Sm Magazine January 2016

Magazine January 2016

magazine

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January 2016

Back To School Edition

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Magazine January 2016

From all of us at savemoney

Magazine January 2016

Budget

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Travel

School

Contents 5

• How to Fail-Proof Your Resolutions For the New Year

Publisher

Saving Plus Sdn. Bhd. Redberry City, Lot 2A, Jalan 13/2, 46200 Petaling Jaya Selangor D.E., Malaysia.

• How Some Resolutions Could Make You Broke • A Look Back at Malaysia’s Biggest Money News in 2015

Editorial

Diana Chai Austin Victor Gavin Pereira Ahmad Mudhakkir Winnie Wu

• How to Know If You Need a New Budget For 2016?

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Advertising

• 10 Childhood Games 90s School Kids Will Never Forget!

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Emylia Anwar Lucas Ooi Damien Ngai Fikri Kamarudin For more information on products and services, please feel free to contact us.

• Click www.savemoney.my © Copyright. Saving Plus Sdn. Bhd. (Company 1081989-D) 2014.

All right reserved.

SM BACK TO SCHOOL EDITION • How Much Did it Cost to Send Your Child to School This Year?

Design

Komalah Sithamparam Tag Teoh Sreenavin Sreedhran

FINANCE

LIFESYTLE • Things You Didn’t Know You Can Do With Your Old Smart Devices • Expenses to Prepare For When Moving Into a New Home

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SAVEMONEY TRAVELLER • 5 Things Every Traveller Needs in His Backpack

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SAVEMONEY TOP PRODUCT TABLES

Editor’s Note Its the dawn of the New Year (well, we’re a good fortnight through) and most of us are already anticipating all sorts in its fold especially with matters revolving around family, work, love life, and of course finances.

We at SaveMoney happen to have our way with money and are just as amped about the New Year as you are. In this month’s issue we discuss the common resolutions and how to fail-proof them as most can impact finances.

Also, we talk about the costs of school enrollment for parents new to the phase and how much change has unfolded from the past years. Be sure to check out our nostalgic piece on what 90s Malaysian kids used to do for fun on the cheap – all without technology!

We sure do hope that all your New Year’s resolutions are met successfully and that 2016 brings out the best through whatever challenges thrown your way. Best of luck and Happy New Year, guys!

XOXO, Austin Victor

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Magazine January 2016

How to Fail-Proof Your Resolutions For the New Year Resolutions are historically prone to fail. Admit it. Fitness executives will be the first to tell you that traffic at gyms pick up typically in January when everyone is in a frenzy to ‘get fit for the new year’ only to taper off in March when they’ve fallen off the bandwagon… and landed on a donut.

But is that really destined to be you? You don’t have to be the object of every gym instructors repertoire of failure statistics. We’ve got the ways you can not only fail-proof your resolutions; you can save money in the process (cause that’s ultimately what we’re about).

By Diana Chai

Plan Well and Realistically The thing that trips up a resolution more than anything else is the failure to plan realistically. Think about your resolution goal and the timeline you’ve given yourself considering the backdrop of factors that come into play before you decide this absolutely can be done.

Whilst it’s nice and motivating to think we can achieve anything - thinking and doing are often so different things, you only realise this when you’ve completely busted your goal to a point of no return.

For example, if the plan is to save money, come up with a realistic plan based on your income and expenses. How much can you logically save? It’s counter-productive to say “I am going to save RM10,000 in six months” if you earn RM3,500 and have only RM500 left after you’ve paid all your bills and commitments.

Realistic planning doesn’t just make a goal achievable; it adds to the motivation when you hit milestone after milestone as you go along.

Magazine January 2016

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Spend Money on Your Resolutions Sparingly Perhaps your goal is to get fit so you not only splurge on premium allaccess pass gym membership; you go out and buy the most expensive exercise gear you can find.

Whilst you might think the expenditure will spur you to succeed - as many resolute new year revellers before you - you will find this isn’t always the case. Failing at resolutions is real and can happen as early as a week into January!

If of course you do manage to keep the spirit going; great, but if you don’t, you won’t only be in the same unfit shape you were before - your finances will be equally in the doldrums.

Aim to spend money on your goal slowly and in a piecemeal fashion to not only reduce costs but to motivate yourself to keep going. Perhaps you could sign up with a lower end, no-frills gym or even resolve to jog at the park for free. Once you’ve hit fitness milestones, you can reward yourself with expensive gear or that membership you’ve been eyeing.

Give Yourself a Plan B Ok, so you said you will try something new and spontaneous every month in 2016 and it’s February but the most exciting thing you did out of routine is to go across the road for lunch instead of staying in the office compound.

Sometimes, failure can be unintentional and you really do want this to work - what will you do? Remember that planning phase we mentioned? Yup, incorporate a Plan B. Okay, so maybe you didn’t go sky-diving. Is there something else out of the ordinary you can do quickly and easily to make up for it? How about volunteering at a soup kitchen or animal shelter as your ‘punishment’ for failing at your goal? You will certainly be on the receiving end of a new experience and you’ll be doing something awesome for your fellow man (or cat) too.

But what if your resolution was a mite more complicated?

Perhaps you resolved to save enough for a home by the end of 2016. Fast forward to October, and you find you still are short of the required savings by 30%. Pat yourself on the back for getting the 70% in the first place and see if anything can be done to either help you achieve your goal (choose a different house or housing project/area) or push you to complete it even if at a later date.

Give Credit Where it’s Due Even if you did not manage to complete your goal to perfection or if course correction was required along the way; give credit for the accomplishments you did manage.

Breaking resolutions are much more common than keeping them so if you did accomplish even a portion of the year/target - good on you.

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Magazine January 2016

How Some Resolutions Could Make You Broke Kicking off the New Year with a clean financial slate is great, but breaking resolutions that involve big or small money just isn’t and can end up costing you more than you bargained.

Let’s take a look at some of the more popular New Year resolutions that may take a huge swipe at your finances from wastage if not taken seriously!

By Austin Victor

Getting into Shape

Make More Money!

This resolution popularly involves the gym and is arguably the toughest out of the entire lot but we totally understand why because it demands a great deal of mental and physical commitment.

Money makes money, they say. Unfortunately, ill intention scavengers roam our planet and prey on those looking to simply make healthy money outside of their monthly income in the New Year.

Don’t know if you realise but it does certainly claim quite a sum from you in gym membership fees that can cost anything between RM160 – RM250 monthly in Kuala Lumpur.

Most people are ensnared by the possibility of making more than what they expect and are scammed into losing all that they have invested.

