How Much To Raise A Child In Malaysia? From Pregnancy To Childhood Education
- By CompareHero.my
- March 4, 2021
More Malaysians are feeling the heat from the rising costs of living and some of those who are planning to start a family may have put their plans on hold because they cannot afford to have a child. However, it is surprisingly pleasant to know that we can still access free and affordable maternity services provided by government-owned hospitals and clinics.
Despite so, parenting requires more than just planning for birth delivery but also includes education, living necessities and also supplementary things to help your child grow. According to AIA Bhd’s research, it takes about RM 440,000 to RM 1.1 mil to raise a child including delivery costs, schooling costs, and University fees.
To help you better plan your future child, we have listed down the costs incurred and comparison of pre-natal requirements, delivery costs, and baby goods up until their pre-school fees.
This may or may not necessarily be applicable to all parents or future parents in the country but we certainly hope it gives you a guideline to set down your financial goal.
Contents
How much are the costs throughout your pregnancy period?
| Klinik Kesihatan Ibu & Anak or KKIA (Government Own) | UltraSound Scan Malaysia | Private Clinics & Hospitals | Timeline | |
| Normal Pregnancy Check-Up | Free | N/A | RM 200 on average basis | Every Month |
| Early Pregnancy Scan | N/A | RM 60 | Subjective to Medical Institutions | 6 – 13 Weeks |
| Dating Scan | N/A | RM 60 | Subjective to Medical Institutions | 6 – 13 Weeks |
| Viability Scan | N/A | RM 60 | Subjective to Medical Institutions | 6 – 13 Weeks |
| Sexing/Gender Scan | N/A | RM 60 | Subjective to Medical Institutions | 16 – 42 Weeks |
| Anomaly Scan | N/A | RM 150 | Subjective to Medical Institutions | 18 – 24 Weeks |
| Fetal Wellbeing/Growth Scan | N/A | RM 100 | Subjective to Medical Institutions | 24 – 42 Weeks |
| Presentation Scan | N/A | RM 60 | Subjective to Medical Institutions | 36 – 42 Weeks |
| 3D/4D Scan | N/A | RM 120 | Subjective to Medical Institutions | 24 – 32 Weeks |
| Anti-tetanus Injection | Free | N/A | Subjective to Medical Institutions | Pre and Post-Natal |
During this period, you will have to start preparing funds for monthly check-ups and ultrasound scans. Though medical costs have gone up over the past few years especially after the introduction of GST, you can still gain access to cheap or free medical attention from local government clinics and hospitals.
For instance, Klinik Kesihatan Ibu & Anak which is owned and operated by the government allows mothers to get free medical checkups with anti-tetanus injection. However, if you intend to save time from the long queue, you can still get a medical check-up from the specialist clinic or private hospital at about RM 200 per visit.
As for baby delivery costs, depending on your preference and situation (birth condition), you will need to prepare at least RM10,000 to RM15,000 in order to welcome your child with the help of the experts at any of these hospitals.
How much are post-birth delivery costs?
There are several things that come to mind that you will need to spend on when your child is born such as diapers, milk, baby products and vaccines. Thanks to scheduled vaccinations made compulsory by the Ministry of Health, your child can have their vaccination in line with their age for free.
| Age | Vaccination |
| Newborn |
|
| 1 month |
|
| 2 months |
|
| 3 months |
|
| 5 months |
|
| 6 months |
|
| 10 months |
|
| 12 months |
|
| 18 months |
|
| 4 years old |
|
| 7 years old |
|
| 13 years old |
|
| 15 years old |
|
How much are baby necessities?
However, you will need to prepare at least RM700 – RM2,000 a month (depending on your budget and preference) to prepare the necessities for your baby in the first few years including diapers, a crib, baby products and milk powder.
Here is the list of baby necessities you will need to prepare for:
| Product | Price Per Unit |
| Milk Powder | RM 80 per KG |
| Diapers | RM 40 per pack |
| Stroller | RM 180 to RM 200 |
| Baby Crib | RM 200 to RM 400 |
| Blanket | RM 20 |
| Crib Bedding Sheet | RM 60 to RM 80 |
| Baby Clothing (Boy) | RM 20 to RM 30 (per set) |
| Baby Clothing (Girl) | RM 20 to RM 40 (per piece) |
| Pacifier | RM 15 to RM 20 |
| Baby Bottle | RM 30 to RM 40 |
| Baby Shampoo | RM 20 to RM 25 |
| Baby Towel | RM 7 to RM 20 |
| Baby Powder | RM 10 to RM 20 |
| Car Seat Baby Carrier | RM 90 to RM 150 |
Pre-school and kindergarten fees
It is becoming more common for parents to start sending their kids to pre-school or day care at a younger age, starting from as young as two or three years old as it helps to relieve some burden from working parents. Compared with hiring a nanny or a babysitter which costs about RM 1,000 to RM 1,500 in Malaysia on average , many choose to send their children to the pre-school nursery which also allows their child to mingle with other kids and build social skills.
