What Is Clubhouse? Here’s How You Can Use The Hottest New App To Grow Your Business And Brand
- By CompareHero.my
- February 19, 2021
Clubhouse is the hottest new social media app on the market. Like its namesake, this exclusive invite-only clubhouse has all the trappings of an actual clubhouse—the ultra-elite such as CEOs, musicians and celebrities are lining up to join in on the fun, and it has faced its fair share of controversies in just a short span of time. The only difference is—it’s only accessible in the digital form through the Apple Store.
Created by entrepreneur Paul Davison and former Google engineer Rohan Seth, it was released in April 2020. You can also get into Clubhouse by reaching the top of the waiting list—but someone must let you in! Though the app is still in beta and not open to the public, its community has grown exponentially from a few thousand to several million in a matter of months.
Contents
What is Clubhouse and what’s all the buzz behind it?
Think of it this way—an all-access pass to multiple global conferences—but in the digital form through a mobile app. But the best part is, you don’t have to wait hours in line to get in the room (our research tells us that the room limit is currently at 5,000 people). And the best part is that you too could host a room! These rooms are filled with titles, brief topic descriptions, and led by moderators. You could also think of it as an interactive podcast in real-time.
But what is really getting everyone so hyped-up and excited about Clubhouse is how unscripted, and raw these chat rooms can be—people share raw ideas, stories and collaborate—in real-time—by only using their voices without much preparation.
The nature of the app takes away the usual pressure and necessity that comes with webinars and even podcasts because participants don’t need to be all dolled up—and they can enjoy the talks from the comfort of their own bed or personal space. No complex gear or equipment is needed to run or moderate a room either—you just need to start one room and get the crowd rolling in.
So far, Clubhouse has been used for a variety of reasons: from more professional endeavours such as silent networking sessions and professional dialogues on topics like finance, healthcare and politics, to laid-back karaoke sessions—some have even used it as a gaming room.
These raw and honest conversations on Clubhouse, however, have also been points of contention among journalists, business leaders, and world leaders, as some have shared concerns over the app’s privacy protections.
Related: SME Landscape of Malaysia
Why Clubhouse could be a great marketing tool for your business?
Controversy and privacy issues aside, as most social media platforms have their own fair share of problems, the reach, accessibility and flexibility of Clubhouse—wandering from room to room seamlessly or choosing to stay for hours in one, gives Clubhouse the potential of becoming a platform to grow your business—if used strategically.
Entrepreneurs may treat it as a large digital expo to connect with business leaders and customers to share their brand story and vision while exchanging or getting tips from industry experts.
Through Clubhouse, you, as a business owner, could ask questions, muster up conversations and exchange numbers with influential entrepreneurs, venture capitalists, politicians and celebrities. This accessibility to a wealth of unfiltered information and expert advice has—to a degree—democratised knowledge sharing unless they start charging these rooms. For those who want to engage with others, you could host your own rooms, and share news, tips or discuss practically any topic with other business leaders.
We list down six reasons that make Clubhouse a gold mine for marketers.
6 benefits that your business can get from Clubhouse
1. Learn from industry experts
Do you have aspirations to start your own start-up? Or perhaps, you are a business owner who needs more tips on how to expand your business? Well, Clubhouse is a great way to get the answers for both.
Use the explore feature to look for conversations—or even start one. Topics range from world affairs to wellness to tech and sports—there’s a little bit of everything for everyone.
If you are already on podcasts and webinars, Clubhouse could be an additional opportunity to garner free advice from industry leaders in these casual conversations. As an entrepreneur or business owner, you can learn about a wide range of topics that can help you scale or strengthen your business, or solve a problem just by searching keywords.
Related: #CHSupportsLokal – How Social Media Can Benefit Small Businesses (SMEs) – Here Are 6 Ways
The next tech-wizard that could help your start-up propel to new heights could be in a tech room.
2. Finding people with skills you need
Though we have yet to see how Clubhouse will disrupt the human resources and talent acquisition industry scene, we can’t deny that it could easily be one of the best ways to connect with top talents.
While visiting rooms relevant to your business, you may stumble upon people with the knowledge and experience you need. If you are talent hunting for your business, all you gotta do is just scroll through different rooms and different industries to see who piques your interest.
Of course, whether an individual or potential candidate really stands out to you depends on how well they position themselves in their Clubhouse bio—so we are not saying you may find the exact talent—but Clubhouse is a certainly great platform to connect with or search for knowledgeable, experienced and like-minded people.
3. Seek and give away free advice
Reddit or Lowyat.net, anyone? If you are looking for a space to get your answers to questions, Clubhouse is the place for you. Like the aforementioned duo, Clubhouse could be a place to get answers and advice from industry shakers and movers, and experts— but, in real-time.
If you are on Clubhouse long enough, you may come across founders or business leaders you admire—use this as an opportunity to get feedback on a new feature of your new app or business. Clubhouse allows everyone to essentially exchange playbooks.
Maybe you are not looking for advice, but you need instant feedback or just a second opinion. Clubhouse is a great opportunity to create a room and ask for feedback on your latest business idea. If you are struggling in your business, this could be the chance to get other entrepreneurs to weigh too.
