Malaysia’s Financial Blogger | Financial Freedom Ideas | imDavidLee.Com

Withdraw PayPal Funds To Malaysia Bank Account

I usually leave my PayPal funds until I need a little bit of extra cash then only cash out, it is not good to practice like that. Now, as a Malaysian, we are not just only can withdraw the Paypal fund into credit card/debit card but also can withdraw into local bank account directly.

Those Internet savvy now can withdraw their PayPal fund to Malaysia Bank Accounts through bank swift code. Based on the information that I’ve obtained from Paypal official site, I only know that the transaction will take up to 2-3 days, and a fee of RM3 will be charged if your withdrawal is below RM400. If your withdrawal is above RM 400, you will be waived from the fees.

Below is a step-by-step guide on how to withdraw funds to your Malaysia bank account:

Step 1: Login your PayPal account.
Step 2: Click “My Account” then “Withdraw”.
Step 3: Then, click “Withdraw to your bank account” link under the options.

Step 4: Next, enter the amount in USD you want to withdraw and select your bank account. If you still not yet add the bank account, then proceed to step 5 else go to step 7.
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CIMB Bank Fixed Deposit Campaign

2 days ago, my friend Thian Thian come to visit me and from the conversation, i only know that she is working in CIMB bank now and provides me the latest information about the CIMB newly launched product - “Go for Gold” which is a nationwide deposit campaign. I never heard about this campaign before but I am eager to get more details from her, she said that you would stand a chance to win the prizes if you make deposit with CIMB Bank.

She also explained to me that with every incremental deposit of RM1,000 during the campaign period, you will entitled to get 1 entry for the contest.

As an fixed deposit account holder, they will enjoy added bonus during this campaign period, customers will get the interest of 2.45% per year on their 8 months fixed deposit placement. For me, the idea is very simple which encourage more people to deposit in bank; the more they put into fixed deposit the higher chances of winning.

CIMB “Go For Gold” Campaign

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How To Calculate Monthly Car Payment?

If you are planning to buy a car and want to get a good deal you should do some homework, you need to learn how to calculate car payment ahead of time. You can calculate your monthly car payments or estimate the total cost of your car purchase by following the car payment formula.

For example, you borrowed RM40,000 for your new Honda City for 5 years, with an interest rate of 2.9%. Then, you are expected to pay RM763.33 monthly for the next 5 years (60 months).

Steps On How To Calculate Your Monthly Payments

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Good Financial Habits Equals To Good Credit Score

Nowadays, having a healthy credit score is absolutely essential for everyday life. If you have a bad credit history then you need to have credit repair before applying loan to purchase a car or a house so that you won’t end up with paying a higher rate of interest.

Remember that if you want to fix credit quickly, you need to realize that there is no easy and quick solution. You should be organized and disciplined enough so that able to clear off your debts by restricting your spending habits and paying your bills on time. Or you can try my way, pay extra instead of paying just the minimum amount on the loan.

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Malaysia Car Price Reasonable or Not?

For those who bought foreign car like Nissan Sentra, Toyota Vios, Honda City, Toyota Altis, Honda Civic etc, they would pay higher car prices due to our high import duties on foreign cars. Besides that, they would also pay for higher petrol price sooner (Start from 1st May 2010). Do you think this is ridiculous?

Another situation: Let say the car price increased due to the raw materials cost increased, or it costs more to ship the parts to Malaysia for assembling but it still maintains the car price, means there will have lower quality control. Do you feel satisfy with that? I feel that most of the car company will make use of this tactic, just end user do not know!

Buying cars is probably the heaviest expense for middle class people over the long term. Most families will buy a house only once but a car may be changed every 8-10 years. This will end up buying at least 2 cars.

Unfortunately, our government has become addicted to impose high taxes on foreign cars and so lifting protection for Proton. Sadly, I don’t see any political can try to start this process to bring our car prices down to world market level. Malaysians will continue to pay unreasonably prices for cars in the future.

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How To Pay Monthly Car Installment Using Online Banking?

Most of the people won’t have the capability to make car payment using cash and it always pay by monthly installment. Many usually have to pay a down payment on it. For me, i will choose to pay less monthly, so i will put at least 50% down payment.

Pay Monthly Car Installment Using Public Bank

Since I’ve had my bad experience with Maybank, so i won’t use it for my online banking. Currently, my most favor online banking is Public Bank as i found a lot convenient and lower charges than Maybank. For your information, I pay my monthly car installment using Pbebank since it’s more hassle free and save me some travel expenses as i no need to travel to any Public bank branch to make payment.

Step By Step: How To Make Car Installment Using PbeBank?

Step 1: Go to Payment/Recharge -> Loan/Financing Payment -> To Open 3rd Party Accounts

Step 2: Click “Request PAC” button.

Step 3: Key in your PAC now.

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Wedding Ang Pow Market Rate

According to traditional Chinese customs, ‘Ang Pow‘ is the symbol of prosperity and we give them during wedding as a wish to the couple. And of course to help them offset their wedding dinner costs as well.

Do you know what is the market rate for wedding Ang Pow today? My friend will be holding her wedding dinner at hotel somewhere in Penang. Although she is not the closest friend of mine but I still want to give her a reasonable amount.

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