These sign ups also consist of pretty pricey administrations fees and deposit that could all go to waste if you hang up the gym shoes quicker than you picked them up over the fold of the year.

Try sniffing out free daily admission vouchers or simply pay per entry to gauge if it is something you could commit to long term. These pay per entry passes may cost a little more for now, but it would certainly do you good in the long run.

If you find the gym something a little difficult to commit to, run around the neighbourhood park or build your own gym at home by getting equipment bit by bit – they’re heaps cheaper and you don’t have closing hours to abide to!

Kicking the Habit

Get-rich quick schemes and such may look appealing at first but are more than likely out to get you than to make money for you. That said, nothing beats professional advice.

Make a stop at your nearest bank of choice and speak to a financial advisor about matters concerning banking products like unit trusts or fixed deposits – totally legal ways to help you achieve your resolution of making more money.

Alternatively, fork out a little money and speak to an independent financial advisor about investments you have in mind. We’re sure they’re more than able to provide credible advice despite costing quite a sum at the beginning – but trust us when we say, it’ll all be worth it at the end.

We’re not talking about the regular quit smoking or social media habit related resolutions because they actually get to slash a tonne of costs. We’re talking about habits like shopping for instance.

A Great Resolution is a Prudent One!

It is a problem many face, but we understand why spending money can be therapeutic.

Some are able to kick the money-sucking habit right away while others simply replace them with equally pricey ones like travelling.

Resolutions were coined to improve one’s self, not to destroy what he has built.

Be very careful how you go about them, especially if it involves money – no matter big or small!

Sure you may be able to start fresh and positive with another habit and learn to regulate spending better but what if it doesn’t pan out the way you imagined? And we all know that travelling is a far cry from being the cheapest stand-in habit by any means!

Always trot forward in moderation, try scaling back on entities within your control. Take spending cash abroad for instance, remember to exchange less than what you want – sticking to what you need. To identify what these needs are, draw up a travel itinerary and only budget for the necessities.

Shopping abroad is definitely out of the list and that way you get to kick the old habit for a new one which you would have successfully turned positive. Don’t forget your travel credit cards though, they get huge rewards for overseas spend – talk about having bang for your buck!

The objective of this resolution is to kick the habit, but we all know how difficult that is. If you do manage to go cold turkey, kudos to you. But for those who need replacements, remember to not falter because it just might cost you more than the initial problem!

Magazine January 2016

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A Look Back at Malaysia’s Biggest Money News in 2015 Hands down, 2015 has to be one of the more eventful and riveting years in recent Malaysian history.

From politics to the rakyat’s basic survival, all have been hashed out in the public arena, drawing mixed responses from key divides of society.

Today, we hop on a little time capsule and take a look back at some of the most compelling events that have taken the spotlight in the year gone by.

By Austin Victor

The Goods and Services Tax (GST)

Toll and Public Transport Price Hikes

It was in talks for a couple of years before being implemented on April Fool’s last year but its effects are anything but a practical joke.

These hikes in tolls and public transportation fares couldn’t have come at a worse time to impale the pockets of Malaysians all across the country.

The Goods and Services Tax (GST) is a multi-tiered taxation system that imposes a 6% charge on all levels of the production chain – from manufacturer right up to the consumer.

First, the toll hikes across major highways in the country rolled out and caused uproar from the public. Toll concessionaires say that the impending hikes were a staple every five years, just that the government has been subsidising up to half a billion Ringgit every year to reduce the pinch.

It replaced the Sales and Service Tax (SST) and promised a more transparent form of taxation and revenue for the government but ultimately spiked the prices of goods and services the land over.

With the government retracting toll subsidies, concessionaires have come out defending the hikes as a pivotal implementation in highway maintenance, where costs to upkeep have also skyrocketed.

Having collected billions in revenue from its maiden half year, the government understood the plight of Malaysians in a tumultuous year and reacted by exempting a list of items in the Budget 2016 tabling.

As if that was not a cumbersome event, public transportation like LRT, KTM and ERL also jumped on the bandwagon of hikes, also stating that it was something the people had to be prepared for since the last hike took place more than a decade ago.

Although, the price of most household essentials and services around the country remained unchanged, the rakyat can certainly claim ownership over billions in transparent tax money and hope for more effective subsidies in 2016.

It seems as though commuters have no escape route from these hikes as most options have been depleted, especially when most of us get locked in standstill traffic in congested roads and fuel burns a whole lot quicker.

The Free Falling Ringgit The last time we saw the Ringgit perform its worse was way back in 1998 where it looked as though our currency was battered unforgivingly.

Much of which was the effect of the Asian Financial Crisis but in recent times, the Ringgit again slumped to worrying levels due to volatile global oil prices. The cost to imported goods were no longer cheap and prices began to poke the roof on top of the GST which was only recently introduced then.

The national currency saw some form of stability at the back end of the calendar year of 2015 but remained inconsistent in the fold of the new year.

Travelling abroad has now become a privilege and is something all Malaysians have to put serious thought into if considered, even to our once equal neighbours Singapore. Although wanderlust is the least of anyone’s concern, a multitude of local businesses suffer unmanageable losses and are finding it difficult to get up from the fall.

Let’s hope that through these hikes, all services and quality from here on improve for the sake of our convenience and to put our nation back on the world map for all the right reasons.

Could You Survive 2016?

If we had a magical crystal ball of foresight, we would certainly let you know how the brand new 2016 is going to pan out – unfortunately we don’t. But we can hazard a bit of a guess.

From observation and to the government’s credit, some alleviation was provided in the Budget 2016 tabling in the form of tax relief, BR1M, education and housing just to name a few – but are they effective in picking up the people’s drooping spending power amongst other plights?

By and large if we cannot expect prices to fall, then perhaps the onus is on us to help ourselves as best we can. One of the many things you can do is to make the most of free resources (such as our magazine!) to help you get more for your money and live the best you can even if on a leaner budget.

We’re in this together, Malaysians.

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Magazine January 2016

How to Know If You Need a New Budget For 2016 A fresh new year is a chance to start over. It’s the best time to pick up new habits, commit to a new set of resolutions, or start a new hobby. But does your budget also have to be a new one?

There are quite a few factors to include when deciding whether or not your budget needs a refresh.

To help you figure that out, we’ve listed down the important questions to ask yourself before pulling out your ledger book.

By Ahmad Mudhakkir bin Zainal

Did You Meet Your Goals?

Since a budget is how you dictate how much you spend and save, it makes sense that your savings should amount to a set figure. Or maybe your budget for last year was made specifically so you can save up to a certain number. Ask yourself whether or not you ended up with how much you predicted you would to see if your budget goals were met.