But we won’t deny that you may come across people who enjoy giving free unsolicited advice, but that’s for a different story. Who doesn’t like free advice anyway? Especially if you are getting tips and insights that would typically cost thousands in real-life conferences.
Related: Malaysia 5.0: Here’s How Your SME Can Benefit From Digital Transformation
Looking for new business partnerships and affiliates? Clubhouse, a hub for VCs and business elites, could be the perfect place to start looking at.
Looking for new business partnerships and affiliates? Clubhouse, a hub for VCs and business elites, could be the perfect place to start looking at.
4. Explore new business opportunities
Are you a market leader? This is your opportunity to expand your network. You can create your own chat rooms and host talks evolving your area of expertise. Whether these engagement activities are one-time experiments or recurring events, the goal is to build a community of followers.
But don’t forget to exchange numbers and social media details! Some speakers connect on Clubhouse, but then formally chat professional matters on Linkedin later.
While conducting these rooms, you may find it fun and rewarding to connect with groups of people who appreciate the sharing of knowledge and find it useful. As a result of these conversations, your business may have gained new clients.
5. Great networking opportunities
If there’s one big takeaway that you should get about Clubhouse in this article is that it’s a great app to connect and network.
With travel bans in full force—no thanks to the COVID-19 pandemic—all of us have had to resort to staying at home and connecting digitally. This, of course, has been difficult for many—particularly social butterflies who love to connect and share ideas.
Though other platforms like Facebook, Instagram, Twitter and LinkedIn, among others, does allow users to connect with each other in real-time through texting and video calls and even voice message—there’s no social app that allows you to converse with others, in real-time, and feel like you are in one big room—but with the exception that it’s all virtual.
Related: 7 Inspiring Tech Entrepreneurs in Malaysia
For some, Clubhouse gives them quicker access to people who they may never reach or share information with—due to different locations of being in different countries and just differing interests.
This is your chance to engage with other entrepreneurs and influencers and to hopefully develop invaluable business relationships and connections. One important group from this pool are venture capitalists (VCs). Start a room and get your business in front of these investors. Also, use it as a way of getting immediate feedback from investors. Even if you fail to convince a VC to invest in your business, it’s still a way to train and improve your product and pitch.
Clubhouse is not just a place to follow influential figures in different industries, it’s also a platform that helps you keep abreast of the latest industry news, moves and wins from your competitors and market leaders. This gives you first-hand insights into how they plan, strategise, manage, and execute ideas!
If you follow enough people, your dedicated timeline will—like most other social media timelines due to the algorithms—come with specifically tailored information for you like trends to watch, industry news, and audience sentiment.
Give it some thought—but Clubhouse could also be a great way to announce company news. However, not all industries are suited to announcing major news, moves, wins or losses on Clubhouse unfiltered, but it’s worth exploring at least.
Recently launched a new feature on your website? Create a room to announce your new product, its features, your business direction and decision, and to educate people about the decision.
Beyond being a marketing tool, Clubhouse is also a great way to build brand awareness by showcasing your brand values, whilst having meaningful discussions with your audience. It could be a great way to boost anticipation with your community and get instant feedback on your services and products. Think of Clubhouse as a crowdsourcing platform for ideas.
Related: Propelling Entrepreneurs and SMEs into the Digital World
I’m sold, let’s start connecting. How do I use Clubhouse? Here are quick tips from us!
Once you are on the Clubhouse app, you may feel a little overwhelmed or lost if you are new. Here are a few suggestions or tips that you can consider once you are in.
- Build your online persona—complete your bio profile and add a nicely-angled (and decent!) photo for your bio. This step is crucial because before people actually click on your profile to see who you are—they will only see your face and name, so it’s crucial to be able to present yourself in an interesting, fun, and compelling, yet professional way. First impressions matter in real life and even in the digital world!
- Use keywords in your bio. To find and connect with the right people, you need to be able to reach them. And in order to do that, you need to use the right keywords. If you are an environmentalist, use more words associated with that area of interest such as “climate change” and “global warming” or “green enthusiast.”
- There’s nothing wrong in wanting to connect exclusively on the Clubhouse platform, but if you want to advance the connection to a deeper level, it’s best to include some form of call-to-action in your bio so your users know more about you and can be directed to another page associated with you. While you are at it, integrate Instagram and Twitter!
- If you want to increase engagement, a great way to do that is to host your own room. Start a discussion on a topic or use it as a way to network digitally. Moderators will not only appear on the top of the page and be more visible to the audience, but they have the chance to bring people up onto the stage—this helps if you are looking to build a presence on the platform.
- Start your own club. Looking for like-minded people or those in the same industry as yours? Use the Clubs feature to create and join other private groups within the app, a feature that is made and tailored to your specific interests. The Clubs feature is super helpful when looking for leads, talents or resources in your industry. You could also use the rooms and Clubs to promote your business products and services.
- Don’t be shy now! Many people join Clubhouse just to listen rather than talk, which is totally fine. But if you are looking for answers, want feedback or just have opinions to share, don’t be afraid to raise your voice (or hand in this case).
All things considered — Clubhouse yay or nay?
