Some of Malaysian Paypal user may have received an email from Paypal regarding changes on Paypal policy. Among the changes are, Malaysian Ringgit is now one of the holding currencies in Paypal. However it is only restricted to Malaysian user. Paypal finally manage to obtain Bank Negara Malaysia approval to allow Malaysian Ringgit as one of holding currencies in Paypal. Together with Malaysian Ringgit, Paypal also includes Philipino Peso, Taiwanese Dollar, Thai Baht, Argentinean Peso and Brazilian Reals as holding currencies.
One of the most exited changes for Malaysian Paypal user is, now they are allow to withdraw Paypal fund to their local bank account (Malaysian Bank). This is the most wanted Paypal features by Malaysian. Not just Malaysian will enjoy local bank account withdrawal, user from Vietnam, Argentina and Brazil are now eligible too.
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Maybank recently launch a new Maybankard MasterCard Platinum Debit. It is the bank’s first debit card that sets a higher daily spending of up to RM10,000. The current limit for existing ATM & Debit Card is RM5,000.
Maybankard MasterCard Platinum Debit is targeted to entrepreneurs and professionals. The card offered to the bank’s premiere account both conventional or islamic account. The card has no annual fee and also doubles as an automated teller machine card.
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A higher dividend may be expected from the Employees Provident Fund (EPF) this year as it recovers the bulk of its investments overseas after a 14% year-to-date improvement in the Dow Jones Industrial Average, which closed above 10,000 points on Wednesday.
With the Dow Jones recovering to the 9,000-plus level since July, EPF equity investments in the overseas markets are now above costs.
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CIMB recently launched a new product called CIMB Prime plan. This product is targeting to a segment of customers who are at the stage of accumulating wealth. It is Ideal for graduates, young professionals, managers and business owners with household monthly incomes of between RM7,000 and RM8,000.
CIMB Prime Plan is offering a comprehensive package of banking products and lifestyle benefits including interest bearing saving account and credit card. With Prime Savings Account, customers can earn up to an additional interest rate of 1 per cent a year for a minimum deposit of RM200 a month. Customers also will be given standby overdraft facility and a home financing option that allows customers to re-price their housing loan every five years and enjoy preferential rates.
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Why it’s not always cost efficient to use personal loan to clear credit card debt
The subject matter has become a common scenario among credit card debtors. Taking a personal loan to settle credit card sales method has also been adopted by banks in pushing their personal loan product. But is that wise? Key question – is the total sum paid to settle the personal loan actually less than the sum which would otherwise be paid to settle the credit card debts?
For that, a few factors need to considered. Firstly, the tenor; while credit cards have an indefinite tenor with a minimum of 5% of outstanding balance to be paid, a personal loan offers a range of between 1-7 years for repayment. This sounds better. Secondly, and more importantly, what is the actual annual interest rate of the personal loan (which differs from the nominal fixed rate quoted for personal loan) as compared to the annual interest rate of the credit card, which is about 18%?
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