If you missed your goals by quite a lot, it might mean that your goal is larger than expected or that it takes longer than you thought. With this new insight you can restructure you budget for the new year to allocate for leakages and help reach your goals in a more realistic time frame and manner.

Did You Stick with it Throughout the Year?

Perhaps one reason you missed your goals was because you couldn’t stick to your budget.

But not sticking to your budget itself is good enough reason to redo your budget.

It might be because the rules you set out for yourself aren’t compatible with your values or lifestyle… or even your income!

Say you’ve met your savings goal by not spending too much on birthday gifts but you feel bad about it. You then ended up spending more for the birthday party, but then recovering the money you lost by not going on vacation.

This signals that the budget you planned for yourself isn’t really working in the best way.

Adjusting your budget should also mean being able to happily enjoy what you spend on when you do spend on things. There are other things more important than money after all.

Magazine January 2016

Do You Have New Expense Categories Coming Up This Year?

There’s a difference between new expenses (which you’ll always have) and new expense categories. Think about any new big-ticket purchases coming up for you in the new year.

Maybe you just bought a car or plan to in the early months of 2016; or maybe your baby is due. Now you have new expense categories in addition to food, rent, and emergencies: baby, and car.

Each category of course carries with them their own expenses like oil changes, diapers, day-care, maintenance, and so on.

In these cases, your budget definitely needs an update. Don’t wait until the expenses start gushing in to allocate for them.

Saving up early for upcoming expenditures can help cushion the hit you’ll be taking when these new columns in your ledger pop up. A good tip is to budget as if you’re already paying for these expenses a few months before you have to, which will help you get accustomed to your new spending rhythms.

Did Your Goals Change From Last Year to This Year?

Plenty of things can happen in a year. You may have a new career opportunity, your field of industry might be heavily disrupted, or some unexpected medical expenses might come up. All these can drastically affect your budget goals for the coming year.

Take the time to weigh what last year gave you versus what you want or expect from the new year. You might just see that your goals from 2015 aren’t directly transferable for 2016. In this case, a budget revision with new goals is what you need.

Managing finances is a day-to-day thing every one of us should be vigilant with, and preparing a yearly budget helps us do so in the best way. Doing it early on in the year will also make the budget more effective since we can prepare and put the budget into effect before harsh times come… if they do.

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Magazine January 2016

How Much Does it Cost to Send Your Child to School This Year?

A lot has already been said about the costs of having school-going children in all the Malaysian newspapers but we wouldn’t be Savemoney if we didn’t talk about it as well.

It has been said that costs are skyrocketing and parents are having a harder time than ever making ends meet. We made a compilation of the most common costs incurred by parents of school-going children this year to see just how much it costs to send a child to school.

By Diana Chai

School Books Ever since 2008, the Ministry of Education opened the textbook loan scheme to ALL students regardless of socio-economic status. Previously, these textbooks were only provided for those whose parents fell within the lower income group.

With the core textbooks being provided to students from the school itself, most only need to purchase workbooks, exercise books and textbooks from special elective subjects.

Workbooks cost anywhere between RM5.90 - RM20 depending on the publisher. If you were to purchase an average of 7 workbooks for approximately RM10 each; you’d pay RM70 per year on workbooks.

Exercise books cost RM0.70 per book and it’s usually safe to have at least 20 books to replace finished books or to use when one is being marked by the teacher. This will cost a total of RM14.

Total costs: RM84

School Uniforms

If your child has not grown much or caused too much wear and damage to their older set; you may not need to replace their uniforms every year. But if you did, it would appear that uniform costs are steadily increasing.

A quick check at a nearby supermarket gave us the following price points.

Looking at the table, the full price per set for each child will range from RM47.40 - RM71.40 for girls, and RM54.40 - RM71 for boys. Depending on how many children you have, this could easily go from ‘affordable’ to ‘fortune’ in a fell swoop.

Total costs: RM47.40 - RM54.40 min.

Item

Price

Girl’s shirt

RM17.50

Girl’s Pinafore (primary)

RM29.90

Girl’s Pinafore (secondary)

RM39.90

Boy’s shirt (long sleeve)

RM33.50

Boy’s shirt (short sleeve)

RM29.50

Boy’s Trousers (primary)

RM32.90

Boy’s Trousers (secondary)

RM37.50

Baju Melayu (top)

RM30.50

Baju Melayu (bottom)|

RM23.90

Baju Kurung (top)|

RM32.50

Baju Kurung (bottom)

RM38.90

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Miscellaneous Costs Uniforms and books are the most important things a schooling child needs but there are other items as well. You can’t expect a child to not wear any shoes or carry their books in their hands, for example!

Shoes range in cost from RM19.90 - RM42 depending on the brand, size and quality of the shoe in question. Your child can probably get by on an RM32.90 shoe for most of his schooling years (shoes on the lower end of the price scale are usually for smaller children).

A school bag these days can be much more expensive - costing anywhere between RM69.90 - RM149.90 and it will depend on the brand and construction of the bag.

There are also socks to buy, which cost an average of RM7.90 per pair and your child will need a water tumbler and food container as well. All in all, expect to see the costs burgeoning to RM150 on average for all the extras.

Total costs: Approximately RM150. Numbers vary depending on selection of items.

School Fees Those in public schools don’t usually need to pay fees to the government but it is not uncommon to find you will still have to pay nominal amounts per year for the school’s individual funds. For instance, many schools charge RM100 as PIBG fees (Parent Teacher Association) and RM30 for cleaning/lavatory fees.

Different schools may have different fees including but not limited to; computer fees (for them to equip computer labs with the latest equipment), sports fees, extra-curricular activity fees (per activity), just to name a few.

Everything in Between We’ve covered some of the most important costs but it doesn’t mean that’s all. If your child is part of a uniformed body at school or a club (and we hear it is now compulsory for students to join at least 3 clubs!), they would probably have to buy the uniforms and other paraphernalia required.

From this list we can see that sending a child to school is certainly no cheap feat! The issue is compounded when a couple has more than one child and needs to multiply all the above costs!

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Magazine January 2016

10 Childhood Games 90s School Kids Will Never Forget!

By Austin Victor

Looking at school busses line up the streets whilst on the way to work or college early in the year never fails to time warp most of us back to our own days in little white uniforms, ties and pinafores.

The sound of recess bells and national anthem chanting at the weekly perhimpunan will never change, however most would agree that 90s and early 2000s school kids had more fun compared to kids these days.