According to HSBC’s latest survey report: The Value of Education Higher and Higher, Malaysian parents spend an average of US$25,479 on their children’s education alone.
“Most parents (71%) started making plans for their child’s education, and 60% started making funding decisions before their child had begun primary education. Over half (54%) are putting a child through paid-for education, and almost two-thirds (63%) are paying for private tuition or have done so in the past. “- HSBC’s report.
For an average neighborhood pre-school nursery and kindergarten, it costs about RM 700- RM 1,000 a month for a full-day care service and RM 400 – RM 500 for half-day care service. Though this includes food, basic learning materials and toys at the nursery, parents will need to prepare an extra RM 100 – RM 200 for miscellaneous costs every month such as outdoor activities and extra learning events.
As for International schools, it can cost from RM 10,000 to RM 30,000 for nursery level per annum and the figures continue to rise for primary and secondary levels.
Though some may claim that international schools may provide a comprehensive learning curriculum for the children, parents must consider their financial capabilities and know that many of the local kindergartens in the neighbourhood offer learning platform and services that are just as good as the former.
Hence, it is still up to parents’ hard work to do their research and enrol their children into the best learning platforms in order to let them grow and learn in an environment that makes them happy and safe.
In the same report released by HSBC, the vast majority (87%) of parents are helping to fund their child’s current stage of education, with the highest proportions in Indonesia (98%), Egypt (96%) and Malaysia (96%), and the lowest proportions in the UK (71%), France (76%) and the USA (77%).
The cost of getting a degree in local universities ranges between RM8,000 to RM15,000 (excluding hostel fees and living costs), depending on the subject chosen. Prices for a similar degree can go as high as RM80,000 if you choose to study in private university or college.
So, are you looking forward to raising a child? If you are, remember to get a great cashback credit card or an outstanding reward credit card to save more money from your spending moving forward!
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5 Must-Have Home Appliances That Save Time And Money
- By CompareHero.my
Many of us have been spending more time at home since March 2020 – as we continue to work, learn and enjoy leisurely pursuits under various movement control orders. In the new norm, investing in certain home appliances can make your daily routine more efficient, and save you money in the long run.
We take a look at the best money-saving products out there, and see how they can make your life easier.
Contents
1. Microwave oven vs pan and stove
With a microwave oven, you can reheat meals and leftovers safely in minutes! Just place your dish on a microwaveable plate, bowl or container, pop it into the microwave, set your timer, and you’re done.
This saves time compared to cooking with a pan and stove – where you’ll have to wash dirty pans and additional plates. Unlike the microwave, you also can’t leave the food unattended as you need to ensure it isn’t burnt.
Using a microwave will not cause a spike in your electricity bill. According to the Tenaga Nasional Berhad (TNB) home energy calculator, if you use a 1,500-watt microwave for 30 minutes a day, that would amount to an estimated RM7.12 monthly.
On the other hand, if you prefer an electric stovetop, cooktop or hob, the TNB calculator estimates that you’ll have to pay RM11.87 per month if you use a 2,500-watt electric stovetop for 30 minutes daily. As for gas stove users, you’ll have to order cooking gas on a regular basis, and a 14kg cylinder will cost about RM26.60.
If you’re interested in buying a microwave oven, here are some of the best online deals right now:
| Appliance | Price (as of March 4) |
| Midea 20L Microwave Oven | RM186.00 |
| Sharp 20L Microwave Oven | RM229.00 |
| Toshiba Microwave Oven | RM230.00 |
According to the TNB home energy calculator, if you use a 1,500-watt microwave for 30 minutes a day, that would amount to an estimated RM7.12 monthly.
Related: Save Money By Making Your Own RM5 Meals
2. Multi cooker vs rice cooker
These days, a multi cooker can prepare more than just rice. Besides steaming the usual white and brown rice, there are many multi cooker recipes you can try – such as chicken briyani with saffron cream as well as mac & cheese.
These are just some of the dishes that you can make. In addition to steaming, most multi cookers also have different functions such as boil, hot pot, grill and fry. So you can savour a variety of easy-to-cook dishes without having to spend more on multiple appliances. There’s less need for you to fork out more money for an additional hot pot (about RM31.90), grill (around RM43.50) or deep fryer (about RM39.90).
So if your old rice cooker is no longer functioning, now’s a good time to get a modern multi cooker.
