Archive for the ‘Personal Finance’ Category
Saturday, May 12th, 2012
The new responsible lending guidelines implemented by Bank Negara Malaysia in January this year have seriously affected the used car business. Now, leading is based on nett income, as opposed to gross income previously. This is a step by Bank Negara Malaysia to avoid excessive accumulation of household debt, particularly ...
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Thursday, March 15th, 2012
Apparently, almost 50% of applicants of the My First Home Scheme received rejection on their application because they did not meet the stipulated criteria. From a total of 1062 applications, only 36.6% were approved by banking institutions, while 47.5% were disqualified. The rest of the applications are still being processed ...
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Thursday, March 15th, 2012
Did you notice that beginning 1st March, credit card interest rate for most banks have increased by up to 1.5%, making the new range between 15% and 18%? If you settle your credit card balances fully, then you get to enjoy the lower rate. Otherwise, you will have to pay ...
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Wednesday, February 22nd, 2012
Bank Negara Malaysia has issued a new series of coins, which are smaller than the old batch. This has caused inconvenience to users, particularly when they slot these new coins into vending machines, like parking machines.
These machines have to be recalibrated but not all machines have been taken care of ...
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Sunday, February 19th, 2012
At least three banks in Malaysia have confirmed that they are raising interest rates on credit card balances (credit card debt) effective 1st march, 20122. They are Hong Leong Bank, Citibank and AmBank. Bank Negara Malaysia says this is not a directive from the Central Bank but the banks' own ...
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Tuesday, December 13th, 2011
According to the Director-General of Insolvency Department Datuk Abdul Karim, a total of 235,908 individuals have declared bankrupt as of Oct, 2011. The main causes of bankruptcy were hire-purchase agreements at 26%, personal loans at 21% and housing loans at 14%.
With an average of 41 people declared bankrupt per ...
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Sunday, October 30th, 2011
I just found out that my cousin is in deep debt after he asked me for a loan. I have actually loaned him some money previously and it has been two years and he hasn't returned the money to me yet. This time, I am smarter. I am not going ...
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