No, we didn’t need an iPad, iPhone, Instagram or Facebook to enjoy our childhood to the fullest. All we ever had are the legendary items and games that follow and please don’t hold back if you feel a tear jerk!

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Marbles or Guli

The game kicks off with the drawing of a circle or square in sand and all players commit their respective marbles in the main loot while the one in hand is perceived to have better accuracy.

Once the player’s loot contribution is knocked out of the line with the one in hand by throwing it directly at them, he goes for the others within the bounds. The one who walks around with the largest collection of guli boasts the loudest bragging rights!

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Batu Seremban

A popular game amongst the young ladies, Batu Seremban (or 5 Stones in English!) is a hit even for boys during teacher change for period intermission in classes or even recess hours!

These 5 tiny blobs were typically made of rice grains or beans and wrapped up in old cloth sewn to seal. A true test of hand-eye coordination; the girls are no walk-overs in the game where one little packet is heaved into the air and the rest have to be scooped up from below. It’s no wonder girls have awesome multitasking skills!

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Pencil Eraser

One minute you’re figuring out what 2 x 3 is in Math class and the next you’re a warrior representing the flag printed on these little pencil erasers – or better known as ‘rubber’.

Usually a two-player game but more are welcome. Players make each move by pressing down on the erasers’ edges with their fingertips with hopes to land on their opponents and the winner takes all the erasers that he steps on!

Magazine January 2016

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Pokemon Cards

A little expensive to play but the thrill of trading and battling cards have broken and forged friendships that will go on forever – longer than the length of the series on television, we can assure you.

Some take their water, fire, leaf, and psychic decks seriously while others just find joy in trading with those who need a certain kind, but make no mistake about the skill and calculated strategy required to sink your opponent to shame!

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Lompat Getah

Lompat getah (jump rope) is another one popular amongst school girls and it challenges one to jump over a rubber band woven rope from different heights as the game progresses.

Mostly played in school compounds with larger areas to manoeuvre, lompat getah was built for the agile female body but the guys wouldn’t mind giving the girls a run for their money every once in awhile.

Funny how most of the items above were confiscated in school but these were somehow allowed. Girls get away with everything, I tell you!

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Bottle Caps

This is as fast as it gets when you feel the need for speed at our age, that’s when the Tamiya cars became a big hit. Kids would usually have to go to malls to battle it out on official tracks and that meant more was at stake.

Another popular game due to the quick manner in which it progresses, the ‘5 bottle caps’ challenge was a hit amongst 90s school kids.

In many ways, these cars were a miniature version of a race car except you weren’t behind the wheel. From engine to body modifications, the Tamiya will forever be remembered no matter if they were stock or souped up!

The first part would be gently tossing all five into the air and have them land on the back of your palm. Catching them again in mid-air was the biggest challenge and this was important to see who goes first in a level called ‘timbang’.

This leads to the other part of the game where precision is needed to flick the caps against selected ones and points are scored here.

6.

Galah Panjang

The true meaning behind this coined term remains cloudy to most of us, but the rush from carefully strategised moves in this team game is pretty intense!

Tamiya

10.

Pepsi Cola

Widely popular across the country, Pepsi Cola crept into the hearts of Malaysians since the late 80s and has been ruining white Bata shoes ever since!

Players would get into a formation and sing out ‘Pepsi Cola’ in an attempt to take a swipe at another player’s foot with swift kicks. Some school prefects dared to step in with black shoes but it certainly takes a brave soul to play with white shoes on!

Two participating teams, one consisting of runners and the other line defenders are pit against each other. The running team would have to avoid contact with line defenders who are only allowed to defend in a horizontal line and make it back to where they first started to win!

Beware of those with long arms and that’s probably where the term panjang came from too!

7.

Digimon

Conceptualised right after the tamagochi pet craze, owning a Digimon device would mean that you were part of the cooler crowd and you most probably were also the envy of many.

Also a little pricey, players engage in a 1-to-1 digital battle with their pets that yield individual super powers. Some players risk killing their digital warriors and therefore feed them loads to keep healthy before a battle – well at least that’s what we used to think.

Missing School Already?

It was every kids dream to own one of these as well as the improved versions that soon followed which turned out to be too expensive for some to afford, but it still snatches a spot on our list!

Yes, much has changed since we were in school. Most of us barely understood the value of money way back when and we only used it buy lunch during recess or junk food outside school.

Though there are many more games that were left out from this list, they most certainly have shaped us in ways unimaginable – and all for the price of hardly a fragment of the cost of smart devices kids use these days!

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Magazine January 2016

Things You Didn’t Know You Can Do With Your Old Smart Devices

By Ahmad Mudhakkir bin Zainal

Did you get shiny new gadgets for Christmas? Or maybe you used the end-of-year holidays to balik kampung and you gifted your loved ones with the latest upgrades to their dying old devices?

Whichever the case, what you have in your hands now is a number of ancient gear you don’t know what to do with.

Just like any other unwanted technology, you can always recycle them, donate them, or sell them (though you won’t get even a fraction of its purchase price thanks to the speed that technology is advancing). But smart devices like tablets, iPhones, and Android phones, due to the advanced tech embedded in them, present a different set of opportunities for you to repurpose them and give them a new lease on life. Here are some way cool things you can do with your obsolete smart devices you probably didn’t know you could.

Children’s Toy

Alarm Clock

The tech in a three-year-old device may not be up-to-date enough for you, but it’s perfect for a three-year-old. Just remember to set up the Guided Access (for iOS) or a Restricted Profile (for Android) for the child before passing it on to them. These two features lock the device so the kid can only access a restricted number of apps, preventing them from accidentally messing up the device while making it super simple for them to use as well.

Sure, you can use your phone as one, but why waste the battery for that? Leave your phone off and charge it overnight then use an older device as a dedicated alarm clock. There’s no shortage of cool alarm clock apps on both Android and iOS you can install on your device to make it a super-powered alarm clock.

Also, don’t forget to wrap the device up in a robust protective casing to shield it from bumps and scratches that would inevitably happen in the hands of rambunctious toddlers.

There are many educational games, books, and apps available for kids to use on both Android and iOS. For children with weak grips or who are still developing their coordination, you can keep them occupied with YouTube Kids, a version of YouTube with kid-friendly content.

The best thing about using a smart device as an alarm clock is how you can customise the clock face, the alarm noise, and set up unlimited alarms with no trouble at all. All that, plus other dizzying custom options like volume fade, alarm tone randomiser, and many others.

Having an old phone always by your bedstand is also useful if you ever lose your current phone. Just pop your alarm clock in your pocket and you have a spare phone.

