On 27th, BNM announced a lower interest scheme for credit card balance. Instead of a flat 18% p.a. for all, now those with good payment history can lower their rate to 15% p.a., which is 16.7 percentage point reduction. “The objectives are to promote credit card as a payment instrument and to promote prudent financial [...]
A reader wanted to know how the MBF balance transfer calculation was done, and for those who interested on the calculation detail too, here you go:
Interest. At 18% p.a, the monthly interest of RM7,000 is RM105 (1.5% per month x RM7,000). Total interest at the end of the 39 months is RM4,095 (RM105 x 39). [...]
What is the similarity between hypermarkets and banks? They compete fiercely! And that means a better bargain for consumers.
Al Rajhi Personal Financing-i from the same bank is a good example and for those looking for a personal loan, it is worth to take a look. What make this loan attractive is it low back-end cost [...]