There are some obvious wins for Clubhouse—from a social media perspective, you can reduce screen fatigue by just tuning in from the comfort of your own space without having to show your face. It’s also a great way to connect and network and gives the regular Joes and Janes access to people they might not usually have like CEOs and industry movers and shakers.
However, as we’ve pointed out before, there have been many controversies surrounding the issue of privacy and there’s just a lot of unknowns or unprecedented situations—announcing company news on Clubhouse may sound interesting and could be potentially engaging but it could also open a can of worms and attract negative feedback. The last thing your company wants is a PR crisis. Last, and certainly not least, the app, unfortunately, does not cater to those who are deaf or have a difficult time hearing properly.
We hope you found this article useful and interesting! Share your feedback with us on our Facebook, Instagram and Twitter pages.
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How To Withdraw EPF Account Savings For Personal Use?
- By CompareHero.my
This article was first published on January 2017 and has been edited and updated for accuracy and clarity.
Do you know the rights you have over the retirement money you save in your EPF account? CompareHero.my spoke to Puan Balqais Yusoff, Head of Strategy Management Department in EPF to help answer some of the common questions we have.
She also shared key rights and responsibilities you need to know to make wiser decisions for your future and prepare for a better retirement, including withdrawals from Akaun 2.
Related: Everything You Need To Know About EPF i-Sinar Facility
Contents
- What can you withdraw your EPF savings for?
- What extra benefits do you get from EPF?
- Who has the right to your EPF savings?
- Are there different rights between the conventional EPF Savings and Simpanan Shariah?
- Once you go to Shariah, you cannot go back
- Do you get taxed on your EPF contributions?
- EPF is more than just a retirement fund, they aim to prepare Malaysians for a better future
What can you withdraw your EPF savings for?
You may have heard about people taking out their EPF savings before their retirement, but before you plan on doing the same here are some important points you should know.
Firstly, Puan Balqais shares that EPF allows their members to withdraw from their savings for purposes which EPF believes will improve retirement life of their members, which includes housing; education; and for medical purposes. There are also different withdrawal rights according to the various EPF accounts – Akaun 1 and Akaun 2.
EPF allows full withdrawal of Akaun 1 and Akaun 2 under certain conditions:
- When a person migrate to another country
- Upon a person becoming disable, or in the event of death.
- A civil servant placed under the pension scheme. This individual can cease to contribute to the EPF because they are entitled for the government pension scheme under KWAP.
1. Akaun 1
This is the main account for your retirement needs and makes up 70% of your EPF savings. Money from this account can only be taken out upon retirement. Throughout our working life, there is a basic savings amount that EPF has determined is required for each age group. To see the amount of savings you should have at your current age, click here.
Based on that chart, if you have an excess of money, that is you have saved more than your Basic Savings for your current age, you can actually invest your money in EPF approved fund management institutions. You can utilise 30% of your excess savings.
Let’s say you’re 30, according to the basic savings set by EPF you should have at least RM29,000. You have RM40,000 in Akaun 1, which means you have RM11,000 in excess. You can then invest 30% (as of 1 January 2017) from the excess of RM11,000 which amounts to RM3,300 into fund management which has institutions which has been approved by EPF.
“If an EPF member does not reach the basic saving requirement, they cannot utilize the money from Akaun 1 to invest in unit trusts”, said Puan Balqais.
Related: EPF i-Sinar Category 2 Application Opens Today – Here’s How You Can Apply
2. Akaun 2
30% of your total EPF savings will be in this account, from which you can make pre-retirement withdrawals for purposes stated above, including housing, education and medical.
“EPF allows pre-retirement withdrawals which in a way enhance the retirement wellbeing of our members. Savings in Account 2 can be withdrawn under specific conditions.” – Puan Balqais
Puan Balqais shares that EPF members can withdraw savings from Akaun 2 for the following purposes:
- Housing withdrawal, as this allows a member to have a roof over their head when they retire.
- Education withdrawal. Members can withdraw for themselves or their children, because EPF believes with better education they have the opportunities for a better livelihood in the future.
- Medical withdrawal. For members who have to pay for medical treatment of critical illness, they can withdraw for themselves or their close family members. Health is wealth.
- Age 50 withdrawal. A member can withdraw the full amount from their Akaun 2 when they turn 50. Nevertheless it is encouraged that members do not withdraw their savings in Akaun 2 at age 50, because once they withdraw it entirely, it’s gone and they do not earn their annual dividends.
- Haj withdrawal. Haj withdrawals helps members finance basic expenses of the Haj with a limit of RM3,000.
3. Akaun 55
Upon reaching age 55, your savings in Akaun 1 and Akaun 2 will be combined and put into this account. When members turn 55, they can make withdrawals and have access to savings in Akaun 55 anytime. They can perform a lump sum withdrawal, monthly withdrawals or partial withdrawal. But members should also know that “as long as an individual still has savings in EPF even upon reaching age 55, they will still enjoy the annual dividend” said Puan Balqais.
4. Akaun Emas
This is an account for EPF members who continue to work beyond the age of 55. Monthly contributions between the age of 55 – 60 will be allocated under this account. Member’s cannot access savings in Akaun Emas until they reach age 60. But savings under Akaun 55 will still be accessible to members. Upon reaching 60, all savings will be consolidated into this single account. They will then have full access to the savings in Akaun Emas to make full withdrawals, or even partial withdrawals.