Magazine January 2016

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Security Camera Even the oldest smartphones have better cameras than a lot of webcams you can find on the market right now. So using an old device as a security camera should be a no-brainer. Just like our alarm clock suggestion, there are plenty of apps available that can turn your device (both Android and iOS) into a powerful webcam you can use to secure your house or property of choice.

These apps allow you to peek through your smartphone’s camera from a connected computer anywhere you are in relation to your house or property. You can also use this function as a makeshift baby monitor to keep an eye on your little tyke as they play around with your old tablet.

Music Player If your ancient device has a lot of storage space in it still, even though the software is badly outdated, you can use it as a dedicated music player. Just load it up with all your favourite tracks and you’re good to go. You can even leave it in the car connected to the power port and auxiliary audio to play all of your driving music right from your device. No more boring radio ads.

This is also a great idea to use if your device’s screen is all smashed up or your speakers are dead, or both. Since you can just plug in your headphone jack and you won’t need to stare at the screen for long anyway.

Dedicated E-Reader Ah, but what if your device’s screen is in perfect shape but the speakers and headphone jack don’t work anymore? In that case, you can use it as a dedicated e-reader for all your ebooks.

Ebooks typically don’t require too much storage as well so you can carry pretty much your entire book collection without worrying about running out of room in your device’s memory.

Also, you can turn off wireless connectivity on it and use it as a pure, focused reading device without worrying about internet distractions.

Digital Photo Frame This one works best with devices that have really bright displays. What you need to do is get yourself a really nice stand and cover case and then put it somewhere visible in your house or workspace.

Next, install a digital photo frame app (available for both Android and iOS) and enjoy a rotating slideshow of images displayed on your desk.

Of course, since it’s a smart device, you can customise which images show up on rotation, change which images to show at what time of day, and even combine this function with the alarm clock as well as a calendar app for a handy multitasking device you never knew you needed.

Real-time Window to the Outside World This one, like the digital photo frame idea, is more suited to older tablets than phones. What you do is essentially connect the device to a live feed of something happening elsewhere in the world and your device becomes almost a literal window into the goings on of the world.

Install EarthCam on your device (yes, available both on Android and iOS) and look through the different feeds around the world and check out what’s happening from the Abbey Road crossing in London to New York City’s Time Square. You can also find other interesting mobile-friendly live cameras around the web, too. Take a look at the San Diego Zoo’s Panda Cam or SeaWorld’s Penguin Cam if you need a quick fix of adorable animal cuteness.

Smart devices are called so for a good reason. Even the oldest, lamest versions of them are made up of highly sophisticated technology. Just because they’re no longer the hottest thing right now doesn’t mean they’ve outlived their usefulness. As our list shows, they may still have some life in them yet!

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Magazine January 2016

Expenses to Prepare For When Moving Into a New Home

Did you just buy a home? Good for you! Whilst the buying or renting is a great first step – it’s important to remember that it is just that: The first step. Keeping a home requires quite a lot more than a downpayment as you’ll soon find out as King of your own Castle.

There are in fact several things to keep in mind and budget for even after you’ve already purchased your property.

By Ahmad Mudhakkir bin Zainal

Security Expenses Remember those keys you had in hand? Several other people have used those same keys, doors, and locks before you’ve arrived. Even if you bought the house completely brand new and you’re the first person to ever live in the place, it pays to be safe.

Trusted contractors are unlikely to duplicate a key just to break into a freshly moved-in house, but there’s no way to tell whether or not a set of locks are 100% safe unless you purchase a new set yourself.

This extends to the locks for the other entrances in the house as well. Other security measures you may want to also think about are security cameras, window grilles, gates, and alarm systems. Keeping these needs in mind when moving into a new house will help you be prepared for when these expenses come up.

As much as we hate to think about it – landed homes are especially prone to break-ins so a reliable home security system is worth investing in. Alarm systems aren’t cheap to install (RM1,500 - RM3,000 on average depending on home size and number of triggers installed) and some charge an additional subscription fee (RM60 a month and up) but the peace of mind may be worth it.

Fixtures and Fittings Fixtures are essentially electrical appliances in and around your house. Not television sets, washing machines, or refrigerators, though. What we’re referring to is the kind of appliances that are more physically a part of the house.

Water heaters, air-conditioning units, automatic gates, and gas stoves may already be pre-installed in the house you’re moving in and they represent potential expenses as well.

Here is also where expenses towards switches, doorknobs, taps, lamps, and fans come in. These devices, if they’re new, may need some calibrating and some might even not work properly. If they’re old, you have to be mindful of potential repair or upgrade costs.

It’s also smart to include costs for maintenance as well for both new and old fixtures.

Magazine January 2016

17

Cosmetic Upgrades Part of making a house a home is by adding a touch of personality. Personality of course, does not come cheap. Paint, wallpaper, and curtains all add up to quite a sum if not carefully considered.

Take stock of what each room needs and ensure adequate funds are allocated for each one.

Even if your existing decoration from your previous home still fits in with the rest of your house, you may end up with not enough space for them, or too much space or they just may not be the right kind (curtains are made to suit the rails in the house for example, but different rails require different curtains).

Such situations may require you to buy new items or modify what you have to tie everything together, and these expenses need to be added into your budget.

Furniture Did you remember to get chairs? Of course you did. But just as your current decorations may not fit the new house, your old furniture may not match the way your new place is set up. Solving this problem may require purchasing some new furniture for the new space you have.

Then there’s also the possibility of having to repair damaged furniture that you brought from your old place. While that’s not likely to occur if you’ve made the right precautions, accidents can happen. If you’re moving into a house that already has a kitchen cabinet, sofas, or other furniture, you also may have to pay to get them repainted, fixed, or maintained.

Outdoor Maintenance The outside of your house is also an area you need to pay attention to. If you’re fortunate enough to have a lawn or porch right in front of your house, you have to take into account the care and maintenance of that space.

The floor has to be cleaned and maintained, greenery has to be managed well, and the paint has to be of a different kind compared to the ones used indoors.

If you’re planning to park more than just your car there, perhaps a bicycle or some other recreational mode of transport, then you also need to think about sheltering your items from harsh weather. All these are in addition to welcome mats, shoe racks, and umbrella stands.

General Maintenance As with anything, your new home and appliances are not immune to wear and tear damage.

Depending on the quality of the fixtures, fittings and the house itself; you may find yourself with more or less work to do as time passes.

Plumbing, roofing, fortification (for cracks and leaks) and general servicing costs (aircon, electrical appliances) are all the usual money–sucking things you have to be ready for when taking care of your own home.

