Finances

New year always come with some new changes. In 2015, we have this thing called " Base Rate " (BR) which will replace the previous Base Lending Rate (BLR) we commonly used for years. What does it mean? What are the differences? How much is the rate actually? The new system of pricing... With the new base rate, banks are allowed to price their loans products more efficiently based on their ability. How is the computation method being used for base rate? Read our previous explanation here ... The New Rate for different banks... * Indicative Effective Lending Rate refers to the indicative annual effective lending rate for a standard 30-year housing loan/home financing product with financing amount of RM350k and has no lock-in period. * Data sourced from Bank Negara Malaysia on 2nd Jan 2015. The LOWEST Rate is Maybank? Yes. Maybank set it's base rate to 3.20% , the lowest among all the banks currently. And, guess what? This was already explained and predicted by Finance Malays

Using a credit card doesn’t have to be difficult, but there are a few guidelines to follow in order to successfully manage your financial accounts, then you’ll be ready to go !!! Be prompt First of all, pay your balance on time. This is probably the most important factor in determining whether your credit score improves or not. If you don’t pay your bill on time, your APR may be raised, and there will likely be a fee. A great way to remember to pay your bills on time is to set up a reminder on your calendar. Google Calendar is a great option that alerts you via phone or email when something is due. Watch the watchers Keep an eye on your credit report in order to avoid errors and to keep track of whether your score is going up or down. All requests for credit reports eventually go through the central bank, Bank Negara Malaysia (BNM), which is why it makes sense to just cut out the middle man and go to their site .  Your credit report is free of charge—you’re merely required to provide n