See also: Imagine Being Able to Retire Rich, Instead of Broke and Poor
What extra benefits do you get from EPF?
Individuals who contribute to EPF will have access to certain benefits where they or their family will receive a sum of money if an unfortunate event happens to them before they turn 55.
- RM2,500 as token of sympathy given to next of kin in the event of the member’s death
NOTE: Application must be made within 6 months from the date of death of the EPF member by their next of kin.
- RM5,000 as token of sympathy if a member becomes incapacitated (on top of being able to withdraw all of their EPF money in full)
NOTE: Application must be made within 1 year from the incapacitation case of the member.
However, all of these benefits are no longer available once a member turns 55. In the event of death or incapacitation after that age, members will no longer have the right to receive the death or incapacitation assistance.
You might wonder, does EPF use our monthly contributions to pay out these tokens or aid? Puan Balqais assures us that this isn’t the case. Money for these benefits are sourced from EPF investments income, so don’t worry it does not come from member’s and their employers contribution.
“From our investments, EPF generates income, and the entire income is distributed as dividends after deducting all the administrative cost including the payment of these assistance.” shares Puan Balqais.
Who has the right to your EPF savings?
Do you know what will happen to your money in your EPF account in the case of an unfortunate event, such as death? You have the right to nominate your beneficiary, so if you haven’t done so we highly suggest to get on it.
Make sure the rights of your loved ones are taken care of by nominating any individuals for your EPF savings. This is a right given to you as you get to choose who you believe will handle your money in a proper manner if anything happens to you.
Before you nominate, know this:
- Members can nominate any natural person, meaning a human as a beneficiary. For Muslims they must nominate an administrator or wasi who will act as an intermediate person that will distribute their asset in EPF based on the faraid As for non-Muslims they can nominate anyone where percentage entitled for the savings can be allocated for the individuals they nominate.
- Nomination must be of an individual, so you cannot name an organization, association, societies or any type of entities. Puan Balqais advises all of us to nominate their next of kin such as their spouse, children or parents to receive or administrate their savings.
“Members can nominate other individuals who are not their next of kin as beneficiary or administrator (for Muslims), but naming individuals other than next of kin may raise difficulties in the future when they pass on especially the flow of the money as there will always be a lot of dispute with money matters.” – Puan Balqais
Find more about KWSP nomination here.
Are there different rights between the conventional EPF Savings and Simpanan Shariah?
“The 2.5% of minimum guaranteed dividend return which applies to the conventional scheme does not apply to Simpanan Shariah. This is because under Shariah principle EPF is not allowed to make any promise of the gains.” – Puan Balqais
If you have switched, or are planning to switch, to the recently announced Simpanan Shariah, you’ll be happy to note that there are no loss of rights. However, there is a difference in terms of the minimum guaranteed dividend returns.
But don’t worry, if you have opted for Simpanan Shariah, EPF will not create capital depreciation. This means in the event that EPF makes losses, your savings will not incur loss. For example, you currently have savings of RM20,000 in Simpanan Shariah which will then be invested by EPF. In the event that EPF makes losses, you will not incur that loss and will still have the RM20,000.
Once you go to Shariah, you cannot go back
Another point to take note is once you convert your savings from conventional to the Simpanan Shariah scheme, you cannot switch back to conventional scheme.
“Once the money is being tainted and you take it back and forth (between the two different schemes) we cannot ensure the money is being properly cleansed according to the Shariah principle. You will be mixing the funds that you invest because you will be investing in non-Shariah compliant assets. This is why we can’t allow people to switch back and forth between the schemes.” – Puan Balqais
Do you get taxed on your EPF contributions?
There are tax relief from the government depending on what has been announced in the Budget. Right now, members receive a RM6,000 tax relief for life insurance premium and EPF contributions combined. As for the employer contributions, they are tax free.
This means your contribution as an employee will be taxed according to your income bracket and the tax relief you get. As the gross income of an employee, including the employee’s portion of EPF contributions are taxed based on the income bracket set by the Inland Revenue Board of Malaysia, members can claim the amount contributed through the tax relief mentioned above.
For self-employed individuals who contributes to EPF, the tax relief they will get is also RM6,000.
EPF is more than just a retirement fund, they aim to prepare Malaysians for a better future
“We are beyond looking at your retirement savings. We want to be an institution that helps you grow and enables you to enjoy a secure retirement. We want to be at the heart and mind of the members. We hope Malaysians will look at retirement from a different context whereby, they recognize the need to start planning now.”
Puan Balqais also ensures us that EPF’s duty is to their members. With their FREE Retirement Advisory Services, you can get assistance and financial knowledge to plan your retirement by determining what your needs, wants, and desires are.
Now that you know the rights you have for your retirement savings, you should be able to make better informed decisions towards the money you have in your EPF accounts. Remember to consider all the advice shared above before using your retirement savings.
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6 Tips Mudah Lulus & Syarat Kelayakan Permohonan Kad Kredit
- By CompareHero.my
Ketahui 6 tip ini yang boleh membantu meningkatkan peluang permohonan kad kredit anda diluluskan oleh pihak bank!