As you can see, there is more to owning a house than just paying money for it. It’s a responsibility everybody needs to be aware of, and one that carries with it some substantial financial concerns, too.

But with forethought, careful budgeting, and good planning, you’ll be able to manage these expenses with no trouble at all.

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Magazine January 2016

5 Things Every Traveller Needs in His Backpack

By Diana Chai

With the advent of budget airlines - it is true that more Malaysians than ever can fly. If you’re one of those who’ve got the constant travel bug; you’re going to find the five items in this list (in no particular order) super helpful on your trails.

Whether you’re travelling long distance or short; to the tropics or metropolitan cities; you’re going to be glad you had these on hand!

1. A Luggage Weighing Scale Overweight luggage - is there anything more annoying and expensive at the airport?

Sometimes, a small increase will see a kindly counter attendant look the other way but some aren’t so kind and a mere additional KG can set you back some hefty ringgit (exchange rates are an evil thing these days).

Luggage weighing scales are made to be light and easily tucked into the corners of your backpack so it won’t be adding to your baggage bulk. They are also inexpensive - you can pick one up for less than RM30 on Lazada.

2. A Vacuum Seal Storage Bag This is more of a must-have for those who like to shop or if you’re going on a longer trip that requires more clothing. It’s also handy if you’re off to a cold country and need to stuff those puffy winter jackets.

A vacuum seal bag makes the most of the space you have in your luggage.

Even if you end up not needing it - it will be a nice just-in-case item to have if you’ve gone a little overboard on the shopping.

Vacuum bags are also useful for keeping breakables safely and tightly enclosed inside your clothes. Less rattling about your suitcase should prevent a mishap.

Just remember that if you buy your vacuum bag on it’s own (without the handheld vacuum seal pump); you’ll have to ask the hotel you’re staying at for the use of their vacuum.

Get a bag and seal pump for approximately RM120 on Lazada or a vacuum bag on it’s own for less than RM30 on Lelong.

Bonus additional use: you can keep your linens and winter wear in the vacuum bags at home to save on closet space.

Magazine January 2016

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3. Basic Medicines and First Aid Needs It’s probably not difficult to find an aspirin or charcoal tablets (for a tummy ache after all that exotic food!) at a local pharmacy wherever you are but considering you are in a new place and possibly not able to rush to a pharmacy the minute you feel something nasty looming - you’ll be happy to have these simple medicines on hand. It might also be cheaper to bring these from home.

Alongside the medicines, it won’t hurt to pack a few plasters, some antiseptic oil such as tea tree oil and medicated oil/vapor rubs (Malaysians, come on, you know you love your tiger balm, minyak cap kapak and Vicks) that will help you feel better if you are suddenly taken by minor illnesses such as a headache, slight cold or tummy ache.

However, we caution that if you are feeling more than a little under the weather - you endeavour to seek medical attention wherever you are! Oh, and do be sure to declare any medicines and pills you bring onboard a flight.

4. Hidden Travel Wallet or Money Pouch Travel wallets are built to hold your cash, credit cards and passport in one pouch and can often be bought with body straps so they cannot easily be picked from your pocket or bag.

Travel wallets with anti-theft features aren’t expensive either but they will save you a load of hassle from the loss of your valuables when you are travelling.

Always treat your valuable documents and cash with care when travelling. Whilst you can get help from the nearest Malaysian Embassy - it’s a situation you’d rather not have on holiday.

Get a travel wallet with strap for as low as RM9 on Lelong. Different straps and prices are available as well.

5. Luggage Tags or Other Identifiers If you aren’t the type to purchase a bright pink polka dot luggage bag that is sure to stand out on a luggage conveyor at the airport or easily spotted when stolen; a luggage tag is the next best thing.

Luggage tags can come in a myriad of sizes and designs for as low as RM5 on Lelong. However, you can pay a premium RM180 for designer tags if that is your thing. Whatever design you choose; just make sure your tag isn’t easily ripped off in transit.

There are a tonne of DIY ideas for luggage tags available online too but Savemoney advises you to be cautious with paper tags that can easily be ripped when your bag is chucked about by baggage handlers (hey, it shouldn’t happen but the likelihood is that it will - so no harm being safe!). If you are using printables - get them laminated for durability.

Happy, Safe Travels!

Nothing ruins a holiday quite like the little hiccups that can happen with lost valuables, or time consuming inconveniences. Whilst we can’t prevent them all; these 5 items will surely reduce their occurrences to a minimum.

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Magazine January 2016

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Magazine January 2016

groceries, cutting out dining out and shopping just for a month could help you repay the load you spent in December.

From Overspending After the Holidays

Depending on your debt load, it may take a few more months but it's still doable.

But if you haven't don't worry.

Missteps happen and it's never too late to fix!

Here are some ways you can help get your credit card back in it's old fit form: 1. Opt for a balance transfer: if you have an empty credit card; a balance transfer can help you trim the fat off your credit card balance by reducing or removing completely, the interest incurred.

The holiday season just came and went: the vacation has been had; the feast eaten and the malls cleared out by shopping.

But what if the festivities left you with a rather scary looking bank account? Fret not, friends - let us help with our Get-Your-Finances-FitAgain list of easy steps.

Attack All the Debt Ok, breathe. It's time to look at those credit card bills. Holiday spending can really sneak up on you especially in the form of credit card debt as you rush to pay all the utility bills, buy presents and book holidays.

2. Ask your bank if conversion to a term loan is possible: Some banks offer the option of converting your balance to a term loan with lower interest. The lower interest isn't the only selling point the fixed repayments mean you have to be diligent in repaying until your debt is down.

3. Employ the snowball method: The snowball method is simply this - throw every sen you have at your debt. Leftover change from the fast food joint? Use it to pay your debt.

Did your friend finally repay the RM50 he owes you - yup, use it to pay your credit card!

Don't Neglect the Emergency Fund If you came out on the other side of the holidays with your emergency fund intact - we would like to congratulate you. It's no easy feat!

We understand that this can be a tall order to achieve especially when you're trying to pay down debt too! Like, where is all this spare change going to come from anyway? We hear you. It doesn't have to be a monumental amount really. Every little bit helps.

If you don't like carrying coins with you, make the habit of putting them into a dedicated emergency coin box everyday. Or if you think you have spare pocket change from grocery shopping, dump them in there too.

You'll be glad you did. Should an emergency like a car break down or traffic summon that is on the verge of an arrest warrant take place; your little box of petty cash would certainly be there for you to 'Break in Case of Emergency!'

Strap on That Tight Belt This one is hard; we won't lie but try as we might - we can't avoid it.