Estimated electricity consumption charge if you use an 800-watt multi cooker for 30 minutes daily: RM3.80 a month (based on TNB’s home energy calculator).
(Please take note that the TNB home energy calculator is only a guide for your estimated electricity consumption.)
| Appliance | Price (as of March 4) |
| Cornell Mini Multi Cooker | RM55.00 |
| Samu Giken 2 Layers Electric Non Sticky Multi Cooker, Food Steamer 4-in-1 | RM125.90 |
| Khind Multi Cooker | RM234.90 |
Related: You Can Save Money by Not Wasting Food, Here’s How
3. Cordless vacuum cleaner vs broom and dustpan
With your family members and housemates staying at home even more, there’s bound to be more dust and dirt on the floor. Affordable cordless vacuum cleaners can save you precious time compared to vacuum cleaners with retractable cords, or a broom and dustpan.
According to U.S. hotel Comfort Suites University, their staff were able to reduce vacuuming time per room from two minutes to one minute when they switched to cordless vacuum instead of the corded ones. They were cleaning 18 x 24 sq. ft. rooms with one or two king-size beds and a sofa bed. So imagine how fast it can be when you’re cleaning your home.
Instead of sweeping the floor and emptying your dustpan every five minutes, you can use a lightweight cordless vacuum that doesn’t make a lot of noise. There are also no lengthy cords to handle or retract. Additionally, a cordless vacuum is easy to maintain, as you only have to change its dust bag about once every two months.
So you can use the time you’ve saved up to focus on work and side jobs, and subsequently, increase your income.
Estimated electricity consumption if you charge a 700-watt cordless vacuum cleaner for four hours weekly (estimated battery charging time for 30 minutes of usage): RM3.55 a month (based on TNB’s home energy calculator).
| Appliance | Price (as of March 4) |
| PerySmith Cordless Vacuum Cleaner | RM199.00 |
| Deerma VC20 Plus Cordless Vacuum Cleaner | RM239.00 |
| Hiraki 2-in-1 Cordless Vacuum Cleaner | RM259.90 |
Related: 8 Side Jobs for Malaysians to Earn Extra Money During CMCO
According to U.S. hotel Comfort Suites University, their staff were able to reduce vacuuming time per room from two minutes to one minute when they switched to cordless vacuum instead of corded ones.
4. Air fryer vs deep frying (wok and stove)
Here’s a time and money-saving tech that enables you to enjoy fried foods with less fat and oil content. According to a recent Healthline article, you can use an air fryer to prepare timeless favourites such as fried chicken and french fries with little or no oil, thus reducing your calorie intake.
By using this device, you might save a lot on potential medical costs in the future as people who eat lots of fried foods tend to have a higher risk of contracting heart disease.
According to research think tank The Centre, treatments for heart disease such as an angiogram (X-ray of the blood vessels) or one stent angioplasty (a procedure to open narrowed/blocked blood vessels) in a public hospital would range between RM50 – RM200, whereas in a private hospital, it will range in between RM15,000 to RM45,000.
On the other hand, a coronary bypass (a procedure that restores blood flow to the heart muscle) in public hospitals would cost RM4000; comparatively in private hospitals it will range between RM25,000 to RM80,000.
As you can see, heart surgeries aren’t cheap. So it’s highly recommended that you take all the necessary precautions to prevent future health complications. Try using an air fryer and only indulge in fried foods moderately.
Estimated electricity consumption if you use a 1500-watt air fryer for 30 minutes daily: RM7.12 a month (based on TNB’s home energy calculator).
| Appliance | Price (as of March 4) |
| PerySmith 3L Mini Air Fryer X Bossman Kaden BK220 | RM139.00 |
| Russell Taylors Air Fryer XL (4.8L) AF-34 | RM249.99 |
| Haier 2.5L Digital Air Fryer | RM229.00 |
5. Blender vs mortar and pestle
You don’t have to dig deep into your wallet to prepare convenient, nutritious smoothies or seasonings that spice up your meals. For instance, you can make your own sambal paste without adding preservatives. Putting the ingredients in a blender to make a paste is more convenient than using a mortar and pestle.
Besides sambal and other seasonings, you can also prepare delicious, nutritious, time-saving smoothies with your blender. All you have to do is add fruits, vegetables, milk and other ingredients into the device, and then blend away.