Contents
1. Faktor umur dan sejarah kerja
Umur dan sejarah kerja seseorang memainkan peranan dalam menentukan sama ada permohonan kad kredit akan diterima atau ditolak oleh pihak bank. Bagi faktor pekerjaan, sekiranya seseorang itu baru memasuki alam pekerjaan, mereka mungkin mengalami kesukaran untuk mendapatkan kelulusan kad kredit.
Jadi pastikan anda sekurang-kurangnya telah bekerja selama setahun untuk memastikan permohonan anda diluluskan. Selain itu, sekiranya anda pekerja kontrak, anda juga mungkin berhadapan kesukaran mendapat kelulusan untuk kad kredit dari bank. Ini kerana bank kurang gemar meluluskan permohonan kad kredit kepada individu yang bekerja secara kontrak kerana status pekerjaan mereka lebih berisiko berbanding pekerja yang bekerja secara tetap.
Bagi faktor umur pula, sekiranya anda berumur 30 tahun keatas dah tidak pernah memiliki kad kredit, anda mungkin berhadapan sedikit kesukaran untuk mendapatkan kelulusan bagi kad kredit pertama anda. Maka nasihat kami ialah dapatkan kad kredit sebelum umur anda menjangkau lebih 30 tahun.
2. Komitmen kewangan
Jika anda mempunyai komitmen kewangan seperti pinjaman kereta, pinjaman perumahan atau pinjaman peribadi, anda boleh mendapat kelulusan kad kredit dengan lebih senang. Ini kerana bank boleh menilai corak pembayaran anda untuk memenuhi komitmen kewangan tesebut.
Sebaliknya, jika anda tidak mempunyai sebarang komitmen kewangan, bank tidak boleh melihat corak pembayaran anda maka pihak bank kebiasaannya enggan meluluskan permohonan kad kredit dalam situasi begini.
3. Dapatkan salinan laporan kredit
Apabila bank memproses permohonan kad kredit, pihak bank akan menganalisa laporan kredit anda menerusi Central Credit Reference Information System (CCRIS). Jadi, sebelum anda membuat permohonan untuk kad kredit, dapatkan dahulu salinan laporan kredit CCRIS anda untuk pastikan bahawa laporan kredit anda dalam keadaan baik sebelum anda membuat permohonan kad kredit. Anda boleh dapatkan laporan kredit CCRIS anda dari Bank Negara Malaysia (BNM).
Berkaitan: Perbezaan Laporan Kredit CCRIS dan CTOS
4. Tingkatkan taraf laporan kredit anda
Jika terdapat sebarang percanggahan makumat pada laporan kredit anda, pastikan anda bertindak segera kerana percanggahan ini akan menyebabkan masalah pada permohonan kad kredit anda. Tetapi anda perlu tahu bahawa percanggahan tersebut hanya boleh dikemaskini dengan menghubungi pihak bank, bukannya Bank Negara Malaysia atau CCRIS. Contohnya, laporan kredit CCRIS menunjukkan anda mempunyai tunggakan bayaran pada Bank X atau syarikat telekomunikasi, tetapi hakikatnya anda telah melunaskan semua pembayaran.
Maka untuk membetulkan kesilapan yang menunjukkan tunggakan anda pada Bank X atau syarikat telekomunikasi, anda perlu menghubungi pihak tersebut segera. Pihak bank atau syarikat telekomunikasi tersebut kemudian akan mengemukakan maklumat terkini supaya laporan kredit CCRIS ada dikemaskini dengan betul.
Selain daripada itu, untuk meningkatkan taraf laporan kredit anda, pastikan anda membayar semua bil dan pinjaman kewangan anda secara konsisten kerana jika anda sering ada tunggakan pembayaran, laporan kredit akan menunjukkan rekod anda sebagai individu yang mempunyai corak pembayaran yang tidak baik.
5. Kaji taraf pendapatan minima
Anda mungkin tertarik pada sesuatu kad kredit yang menawarkan mata ganjaran Air Miles yang banyak dan anda terus tekan butang untuk memohon. Tunggu dahulu! Sudahkah anda mengkaji syarat pendapatan minima yang diperlukan untuk memohon kad tersebut?
Kebiasaannya, kad kredit yang menawarkan ganjaran yang lumayan sering meletakkan pendapatan minima yang tinggi sebagai syarat kelayakan untuk kad tersebut.
Secara amnya, kad kredit bertaraf emas memerlukan syarat kelayakan yang minima, maka anda boleh membuat permohonan untuk kad bertaraf emas dahulu. Setelah anda membuktikan tahap kebertanggungjawaban yang tinggi dan mempunyai corak pembayaran baik, anda kemudian boleh memilih untuk membuat permohonan kad kredit yang bertaraf premium.
Berkaitan: Cara Guna Kad Kredit Yang Golongan Millenial Patut Tahu
6. Kaji permohonan anda
Kadang kala permohonan kad kredit ditolak oleh kerana anda telah melakukan kesilapan sewaktu mengisi borang permohonan. Walaupun nampak mudah, ramai yang membuat kesilapan semasa mengisi maklumat peribadi mereka di borang permohonan. Teliti borang permohonan anda untuk pastikan semua maklumat telah diisi dengan betul sebelum anda hantar permohonan itu, terutamanya jika anda melakukan permohonan kad kredit melalui laman sesawang.