Unless you've received a super bonus or salary hike for 2016 (which you will still need to save, invest and grow!); a little belt tightening is in order.

We don't mean starve (although some of you might because of your diet resolutions), you could employ other methods of trimming the excess. Opt for generic brand

Extreme Measures Should the above fail because you've gotten just a wee bit in over your head; it's time for more drastic measures.

Take a look at your expenses and liabilities for the coming months.

Can you manage? Is there a way you can consolidate your debt through a consolidation loan or balance transfer?

Should none of the financial institution alternatives work consider roping in the help of professionals. You can either consult a personal finance advisor who can whip your finances back in shape (yes, it will cost you but the cost repays itself through cleaner financials after the ordeal!) or get in touch with AKPK for credit counselling services.

Once Bitten, Twice Shy Once you've cleared the holiday spending aftermath, you'd like to take a breather and maybe treat yourself once again. Absolutely no problem! Just remember not to end up in this financial pit again.

Some of the ways you can do that is to start saving for your festivities and holidays way ahead of time.

You can even do your festive shopping earlier to avoid the last minute barrage of gift bills. Stake out warehouse sales that happen all year round to get even more bang for your buck.

Credit Cards + Personal Loans + Home Loans + Car Loans + Insurance + Internet.

This was brought you by Diana Chai from RinggitPlus.com.

RinggitPlus compares credit cards, personal loans and home loans to help Malaysians get more for their money.

Disclaimer: This article is for information only. Nothing in this article is an endorsement, recommendation or suggestion of any banking, monetary or financial institution, product, service or security, in any form whatsoever. It is not, and shall not be construed as, an offer (that is capable of being accepted) of any credit card, or a solicitation or invitation to purchase or otherwise deal with any credit card issuer. The reader must obtain independent and appropriate financial, legal and other advice before dealing with any credit card issuer. This article does not constitute financial, legal or other advice. The views expressed are the writer's own, and do not reflect or incorporate the views of any entity within the Ascension Lab or Saving Experts Sdn. Bhd entities. Nothing in this article binds or incorporates the views of any Entity, or creates legal relationships between the reader and any Entity.

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Magazine January 2016

Top Product Tables

Finance Top Personal Loans in Malaysia for Government/Government Linked Company Employees (assuming amount borrowed=RM10,000) Tenure: 1 Year Bank

Product Name

Min. Income

Interest Rate

Effective Rate

Monthly Repayment

Interest Paid Over 1 year

Type

Bank Rakyat

Bank Rakyat Pembiayaan Peribadi-i Rakan Pintar

RM1,000

3.27% p.a.

5.98% p.a.

RM861

RM332

Unsecured Islamic Loan

Bank Islam

Bank Islam Flat Rate Personal Financing-i Package

RM2,000

4.99% p.a.

9.09% p.a.

RM875

RM500

Unsecured Islamic Loan

Agrobank

Agrobank AgroCash-i

RM1,000

6.17% p.a.

11.20%p.a.

RM885

RM617

Unsecured Islamic Loan

Alliance Bank

Alliance Bank CashFirst Personal Loan

RM3,000

6.88%p.a.

12.47%p.a.

RM891

RM692

Unsecured Loan

Mach by Hong Leong Bank

Hong Leong Mach IOU Personal Loan

RM2,000

7.00%p.a.

12.68%p.a.

RM892

RM704

Unsecured Loan

Tenure: 3 Years Bank

Product Name

Min. Income

Interest Rate

Effective Rate

Monthly Repayment

Interest Paid Over 3 years

Type

Bank Rakyat

Bank Rakyat Pembiayaan Peribadi-i Rakan Pintar

RM1,000

3.27% p.a.

6.18% p.a.

RM305

RM980

Unsecured Islamic Loan

MBSB

MBSB Personal Financing Mumtaz-i

RM3,000

3.40% p.a.

6.42% p.a.

RM306

RM1,020

Unsecured Islamic Loan

BSN

BSN SKAP

RM2,500

3.90% p.a.

7.33% p.a.

RM310

RM1,170

Unsecured Loan

Ambank Islamic

AmBank Personal Financing-i

RM1,500

4.30% p.a.

8.05%p.a.

RM314

RM1,304

Unsecured Islamic Loan

Bank Islam

Bank Islam Flat Rate Personal Financing-i Package

RM2,000

4.99% p.a.

9.29% p.a.

RM319

RM1,484

Unsecured Islamic Loan

Tenure: 5 Years Bank

Product Name

Min. Income

Interest Rate

Effective Rate

Monthly Repayment

Interest Paid Over 5 years

Type

Bank Rakyat

Bank Rakyat Pembiayaan Peribadi-i Rakan Pintar

RM1,000

3.70% p.a.

6.89%p.a.

RM198

RM1,860

Unsecured Islamic Loan

MBSB

MBSB Personal Financing Mumtaz-i

RM3,000

3.80% p.a.

7.07% p.a.

RM198

RM1,900

Unsecured Islamic Loan

BSN

BSN SKAP

RM2,500

3.90% p.a.

7.24% p.a.

RM199

RM1,950

Unsecured Loan

Ambank Islamic

AmBank Personal Financing-i

RM1,500

4.80% p.a.

8.81%p.a.

RM207

RM2,400

Unsecured Islamic Loan

Bank Islam

Bank Islam Flat Rate Personal Financing-i Package

RM2,000

4.99% p.a.

9.14%p.a.

RM208

RM2,460

Unsecured Islamic Loan

Top Personal Loans in Malaysia for Self Employed/Salaried Employees (assuming amount borrowed=RM10,000) Tenure: 1 Year Bank

Product Name

Min. Income

Interest Rate

Effective Rate

Monthly Repayment

Interest Paid Over 1 year

Type

Bank Rakyat

Bank Rakyat Personal Financing-i Private

RM2,000

6.16%p.a.

11.18%p.a.

RM885

RM616

Unsecured Islamic Loan

Alliance Bank

Alliance Bank CashFirst Personal Loan

RM3,000

6.88%p.a.

12.47%p.a.

RM891

RM688

Unsecured Loan

Mach by Hong Leong Bank

Hong Leong Mach IOU Personal Loan

RM2,000

7.00%p.a.

12.68%p.a.

RM892

RM704

Unsecured Loan

Bank Islam

Bank Islam Personal Cash Line-i

RM1,500

7.85%p.a.

14.19%p.a.

RM899

RM785

Secured Islamic Loan

AmBank

AmBank AmMoney Line

RM2,000

8.00%p.a.

14.45%p.a.