Estimated electricity consumption charge if you use a 250-watt blender for 30 minutes daily: RM1.19 a month (based on TNB’s home energy calculator).
| Appliance | Price (as of March 4) |
| Pensonic Blender 250W with mill attachment | RM59.99 |
| Philips Daily Collection Blender | RM72.90 |
| KHIND Multi Blender Chopper Grinder Juicer with Safety Lock | RM142.99 |
Want to skip shopping? You can attain some of these appliances right away by signing up for a credit card. A Sharp microwave oven can be yours when you successfully apply and spend with a Standard Chartered credit card. If you prefer to air-fry your food, an A&S 4.0L air fryer is also up for grabs when you sign up and use an HSBC credit card.
In fact, we have many more goodies that you can enjoy when you get a credit card. Check out our latest credit card promotions here.
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10 Ways To Save Money On Car Insurance Premiums
- By CompareHero.my
- March 3, 2021
Car insurance premiums are usually one of the most expensive parts of car ownership. Insurance providers consider a number of factors when determining how much you will be charged for the annual policy, such as age, gender, type of vehicles, location and claim history. The more factors included, the more expensive you will have to insure your car.
However, by knowing the different factors that affect your auto insurance rates, you can avoid spending more than necessary on a policy. Here are 10 possible tips to lower your car insurance costs:
Contents
- 1. Carefully choose the type of coverage
- 2. Avoid modifications
- 3. Be a careful driver
- 4. Limit the mileage
- 5. Don’t overinsure or underinsure your car
- 6. Improve your credit score
- 7. Build up your No Claim Discount (NCD)
- 8. Only consider the add-ons you need
- 9. Drive a car that’s affordable to insure
- 10. Make a pre-purchase comparison online
1. Carefully choose the type of coverage
There are three main types of car insurance coverage offered by insurers, which are:
| Third party cover | The most basic car insurance policy. The insurer will not give you any protection for your car as it only covers you against losses, damages, or deaths caused to other parties. |
| Third party, fire, and theft cover | Everything above, plus coverage to your own vehicle in the event of accidental fire or when your car gets stolen. |
| Comprehensive cover | Everything above, including fire and theft, plus coverage to your own car if it gets damaged due to an accident. |
Before purchasing or renewing your insurance, you must consider conditions like the age of vehicle, driving habits and usual distance covered as these will help you decide the right type of coverage for your car.
Although it is always recommended to choose a comprehensive policy as it will provide the most coverage for your vehicle; a third party policy or third party, fire and theft policy might be suitable if you own an old car or a car that you rarely drive.
Related: 3 Main Types of Car Insurance Coverage (And What They Actually Cover)
2. Avoid modifications
It can be tempting to modify your car, but you have to be aware that any changes made to the vehicle can increase the price of your insurance. Insurance providers consider a car modified when you replace, add or remove a vehicle’s parts that are different to the manufacturer’s original specifications.
Any types of modifications to make your car look more attractive or perform better will not only increase its value, but also the risk of vehicle theft. Since the purpose of your insurance coverage is to cover that risk, you will be charged more on the premium.
Related: How Will Car Modifications Affect Your Car Insurance Policy?
3. Be a careful driver
This is obvious but is a helpful tip that may cut some costs on your insurance premium. You can keep the rates low by being more mindful on the road to decrease the possibility of getting into an accident and getting traffic tickets. Your claim and traffic records are also factors that can affect the cost of your insurance policy.
4. Limit the mileage
The more often you drive, the more likely you are to be involved in an accident. This is considered a risk that needs to be covered in your insurance policy. In other words, spending less time on the road will reduce the risk of getting into an accident. Therefore, the lower your annual mileage, the lower your premium is likely to cost.
5. Don’t overinsure or underinsure your car
When you insure your car based on the market value, there’s a possibility for you to underinsure and overinsure your car. Market value is how much your car is worth or priced at the dealerships before it was damaged or stolen.
The sum insured will be calculated based on the formula below:
Car market value: RM75,000
a) Overinsuring happens when you insure your car above the market value. The claim amount will be subject to the market value of the car at the time of damage or loss.
For example:
You agreed to a policy contract insuring your car above the market value at RM65,000. When you get into an accident and your vehicle accumulates damages that cost RM15,000, your insurer will only provide the amount claimable based on the repair bill.
There’s a RM1,000 excess after the payout is calculated and this additional amount will not be credited back to you.
b) Underinsuring happens when you insure your car below the market value.
You insure your car for half of the market value at RM37,500. If your car is involved in an accident that causes damage amounting to RM15,000, your insurer can only cover half of the cost as agreed in the policy which is RM7,500 sum payable.
The balance RM7,500 will be borne by the policyholder.
Insurance companies advise insuring your car based on the agreed value as it allows the policyholder to claim according to the value that has been specified in the policy.
Related: #WhatIWishIKnew – What Happens If You Don’t Pay Your Car Insurance Premium?