Anda mahu mendapatkan kad kredit pada kadar yang terbaik? Bandingkan kad kredit terbaik secara percuma di CompareHero.my untuk dapatkan kad kredit yang terbaik untuk penggunaan anda.
Baca juga: Kelebihan Menggunakan Kad Kredit Berbanding Tunai
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Everything You Need To Know About EPF i-Sinar Facility
- By CompareHero.my
If you have lost your job or experienced a loss in income due to the COVID-19 pandemic, you might want to consider applying for the EPF i-Sinar programme to support your finances. Here’s a quick guide to help you better understand the i-Sinar facility.
Many Malaysians have experienced job losses, salary cuts and forced unpaid leave since the implementation of the first Movement Control Order (MCO) last year. If you’re one of those who were affected and are in need of extra cash to pay off the debts and bills, the Employees Provident Fund (EPF) i-Sinar programme can help you with that.
Contents
- What is the EPF i-Sinar facility?
- What’s the difference between i-Lestari and i-Sinar?
- Do you have to replace the i-Sinar withdrawal amount?
- Who is eligible for i-Sinar?
- How much can you withdraw from EPF i-Sinar?
- How to apply for i-Sinar?
- How to check your i-Sinar application status online?
- Understand your financial situation before applying for i-Sinar
- i-Sinar FAQs
What is the EPF i-Sinar facility?
EPF i-Sinar or i-Sinar KWSP was announced as a part of the government scheme to support Malaysians who were financially hit by the pandemic, allowing eligible members to withdraw a set amount of funds from their respective accounts.
The EPF has allocated RM70 billion for the initiative, which is expected to benefit eight million members who can withdraw a maximum of RM10,000 or RM60,000, depending on their Account 1 balance. The i-Sinar facility is an extension of the i-Lestari programme which allows a monthly withdrawal of up to RM500 from Account 2, but is scheduled to end this March.
What’s the difference between i-Lestari and i-Sinar?
The i-Lestari is a withdrawal facility that is intended to help members meet their monthly financial needs during the COVID-19 pandemic period. It allows members to withdraw up to RM500 from Account 2 for a maximum 12-month period. This programme runs from April 1, 2020 until March 31, 2021.
i-Sinar, on the other hand, works as an advance facility on your retirement funds. The scheme allows you to withdraw a larger amount of up to RM10,000 (depending on your Account 1 balance), which can benefit those who need large funds upfront. Eligible members will receive an interim payment of up to RM1,000 from the total amount applied on January 26, 2021.
Do you have to replace the i-Sinar withdrawal amount?
Yes, members who choose to apply for i-Sinar are required to channel 100% future EPF contributions into Account 1 until the amount withdrawn is replenished. After that, the contributions will return to the status quo: 70% and 30% to Account 1 and Account 2 respectively.
Who is eligible for i-Sinar?
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Check which category you belong to and see if you’re eligible to apply. (Image source: EPF)
i-Sinar facility is divided into two categories which are Category 1 and Category 2. Below are the details for each category:
Category 1
- Members who have not contributed to the EPF for at least two consecutive months
- Housewives
- Members who are self-employed and work in the gig economy sector
- Members who have lost their jobs
- Members who were given unpaid leave
- Members who have lost their source of income
- Members who are still working but their base salary has been cut by 30% or more since March 2020
- No supporting documents required as the approval will be verified based on EPF data
- Application began on December 21, 2020
- Disbursement started mid-January 2021
Category 2
- Members who are still working and have experienced a reduction in overall income of 30% and above, including salary, allowances and overtime pay since March 2020
- Supporting documents required:
- Salary slips before and after the income reduction, and
- A notice from employer, which states that allowances/overtime claims have been suspended or reduced
- Application begins January 11, 2021
- Disbursement starts the following month after approval
EPF members below the age of 55 who applied for the i-Sinar facility will be given approval beginning March 8, 2021, including new applications received after that date (subject to their available Account 1 balance). The interim payment of RM1,000 implemented in January 2021 will be effectively stopped. Members who have not made any application for the i-Sinar facility and intend to apply during this transition period are advised to wait until the revised i-Sinar comes online on March 8. Read here for more info.
How much can you withdraw from EPF i-Sinar?
The actual amount that you can withdraw under the i-Sinar facility depends on whether you have more or below than RM100,000 savings in your Account 1. You can choose how much to withdraw in the first payout, but the subsequent payments must be at least RM1,000 per month.
a) Account 1 savings ≤ RM100,000
You can withdraw up to RM10,000 while maintaining a balance of RM100 balance in Account 1, The payments will be staggered across six months and you can receive up to RM5,000 for the first payout.
| Account 1 balance | Maximum withdrawal amount | First month payment |
| RM4,500 | RM4,400 | RM4,400 |
| RM10,000 | RM9,900 | RM5,000 |
| RM70,000 | RM10,000 | RM5,000 |
| RM100,000 | RM10,000 | RM5,000 |
b) Account 1 savings > RM100,000
If you are in this category, you can withdraw up to 10% of your savings or up to RM60,000 – whichever is lower. The payments will be staggered across six months, and you could receive a maximum of RM10,000 for your first payout.
| Account 1 balance | Maximum withdrawal amount | First month payment |
| RM100,101 | RM10,000 | RM10,000 |
| RM500,000 | RM50,000 | RM10,000 |
| RM800,000 | RM60,000 | RM10,000 |
How to apply for i-Sinar?
