The previous post on Skim Amanah Rakyat 1Malaysia (SARA 1Malaysia) was getting a lot of interest and many readers are asking for more details information, especially on how to subscribe. Where can you get an investment fund with a government guarantee of 32% annual return?
Kindly take note that, the scheme is only eligible to one member per household. Eligible household refers to individuals with gross household monthly income of between RM500 and RM3,000 including the following categories,
- Married – a combination of gross income of the husband and wife
- Single mothers or fathers – individual gross income.
Below are updates regarding the scheme.
As highlighted in 2012 Budgets, households with a monthly income in between RM500 to RM3,000 will be eligible to participate in Skim Amanah Rakyat 1Malaysia (SARA 1Malaysia). The scheme will be opened starting 30th January 2012.
The scheme is a hybrid of a unit trust investment and loan product, capable of generating consistent cash flow or monthly incentives.
Under SARA 1Malaysia scheme, the eligible participant may invest up to RM5,000 into the scheme for the period of five years by using their own money or taking a loan from either Maybank, CIMB, RHB Bank or Bank Simpanan Nasional. The loan repayment period is five years.
On Friday 15th October 2010, Prime Minister, Datuk Seri Najib Tun Razak tabled a RM212-billion budget for 2011 centred on four key strategies designed to transform Malaysia into a developed and high-income nation by 2020 with sustainable development, spearheaded by the private sector as well as focus on the well-being of the people.
The following are Budget 2011 highlights for Personal Finance and Investment.
CIMB Islamic, Islamic banking arm of CIMB Group recently launched a new Islamic Structure Fund called Best of Asian Giants Access NID-i. This fund is to addresses the need of investor for a combination of safe, regular income and the potential arising from the expansion of China and India.
Best of Asian Giants Access NID-i has an unique aspect called “best performer feature”. It will automatically selects the best possible access to China and India’s economic growth, provide unlimited variable annual returns. CIMB claim this feature as good as investing with Hindsight.
The minimum investment amount is RM65,000 and in further multiplies of RM5,000, thereafter. It opened for subscription for a limited offer period that ends on Feb 3.
Employees Provident Fund (EPF) allows qualified members to make their own investment using a portion of their EPF savings for potentially higher returns. However, bear in mind that the risks for such investments are higher. Members are to bear these risks and EPF is not going to compensate if members suffer losses from the investment made.
Before you make any decision in investing your EPF money, please remember that EPF is oblige to give 2.5% return per annum. Make a comparison on the fund choosen past performance against EPF dividend prior to investing. View “Historical EPF Dividend Rates” for comparison purpose.
If you already made up you mind to invest then you have to follow the following guidelines,