6. Improve your credit score
Establishing a good credit history can help lower your car insurance premium. Many insurers refer to your credit information when calculating the insurance rate. If you have a reputation of having a bad credit score or bad history on your previous insurance claims, then your premium is likely to be higher. It’s always a good idea to check your credit report on a regular basis, and make sure that you maintain a good score.
Related: 6 Ways To Improve Your Credit Score
7. Build up your No Claim Discount (NCD)
No Claim Discount (NCD) is an entitlement or reward for you if there’s no claim made on your car insurance policy within the one-year insured period. Building up your NCD will help you to get a cheaper policy because insurers typically reward policyholders who never file for any claim. Some insurance companies also offer special discounts for those who have clean driving records. If this is you, you may qualify for a lower car insurance premium.
8. Only consider the add-ons you need
Most drivers usually purchase the comprehensive cover as the policy gives the option to include additional coverage in your annual premium. Some of the add-ons include windscreen protection, riot and strikes, special perils, additional named driver and more.
Instead of adding them all, just choose the ones that will benefit you the most such as the windscreen coverage. If you live in an area that is not prone to natural disasters, you don’t have to consider getting the special perils coverage. It entirely depends on your circumstances, like where you live and how many people in your household drive the car. Just get the add-ons that are only practical to your needs.
Related: 5 Types Of Car Insurance Add-ons (& Whether Or Not They’re Worth Getting)
9. Drive a car that’s affordable to insure
If you’re planning to buy a new car, compare the car insurance rates for the models you’re considering. For an expensive car from a high-end model, your insurance premium will likely be higher. Luxury cars come with high-class features like carbon fibre, hydrophobic window, auto lane keeping and other specialised specifications will cost you a lot of money to repair in the event of loss or damage.
Related: #BreakingItDown – Don’t Make These 9 Mistakes When Buying A Car
10. Make a pre-purchase comparison online
Car insurance premiums differ from one insurer to another. Keep in mind that the lowest price is not always the best option. You will have to do a lot of research on every insurance provider and make a comparison on the prices as well as the coverage and benefits they offer.
Ask yourself if the insurance is worth the price, if it’s not, continue doing the research and ask around. Make sure the insurance company you choose is reputable and that you’re comfortable with the services included in their package.
Here at CompareHero.my, you can purchase or renew your car insurance online just at your fingertips. The best part is that you will get a free gift when you successfully make an application with us.
Click below to find out our latest car insurance promotions!
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Dividend And Profit Announced For Both EPF And Tabung Haji Amid Economic Gloom
- By CompareHero.my
- March 2, 2021
Despite rising unemployment, the economic slowdown, and the pandemic still in full force, contributors of the Employees Provident Fund (EPF) and Lembaga Tabung Haji (TH), the pilgrims fund board, can remain optimistic this year after both organisations recently announced their dividends and profit distributions for the year ending 2020.
The EPF has announced rates of 5.20% for conventional accounts and 4.9% for shariah, with a payout amounting to RM4.76 billion. Cumulatively, the total payout for 2020 amounts to RM47.64 billion.
TH, on the other hand, has announced a competitive profit distribution of 3.10% (after zakat) to all its nine million depositors, compared to the 3.05% rate in 2019. The 2020 profit distribution involves a total payout of RM2.24 billion as against RM2.14 billion in 2019, it said in a statement today.
Both organisations have announced rates that are higher than Amanah Saham Nasional Bhd’s 4.25% announced last year.
EPF navigates through a pandemic-stricken 2020
Despite twin health and economic crises, EPF has managed to record an average five-year real dividend of 4.62% for Simpanan Konvensional and 4.32% for Simpanan Shariah after adjusting for inflation— EPF exceeded its strategic target of declaring at least 2.00% real dividend on average for a rolling five-year basis.
Following lower net contributions during the year, the EPF’s ability to adapt to the current times ensured its investments were able to deliver long term sustainable returns under the new normal. The fund recorded its highest ever gross investment income of RM60.98 billion, with RM6.15 billion allocated to Simpanan Shariah.
EPF had rebalanced its investment portfolios based on thorough consideration of how the COVID-19 pandemic and global uncertainties such as the U.S. Presidential election in November 2020, the continuous US-China trade dispute, and the impact of the Brexit negotiations had influenced capital markets worldwide.
“We managed to safeguard our members’ retirement savings well while meeting their immediate needs to deal with the current challenges. It was not easy at times as we had to walk a tightrope in ensuring that our members survive the difficult times while balancing their future needs,” said EPF Chairman Tan Sri Ahmad Badri Mohd Zahir.
