borrow money to buy a …
In Malaysia, most people own at least a car due to the inconvenience and uneven accessibility of our public transport system. When we buy a car, car loan is involved. This car loan is also known as hire purchase. Key considerations before taking a car loan 1. Loan amount and interest rates Car loans in …
Once in awhile, I received offers from banks to lend me personal loans. The rates sometimes can be attractive (almost the same rate as fixed deposit interest rate) and sometimes can be exorbitant. In this article, we shall discuss about this type of loan. Pros of personal loans 1. No collateral required Most personal loans …
When you take a loan, you know the interest rate being charged. It is informed to you upfront before you sign the contract. But is it the real interest rate that you will be paying for the loan? Two types of interest rate 1. Nominal interest rate Nominal interest rate is the rate that you …
