Paying off a mortgage is a significant milestone for many homeowners, and the opportunity to make a lump sum payment towards your mortgage can be both exciting and daunting. Whether you have come into an inheritance, received a bonus, or saved diligently, deciding whether to put a large sum of money towards your mortgage is …
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 …
GXBank is Malaysia’s first digital bank to receive the approval from Bank Negara Malaysia and the Ministry of Finance to commence operations. This digital bank is a joint venture between Grab Holdings Limited and Singapore Telecommunications Ltd (Singtel) – and a consortium of other Malaysian investors, including Kuok Group. Account opening This is a fully …
I have opened my Rize account for four months now. In this article, I am going to share my Rize experience so far. On time interest I have been receiving the interest at the end of the month as promised. The interest rate is also as advertised. It is currently 5% per annum for deposit …
In this Versa Cash update 2023, I will share my rate of return on Versa. The return is calculated using value as on 1 July 2023. My return My return is 3.43% per annum, based on internal rate of return formula. This is lower than the promotional rate of 4.00% per annum. My return was …
Rize has announced that it will extend its deposit campaign till 31 December 2023. With this campaign extension, we would have more months to earn high interest. High interest rate In this deposit campaign, the first RM 5,000 is eligible to a profit rate of 5% p.a. The subsequent amount will get a profit rate …