“The quick spread of COVID-19 and its transmissibility made it a Black Swan event that many found challenging to manage. However, we were proactive in managing the pandemic and that helped us to ride through the challenges. Our focus on digitalisation enabled us to assist our members more efficiently and seamlessly while ensuring that we remain relevant to more members who are technology-savvy.”
“The EPF’s speed of adaptability in its investment strategy and processes ensured that we were able to deliver optimum performance, and we further leveraged on the strength of our approximately 250-strong investment professionals who diligently managed the portfolios and took proactive measures. Solid teamwork and digital infrastructure ensured that we could adapt seamlessly to the new work norms,” Tan Sri Ahmad Badri added.
EPF dividend rates over the last 10 years
| Year | Per Annum (Simpanan Shariah) | Per Annum (Simpanan Konvensional) |
| 2020 | 4.90 | 5.20 |
| 2019 | 5.00 | 5.45 |
| 2018 | 5.90 | 6.15 |
| 2017 | 6.40 | 6.90 |
| 2016 | – | 5.70 |
| 2015 | – | 6.40 |
| 2014 | – | 6.75 |
| 2013 | – | 6.35 |
| 2012 | – | 6.15 |
| 2011 | – | 6.00 |
| 2010 | – | 5.80 |
EPF’s outlook for 2021
Commenting on the outlook for the year, Tan Sri Ahmad Badri said, “The vaccine rollout in 2021 will have important bearings on the outlook for the year, as we are also cognisant of new strains of COVID-19 that are easily transmitted. However, we believe that the situation is being well managed, with governments everywhere ensuring that the vaccines get to people as efficiently as possible while in Malaysia, the first batch of vaccines have arrived and will soon be administered to the population.”
“The EPF, being a 70-year-old institution and one of the oldest pension funds in the world, will remain focused on our mandate to help members have enough savings for a sustainable retirement. We will also embark on a new withdrawal scheme to allow members to purchase insurance or Takaful products that were announced in Budget 2021, slated for an end of year rollout.”
In the same statement, the EPF also announced that it is the first institutional investor to establish the largest Shariah-compliant Private Equity co-investments mandate in the world, with the launch of the US$600 million Shariah Private Equity Co-Investment Separate Managed Account. “This certainly bodes well for our Simpanan Shariah fund, in which members’ savings balance has crossed the RM100 billion mark and continues to grow sustainably,” said Tan Sri Ahmad Badri.
Related: How To Withdraw EPF Account Savings For Personal Use?
EPF’s investment assets hit the RM1 trillion mark on December 3, 2020
EFP’s strong performance was due to the prudent approach guided by the Fund’s overall Strategic Asset Allocation (SAA), which has kept the EPF resilient despite the unanticipated crisis. According to the EPF, their asset classes consist of Fixed Income instruments (46%), Equities (42%), Real Estate and Infrastructure (5%) as well as Money Market (7%) instruments.
As of December 2020, 33% of EPF’s investment assets across the board were outside of Malaysia. Equities, particularly foreign equities, continued to be the driver of returns with a total income of RM28.71 billion. The private equity portfolio also demonstrated strong performance with consistent income distribution.
Related: Your Child Will Thank You For This – 9 Financial Moves Every Parent Should Make
TH remains resilient—announcing a competitive profit distribution for 2020
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Established in 1963, the fund was launched to help Malaysian Muslims save their money for Hajj, the fifth pillar of Islam. As of February 26, 2021, the total deposits has reached RM76.7 billion—its highest ever level, reflecting the confidence of depositors.
YB Datuk Dr Zulkifli Mohamad Al Bakri, Minister in the Prime Minister’s Department (Religious Affairs) expressed his gratitude for TH’s financial performance which remained positive in the year 2020 despite uncertainties in the global and domestic economic environment since late 2019 due to the pandemic.
“Alhamdulillah, TH depositors will be able to enjoy better profits despite facing a relatively soft economy last year. As an institution entrusted to administer nearly RM77 billion in deposits of Malaysian Muslims, TH needs to act in the best interest of its depositors and invest the funds wisely to ensure the sustainability of this institution,” he added.
Related: How Much Do You Know About Islamic Finance?
TH has also made a zakat payment amounting to RM106.2 million for 2020 compared with RM86 million in 2019; hence, depositors do not have to pay zakat on the savings and profit distribution received. The zakat paid will benefit the asnaf community throughout the country.
“Although the hajj was postponed last year due to COVID-19, we shall continue to pray for this pandemic to end soon so that we can become Allah’s guests again. We have to be prepared for any possibilities. I would advise all prospective pilgrims to join the hajj courses which are currently conducted online. I would also like to remind them to take care of their health by exercising regularly and consuming nutritious food because the hajj rituals will demand physical and mental strength,” said YB Datuk Dr Zulkifli.