Read more about the application procedure here.
How to check your i-Sinar application status online?
You can check your application status via i-Sinar official website on the “Semak Status Permohonan” (Check Application Status) webpage. Just key in your IC number and mobile number, then click “Semak Status” (Check Status).
If your application has not been approved, the following page will show “Permohonan Anda Sedang Diproses” (Your application is still in process).
Understand your financial situation before applying for i-Sinar
The i-Sinar facility can be useful for those who have lost their jobs, suffered from pay cuts and do not have sufficient funds to sustain their financial lives. Keep in mind that EPF is a scheme that provides monetary benefits to salaried employees after retirement. Therefore, the savings are initially meant to be withdrawn when members have reached the age of 55.
You should only utilise the savings for urgent basic needs. Before applying, check your current financial needs and try to look for other alternatives (if there’s any). Having a proper retirement strategy is a crucial step in helping you live a less stressful future in your older days.
If you need some help in making a decision, we suggest you check out this piece we did on the pros and cons of withdrawing your EPF money under the i-Sinar facility.
Related: MCO 2.0 Survival Guide: How To Be Better Prepared This Time
i-Sinar FAQs
The interim payment is the amount paid in advance to the Category 2 applicants while their applications are still in progress. Members must self-declare on their i-Sinar application that they have experienced a 30% and above income reduction. The declaration must be attached with supporting documents.
Applicants for the i-Sinar facility under Category 2 will receive an interim payment of up to RM1,000 from the total amount applied.
The interim payment will be made starting January 26, 2021. For members who have just applied for i-Sinar under Category 2, this interim payment will be paid within seven days from the date of application.
Latest update by KWSP (as of February 18): The interim payment of RM1,000 implemented in January 2021 will be effectively stopped.
An interim payment helps ease the financial burden and urgent needs of members, especially those affected by the COVID-19 pandemic and natural disasters in several states. If the self-declaration made in the application is false and is not supported by valid documents to prove a reduction in income, the applicant will stop receiving the payment.
Interim payment will be made via direct credit to the member’s bank account.
Applicants for the i-Sinar facility under Category 2 will receive an interim payment of up to RM1,000 from the total amount applied (subject to the savings balance in Account 1).
Here’s an example to better illustrate the interim payment:
a) Amina’s situation
She wants to make a withdrawal application of up to RM10,000* and chooses RM5,000 as the first payment. The payment for Amina’s application is scheduled as follows:
| Interim payment amount | RM1,000 |
| 1st payment | RM4,000 |
| 2nd payment | RM1,000 |
| 3rd payment | RM1,000 |
| 4th payment | RM1,000 |
| 5th payment | RM1,000 |
| 6th payment | RM1,000 |
| Total payment | RM10,000* |
* Subject to the savings balance in Account 1
b) Danial’s situation
He only has RM800 in his Account 1 and wants to withdraw RM700. The payment for Danial is scheduled as follows:
| Interim payment amount | RM1,000 |
| 1st payment | – |
| Total payment | RM700* |
* Subject to the savings balance in Account 1 and members are required to leave a remaining balance of at least RM100 in Account 1 to continue enjoying benefits as EPF members.
a) Pay slip BEFORE overall income reduction;
Highest income within the last 12 months before the date of application (salary, fixed allowance, overtime allowance, other allowance, excluding bonus).
AND
b) Pay slip AFTER overall income reduction;
Current month or previous month income (salary, fixed allowance, overtime allowance, other allowance, excluding bonus).
OR
c) Other supporting documents to prove a reduction in income such as bank statements.
You must submit your i-Sinar application by June 30, 2021.
Yes. Even if you are receiving monthly payments from i-Lestari, you can still apply for the i-Sinar facility.
Read More
Laptops Below RM1,550 For Your Kids’ Online School Sessions
- By CompareHero.my
- February 18, 2021
Buying a laptop for your kids is now more important than ever, with many children having to study remotely while schools are closed. However, can you get a good PC without breaking the bank? We’ve found some great bargains for you. Read on to find out!
For most kids around Malaysia, the COVID-19 pandemic has turned their daily routines into a rollercoaster ride of unpredictability – filled with school closures and reopenings.
According to The Edge Markets, the first Movement Control Order (MCO), which was implemented on March 18, 2020, led to the closure of all pre-schools, government and private schools including daily schools, residential schools, international schools, tahfiz centres and other primary, secondary and pre-university institutions as well as colleges and institutions of higher learning.
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Back to school in mid-2020…
The same report also revealed that when the daily COVID-19 cases dropped around the middle of the last year, secondary schools reopened their doors on June 24 for students sitting for their Sijil Pelajaran Malaysia (SPM), Sijil Tinggi Persekolahan Malaysia (STPM) and other equivalent examinations.
Form One to Form Four and Remove Class students, as well as Standard Five and Six pupils, returned to school from July 15 onwards, while Standard One to Four pupils resumed their studies on July 22.