RM900

RM800

Unsecured Loan

Min. Income

Interest Rate

Effective Rate

Monthly Repayment

Interest Paid Over 3 years

Tenure: 3 Years Bank

Product Name

Type

Bank Rakyat

Bank Rakyat Personal Financing-i Private

RM2,000

6.16%p.a.

11.36%p.a.

RM329

RM1,848

Unsecured Islamic Loan

Alliance Bank

Alliance Bank CashFirst Personal Loan

RM3,000

6.88%p.a.

12.62%p.a.

RM335

RM2,064

Unsecured Loan

Hong Leong Bank

Hong Leong Personal Loan

RM2,000

7.00%p.a.

12.83%p.a.

RM336

RM2,100

Unsecured Loan

BSN

BSN Executive-1

RM5,000

7.50%p.a.

13.69%p.a.

RM340

RM2,250

Unsecured Loan

Citibank

Citibank Personal Loan

RM4,000

7.90%p.a.

14.38%p.a.

RM344

RM2,370

Unsecured Loan

Min. Income

Interest Rate

Effective Rate

Monthly Repayment

Interest Paid Over 5 years

Tenure: 5 Years Bank

Product Name

Type

BSN

BSN Executive-1

RM10,000

5.50%p.a.

10.01%p.a.

RM213

RM2,750

Unsecured Loan

Alliance Islamic Bank

Alliance Bank CashVantage Personal Financing-i

RM3,000

6.88%p.a.

12.31%p.a.

RM224

RM3,440

Unsecured Islamic Loan

Bank Rakyat

Bank Rakyat Personal Financing-i Private

RM1,000

6.89%p.a.

12.32%p.a.

RM224

RM3,445

Unsecured Islamic Loan

Hong Leong Bank

Hong Leong Personal Loan

RM2,000

7.00%p.a.

12.50%p.a.

RM225

RM3,500

Unsecured Loan

Citibank

Citibank Personal Loan

RM4,000

7.90%p.a.

13.96%p.a.

RM233

RM3,950

Unsecured Loan Source: SaveMoney.my, Banks (As of 14th January, 2015)

Magazine January 2016

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Top Product Tables Fixed Deposit Top 1-month FD rates in Malaysia Bank Name

Product Name

FD Type

Minimum Deposit

Advertised Interest Rates

Effective Interest Rates

Interest on RM50,000

Depositor’s Insurance?

Affin Islamic Bank

Affin Islamic Term Deposit Plus-i

Standard

RM10,000

3.54%

3.54%

RM148

PIDM

MBSB

MBSB Fixed Deposit for 49'ners Club

Standard

RM1,000

3.40%

3.40%

RM142

MBSB

Bank Rakyat

Bank Rakyat Term Deposit Account-i

Standard

RM5,000

3.40%

3.40%

RM142

DFIA

Bank Islam

Bank Islam Term Deposit-i

Standard

RM1,000

3.30%

3.30%

RM138

PIDM

MBSB

MBSB Conventional Fixed Deposit

Standard

RM1,000

3.30%

3.30%

RM138

MBSB

Top 3-month FD rates in Malaysia Bank Name

Product Name

FD Type

Minimum Deposit

Advertised Interest Rates

Effective Interest Rates

Interest on RM50,000

Depositor’s Insurance?

Maybank

Maybank Fixed Deposit

Step Up

RM25,000

4.50%

4.03%

RM504

PIDM

MBSB

MBSB Junior Term Deposit-i

Standard

RM10,000

3.88%

3.88%

RM485

MBSB

Affin Bank

Affin Bank FD Plus

Standard

RM10,000

3.84%

3.84%

RM480

PIDM

Bank Rakyat

Bank Rakyat Term Deposit Account-i

Standard

RM500

3.70%

3.70%

RM463

DFIA

Maybank Islamic

Maybank Islamic Fixed Deposit-i

Standard

RM5,000

3.25%

3.25%

RM135

PIDM

Top 6-month FD Rates in Malaysia Bank Name

Product Name

FD Type

Minimum Deposit

Advertised Interest Rates

Effective Interest Rates

Interest on RM50,000

Depositor’s Insurance?

Mach by Hong Leong Bank

Mach Fixed Deposit

Standard

RM10,000

4.50%

4.50%

RM1,125

PIDM

Hong Leong Bank

Hong Leong Fixed Deposit

Standard

RM10,000

4.50%

4.50%

RM1,125

PIDM

Alliance Bank

Alliance Bank Fixed Deposit

Standard

RM25,000

4.25%

4.25%

RM1,063

PIDM

MBSB

MBSB Term Deposit-i

Standard

RM10,000

4.08%

4.08%

RM1,020

MBSB

Affin Bank

Affin Bank FD Plus

Standard

RM10,000

3.93%

3.93%

RM983

PIDM

Top 9-month FD rates in Malaysia Bank Name

Product Name

FD Type

Minimum Deposit

Advertised Interest Rates

Effective Interest Rates

Interest on RM50,000

Depositor’s Insurance?

Alliance Bank

Alliance Bank Fixed Deposit

Standard

RM25,000

4.35%

4.35%

RM1,631

PIDM

Maybank Islamic

Maybank Islamic Profit Now! Account-i

Standard

RM10,000

4.22%

4.22%

RM1,583

PIDM

Bank Rakyat

Bank Rakyat Term Deposit Account-i

Standard

RM500

3.95%

3.95%

RM1,481

DFIA

Affin Bank

Affin Bank FD Plus

Standard

RM10,000

3.95%

3.95%

RM1,481

PIDM

BSN

BSN Fixed Deposit Account

Standard

RM15,000

3.80%

3.80%

RM1,425

DFIA

Top 12-month FD rates in Malaysia Bank Name

Product Name

FD Type

Minimum Deposit

Advertised Interest Rates

Effective Interest Rates

Interest on RM50,000

Depositor’s Insurance?

Public Bank

Public Bank Plus Fixed Deposit Account

Step Up

RM20,000

4.50%

4.30%

RM2,150

PIDM

KFH

KFH Junior International Commodity Murabahah Deposit-i

Standard

RM10,000

4.28%

4.28%

RM2,140

PIDM

MBSB

MBSB Term Deposit-i

Standard

RM10,000

4.18%

4.18%

RM2,090

MBSB

Bank Rakyat

Bank Rakyat Term Deposit Account-i

Standard

RM500

4.10%

4.10%

RM2,050

DFIA

Affin Bank

Affin Bank FD Plus

Standard

RM10,000

3.98%

3.98%

RM1,990

PIDM

Source: SaveMoney.my, Banks (As of 14th January, 2016)

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Magazine January 2016