Related: The Basic of Islamic Banking
The Government of Saudi Arabia has yet to issue any official statement on this year’s pilgrimage although it has received about 100,000 umrah pilgrims since November 1, 2020.
Depositors can check the distribution of profits credited to their accounts after noon today through the THiJARI application, TH counter, Bank Islam and Bank Rakyat and through the electronic channel of TH strategic partner bank namely Bank Islam, Bank People, Maybank and CIMB.
For more information, click here.
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9 Jenis Caj Kad Kredit Termasuk Pengeluaran Tunai & Transfer Duit
- By CompareHero.my
Jika digunakan dengan betul kad kredit akan memudahkan hidup anda. Kami senaraikan 9 caj kad kredit yang perlu anda ketahui untuk mengelakkan caj berlebihan sewaktu menggunakan kad kredit supaya anda tidak rugi.
1. Caj pendahuluan tunai
Terdapat beberapa bank di Malaysia yang menawarkan pendahuluan tunai untuk pemegang kad kredit. Fungsi ini membenarkan pemegang kad kredit untuk mengeluarkan wang di ATM atau kaunter menggunakan kad kredit mereka. Jumlah yang dikeluarkan kemudian akan ditolak dari had kredit, dan terdapat had tertentu untuk perkhidmatan pendahuluan tunai ini.
Terdapat golongan yang akan melihat perkhidmatan ini sebagai jalan pintas untuk mendapatkan tunai tetapi jangan cepat teruja. Pendahuluan tunai ini sebenarnya sejenis pinjaman dengan kadar faedah yang sangat tinggi, selain caj lain yang juga akan dikenakan keatas pengguna.
Sebagai contoh, caj faedah yang akan dikenakan bermula dari hari pengeluaran sehinggalah bayaran penuh dibuat. Biasanya, caj faedah yang dikenakan ialah setinggi 18% iaitu caj tertinggi yang dibenarkan. Dengan kadar seperti itu yang bakal dicaj setiap hari, cuba anda bayangkan berapa yang perlu anda bayar hanya untuk faedah sahaja. Selain kadar faedah yang tinggi, anda juga akan dikenakan caj untuk pengeluaran wang.
Baca juga: Kelebihan Menggunakan Kad Kredit Berbanding Tunai
2.Pengeluaran ATM antarabangsa
Jika anda menggunakan kad kredit untuk mengeluarkan wang sewaktu berada di luar negara, caj pengeluaran dan juga fi tukaran matawang akan dikenakan untuk setiap transaksi. Kad kredit anda juga perlu menyokong rangkaian Cirrus atau PLUS yang membenarkan anda untuk membuat pengeluaran wang di mesin ATM seluruh dunia. Jumlah caj yang dikenakan adalah tetap bagi setiap bank, iaitu sekitar RM8 – RM12. Sebagai contoh, Hong Leong mengenakan caj RM12.72 untuk pengeluaran melalui Cirrus atau PLUS.
Salah satu perkara yang perlu diberi perhatian ialah tukaran matawang serta-merta. Sesetengah ATM akan menawarkan pilihan tukaran matawang dinamik (DCC) untuk mengeluarkan wang tersebut menggunakan matawang negara anda. Jangan gunakan pilihan ini kerana anda akan kerugian. Lihat penerangan lanjut DCC adalah seperti berikut.
3. Tukaran matawang dinamik (DCC)
Antara sebab ramai individu memilih untuk menggunakan kad kredit terutamanya sewaktu melancong ialah kemudahan yang ditawarkan. Anda tidak perlu membawa wang tunai yang banyak dan hanya perlu bayar menggunakan kad kredit. Selain daripada kemudahan itu, anda juga boleh menikmati penjimatan apabila menggunakan kad kredit.
Tetapi, untuk memastikan anda dapat jimatkan wang dan tidak dicaj berlebihan, anda harus faham bagaimana tukaran matawang dinamik (Dynamic Currency Conversion) berfungsi. DCC memberikan anda pilihan matawang yang digunakan ketika anda melakukan pembelian di luar negara dengan kad kredit.
Contohnya, anda di London dan ingin membuat bayaran hotel anda menggunakan kad kredit. Anda akan ditanya sama ada ingin membayar menggunakan Ringgit (RM) ataupun Pound (GB). Anda bakal melakukan kesilapan jika memilih untuk membayar menggunakan RM, dengan menyangka ianya lebih murah.
Jika anda melancong ke luar negara, gunakan matawang tempatan dalam membuat bayaran. Dengan menggunakan RM, anda akan berhadapan dengan caj tukaran matawang asing di bank luar negara. Sesetengah bank juga akan mengenakan fi tambahan serta caj pengurusan.