Then we experienced a spike in COVID-19 cases from late September 2020, and the schools were closed again on November 9 until the end of the 2020 academic calendar year.
Related: MCO 2.0 Extended in Selangor, KL, Johor and Penang Until March 4
… and home again by 2021
In 2021, MCO 2.0 was implemented on January 13 for Penang, Selangor, KL, Putrajaya, Labuan, Melaka, Johor and Sabah, and then extended until March 4 (for Selangor, KL, Johor and Penang). The other states have also been placed under various stages of the Conditional Movement Control Order (CMCO) or the Recovery Movement Control Order (RMCO).
With the recent developments in our saga to contain the pandemic, students have continued to stay and study at home. (According to the latest SOPs for states under MCO, only students who will be sitting for the delayed SPM are allowed to attend school).
Related: 9 Enrichment Classes In Klang Valley: How Much Do They Cost?
Rise of online learning
For students, staying at home isn’t all about playing video games and bingeing on TV shows. You still have to catch up with the latest Mathematical equations, learn new tatabahasa and improve your grammar, as well as master Science, Geography and History. (Trust us, when the pandemic is finally contained someday, being left behind in terms of education can negatively affect your dream of attending university and pursuing successful, fulfilling careers like becoming the next Elon Musk or building a new Alibaba empire.)
Thus, since the first MCO, the Ministry of Education (MOE) has provided various teaching and learning platforms (such as the Digital Educational Learning Initiative Malaysia (DELIMa) and guidelines for teachers, parents and students.
This platform provides teaching and learning links to Google Classroom and Microsoft Teams, digital textbooks, videos (EduwebTV/CikgooTube), as well as additional tools such as Edpuzzle (an interactive teaching application via video), Quizizz (quiz game) and Kahoot (game-based learning platform).
According to Mashable Southeast Asia, Prime Minister Tan Sri Muhyiddin Yassin also launched the DidikTV channel yesterday. Available on Okey TV RTM, Astro TV Tutor, and DidikTV @ ntv7, this is an education channel that broadcasts home-based teaching and learning content based on Malaysian school curriculum.
Related: Your Child Will Thank You For This – 9 Financial Moves Every Parent Should Make
What your child needs for a conducive learning environment
So students now have access to a wider range of educational content from the comfort of their homes. However, in order to make the most out of online learning, your child will need a laptop.
Equipped with a web camera so your kids can better interact with their teachers and fellow students, laptops can provide your children with a conducive virtual learning environment. But wait, before you dig deep into your wallets, you should know that your kids do not need the latest laptop with top-of-the-line specs to continue their studies from home. In fact, you can buy a solid, reliable laptop for below RM1,550 these days.
We have searched high and low through every nook and cranny of the internet to bring you this enticing selection of budget-friendly yet amazing laptops:
Lenovo Chromebook N22 (refurbished)
Priced at only RM449, the super affordable Lenovo Chromebook N22 is ideal for online research and writing karangan. (Image source: Lenovo)
From RM449
Click here to buy
- 11.6-inch touchscreen
- Intel Braswell N3170 Processor
- Chrome OS
- Integrated graphics
- 4GB RAM
- 16GB Solid State Drive
YES: Super affordable! Touchscreen! Save your school work in the cloud (Google Drive). For assignments, you can use Google Workspace or a free browser-based version of MS Office.
BUT: Can’t install full versions of MS 365 apps. Other apps have limited functionality when you’re offline.
Related: The Cost of Raising A Child In Malaysia
Lenovo IdeaPad Flex 3i (11) (NEW)
At RM1,349, the Lenovo IdeaPad Flex 3i enables you to multitask without any performance slowdown. (Image source: Lenovo)
From RM1,349
Click here to buy
- 11.6-inch screen
- Intel Celeron N4020 Processor
- Windows 10 Home (64-bit)
- Integrated graphics
- 4GB RAM
- 64GB Hard Disk Drive
YES: Solid enough for schoolwork (won’t pancit when you use more than one programme at a time).
BUT: Screen and hard disk are a bit tiny.
Acer Aspire 3 A315-32-C6SE (NEW)
Costing RM1,499, this Acer Aspire 3 comes with a 15.6-inch screen and spacious hard drive. (Image source: Acer)
RM1,499
Click here to buy
- 15.6-inch screen
- Intel Core™ i3-8130U 2.2GHz Dual-core
- Windows 10 Home (64-bit)
- Integrated graphics
- 4GB RAM
- 500GB Hard Disk Drive
YES: 15.6-inch screen for a RM1.5k laptop! Larger hard disk space.
BUT: Hard disk is slower than the newer solid state drive.
Dell Inspiron 15 3505 (NEW)
The Dell Inspiron 15 3505 offers a spacious, speedy solid state drive for a faster access to all your files and it costs only RM1,549. (Image source: Dell)
From RM1,549
Click here to buy
- 15.6-inch screen
- AMD Athlon Silver 3050U Mobile Processor with Radeon™ Graphics
- Windows 10 Home (64-bit)
- Integrated graphics with AMD APU
- 4GB RAM
- 256GB Solid State Drive
YES: Spacious, speedy solid state drive to store your school assignments.
BUT: Pricier than the previous laptops.
