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Maybank vs Public Bank Savings Account Interest Rate

Do you know how much interest will you get if you keep your money in your bank savings account nowadays? Someone has asked me which bank savings account work best, MayBank or Public Bank? I told him that basically, all savings accounts are the same. The main purpose is for us to save money only. Without consuming lot of time, I told him that he should open a savings account at a bank, which is convenient for him to do transaction or finding the one that is near to his home. This is because there is slight difference in interest rates.

Here are some of the savings account interest rates obtained from the banks’ latest updated information:

maybank_savings_interest

pb_savings_interest

So, from this comparison, you will found that Maybank Basic Savings Account offers better interest which is 0.25% for balance <= RM10,000.

March 10th, 2010 | 1 Comment

High Income Earner Financial Management

financial_management

Last time, my ex-employer manager told me that his friend can earn RM20k salary per month. But, do you feel that he can save lot money from his income? Based on his situation, after deducting tax and EPF, he gets only RM12k++ per month, and he mention that his living cost is quite high as he owns a Honda Accord and a RM600k home in KL. He likes to play golf as well and all in all expenses about RM11k per month. Thus, he manages to save only less than RM1k per month for a rainy day. Do you think he is good in financial management?

In my opinion, if the job that a person is doing now is for his/her passion, then it’s fine. With RM 20k income per month, monthly EPF should be around RM 4,600 (RM2,200 + RM2,400) and around RM 55,200 per year. After retired, the EPF amount probably will be around RM 1 million. Probably that is the reason he/she saves only RM 1k per month.

March 3rd, 2010 | 2 Comments

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.

car_payment_calculator

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

February 22nd, 2010 | 2 Comments

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

pay_car_installment

Step 2: Click “Request PAC” button.

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Step 3: Key in your PAC now.

February 16th, 2010 | 3 Comments

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.

WeddingAngPow

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.

February 13th, 2010 | 1 Comment

How To Register Malaysia Income Tax Online?

As everybody known, Malaysia had introduces the use of income tax e-filing since many years ago. But, there are still a lot of Malaysian do not know how to make use of it. Today, I will teach you step by step on how to do your online register income tax so that you can save a lot of time and trouble.

Steps On How To Do Register Malaysia Income Tax Online

Step 1: Get your PIN number through email. The PIN number is a 16 digit number. Please make sure that you have all the information together so that you no need to do double job:

i) Tax Reference Number
ii) Latest Home Address
iii) Copy of Identification Card (front and back)
iv) Phone Number

Send your application to pin@hasil.gov.my

Step 2: While waiting for your request PIN Number to be processed, you can try log on to http://ekl.hasil.gov.my to register your income tax.

Step 3: Next, click on “Daftar Pembayar Cukai Individu”.

register_income_tax

February 7th, 2010 | 3 Comments

Beware of Malaysia Phone Call Scam !!!

As most Malaysian knows, our newspaper will be flooded by a lot of interesting news each period of time. Nowadays, i can see that more and more SMS Scam cases capturing the highlights of our local newspaper. Recently, I have received a phone call asking if I can do a phone survey, and they would like to know more about the consumer’s buying pattern. I have given them a chance and answered several questions and at the end of the call, the operator gave me a number. He invited me to attend their shop and said that i can have chance to win the “lucky draw” prizes.

phone_call_scam

I did not go for the event but i received a phone call that tells me i have won the lucky draw which is the cash prizes of RM100k and the event organizer request my bank account number in order for them to transfer money to me. I did not quite believe with him and i refused to give him my bank account number. Instead of that, I told them to write a cheque for me but he gave excuses that they are unable to send me the cheque but they have opened a temporary account in Hong Kong’s Bank where they have placed the money there and also gave me the account number & password to access that the account. Then, i started to call the bank and the automated voice machine said that i have HK$200k deposited. However, i still cannot fully trust them and request them for more proof and they gave me a website where they sell products.

February 1st, 2010 | 3 Comments