Tips: Jika anda tidak pasti tentang caj yang dikenakan untuk pengunaan kad kredit anda, dapatkan kepastian dari pihak bank pengeluar kad kredit anda.
4. Yuran urusniaga asing
Caj ini mungkin biasa bagi mereka yang sering membeli-belah di luar negara. Yuran urusniaga asing merupakan sejenis caj yang dikenakan apabila pemegang kad kredit membeli barang di luar negara atau urusniaga yang diproses oleh bank luar negara. Yuran ini bergantung kepada pengeluar kad kredit. Biasanya, caj yang dikenakan ialah sekitar 1-3% dari jumlah bayaran.
Jika anda tidak pasti berapa caj yang dikenakan, hubungi bank anda sebelum membuat bayaran.
5. Kadar faedah
Ini merupakan antara caj penting yang perlu diberi perhatian oleh pemegang kad kredit. Semua kad kredit mengenakan caj kadar faedah. Namun, ramai pemegang kad kredit salah faham kerana menyangka caj ini dekenakan setiap kali anda menggunakan kad kredit.
Sebenarnya, anda hanya akan dikenakan caj kadar faedah sekiranya ada baki tertunggak pada akaun anda selepas tempoh tanpa faedah. Dari tarikh penyata kad kredit dikeluarkan sehingga tarikh akhir, jika anda lakukan pembayaran sewaktu tempoh ini anda tidak akan dikenakan sebarang faedah.
Bagi menikmati kelebihan ini, pastikan anda membuat bayaran pengunaan kad kredit anda sepenuhnya pada atau sebelum tarikh akhir tersebut. Kebanyakan bank menawarkan tempoh penangguhan sehingga 20 hari dari tarikh penyata kad kredit dikeluarkan. Namun dapatkan dapatkan pengesahan dari bank anda terlebih dahulu. Kadar faedah juga boleh berubah dengan sedikit atau tanpa sebarang makluman. Ini boleh disebabkan kerana anda lambat membuat bayaran yang membolehkan anda dikenakan caj kadar faedah sehingga 18%.
Baca juga: Perbezaan Diantara Kadar Keuntungan dan Kadar Faedah
6. Caj bayaran lambat
Caj ini dikenakan kepada pemegang kad kredit yang lambat melangsaikan baki tertunggak akaun kad kredit mereka. Contohnya, jika bayaran minima tidak dibuat selepas tarikh akhir, caj sebanyak 1% akan dikenakan kepada baki tertunggak, dari serendah RM10 hinggalah RM100.
Baca juga: 6 Sebab Pembayaran Kad Kredit Anda Ditolak
7. Yuran tahunan
Yuran tahunan merupakan caj penyelenggaraan yang dikenakan oleh bank kepada pemegang kad kredit. Sesetengah bank akan memansuhkan yuran tahunan kad kredit bergantung kepada jenis kad dan promosi. Biasanya, kad kredit yang memiliki yuran tahunan menawarkan ganjaran serta kelebihan berbanding kad biasa. Yuran tahunan yang dikenakan ialah dari RM80 hingga RM626 untuk kad kredit premium.
Inginkan kad kredit tanpa yuran tahunan? Klik pautan dibawah untuk banding dan mohon kad kredit tanpa yuran tahunan secara percuma.
8. Yuran Kad Baharu
Jika kad kredit anda hilang, rosak, atau dicuri, anda akan dikenakan caj untuk menggantikan kad tersebut. Caj yang dikenakan berbeza bagi setiap bank. Sebagai contoh, Maybank dan Citibank mengenakan caj RM50, manakala AmBank mengecaj RM25 untuk dapatkan kad kredit baharu.
9. Caj GST
Bermula 1 April 2015, kerajaan telah menguatkuasakan cukai GST sebanyak 6%, dengan pengecualian terhadap beberapa barang keperluan asas. Dengan penguatkuasaan ini, yuran dan caj kad kredit juga tertakluk kepada GST. Sebelum ini, pemegang kad kredit hanya dikenakan cukai perkhidmatan. Selepas pelaksanaan GST, cukai perkhidmatan sebanyak RM50 telah dimansuhkan. Selain itu, perlu difahamkan bahawa GST hanya akan dicaj untuk yuran tahunan, dan tidak terhadap caj bayaran lambat dan caj lain.
Pastikan anda ketahui dan faham caj yang dikenakan sewaktu menggunakan kad kredit seperti yang dimaklumkan diatas. Dengan ini, anda boleh elakkan caj seperti caj bayaran lambat, kadar faedah yang tinggi, dan tukaran matawang dinamik sekaligus menjadi pengguna kad kredit yang bijak.
