Hi Guys,

I like to have some opinion, the house in my kampung need some makeover with repairing roofing and land uplifting to make it higher ( due to neighbor's waste is leaking over to my "kolam") not sure the budget, but roughly could use up 7-10k

I came across below personal loan

http://www.standardchartered.com.my/person...ans/cashone/en/

I not sure I calculated it right, please show me.

RM10000 loan, (duration 1 year repayment) based on (0.90% per month/ 10.8 per year)= total RM11080

Is it like that?

Hi, im 24. My salary is 7k++ per month. & i dunno any single thing about investment. I dont have any loans except for car loan. Can any one help me? Is there any agency can help?

not advisable to borrow personal loan to renovate house.....

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This post has been edited by changjie83: Aug 7 2011, 08:05 PM

wow whats your occupation?

why you want to wait for someone to teach you how to invest? THAT person will have his/her own opinion... no one knows everything... everyone have their own preferances...

you have to search by yourself...identify which investment for you... with internet...information is abundance.

1) You need to get more information from the bank to work out the effective interest rate and can ask them to show you the calculations (information on their website is not complete). Please take note the phrase: "Enjoy attractive and affordable interest rates from as low as 0.90% per month depending on your loan amount." The lowest possible is around 11.3% p.a. (on a monthly compounded basis) - it's higher than your 10.8% (which is 12 x 0.9%). You also need to know whether the interest rate is calculated upfront or amortized...I know that I sound rather technical but you need to know some finance basics to unravel how banks "disguise" effective interest rates. Anyway, personal unsecured loan is always one of the more expensive forms of financing (like credit card balance financing) offered by banks.

2) As mentioned in a above post - please avoid taking personal loan to renovate. Renovate only if you have the spare cash/$$$ UNLESS the renovation is really important and necessary - if not, you will be burdening yourself unnecessarily.

@ chabalang, I totally agree. The devils is in the details - in this case, the EFFECTIVE interest rate.

Don't make it a habit to borrow money from banks or other people. If you can't pay for it now, you can't afford it. Save more. Only borrow if you use it as leverage to obtain a return rate which is higher than your borrowing cost. Credit cards and personal loans are 'bad debts' as opposed to good debt such as home mortgage. Then again, banks are always sneaky when it comes to 'attractive offers', depending on which lending tree side you are in. Best way to explain chabalang's 'technical details' , I found is from this article.

http://www.investopedia.com/articles/basic...p#axzz1UhfVgA87

Incidentally, I posted a simpler article on this last week...
http://forum.lowyat.net/topic/1987965

I think it's cheaper to negotiate with your neighbour to have him fix the leaking problem, no?

thanks chabalang/auron total agreed with your statements. Definitely fork out some from my savings.

If possible seeking assistance from relatives or family members will be the 1st priority. But sometimes such issue will really bring problems in between both party. I would suggest to make it as your 1st option before going out looking for banks / credit companies.

Hi all. I am currently holding an amount of money, which I'll need it to start a new business next year end, other than FD, is there any places or method where i can save, and generates some interest in a more secure method?

I'm 20 Employed since 2011 Jan 1

Salary:RM3,800 (arghh earning peanut)

Food+entertainment:RM600
Transportation:RM0 (company car + claim petrol)
Room Rental:RM150
Study Loan:RM450 (left 6months don feel like clear it coz its 0% interest)
Telephone bill:RM15
Total : RM1215

so my saving : RM2585
Thinking of getting a car treat it as toy.. and has a downpayment of RM20,000
WHAT kind of budget range car i can get? assuming i only pay maximun 3years installment coz personal loan interest rate is darn high due looking for car over 15years old... and after 6months i have no more study loan.. saving could be RM3,000+, and was learning forex + stock market.. would like to pump my money into investment in near future.

This post has been edited by alwjmonster: Aug 16 2011, 01:40 PM

Hi bro. Just to clarify b4 calculating ar:
1. Yr company provides a company car
2. U want to buy a car as a toy with a downpayment of RM20K & max 3 years loan
3. U have the downpayment cash in hand
OR
U going to get it via a personal loan?

I got the cash downpayment in hand.. haha and company providing car are only for using in work. not for personal use, pls suggest what kind of budget range car i can get, so i can being hassle free from financial issue.. and i live 5mins away walking from my workplace

This post has been edited by alwjmonster: Aug 16 2011, 01:30 PM

well, IMHO, if it's just a simple car U want, U can cash & carry with your $20K a 2ndhand local car + have left over to ensure the brakes, engine, etc. works fine. Maintenance also cheaper - any ahbeng or ali workshop can repair and maintain. LIFEstyle

If lifeSTYLE - heheh - the sky's (and debts) the limit


Just an opinion ar - your $, your life, your choice. Checkout them prices here to get an idea
http://www.motortrader.com.my/

haha i have quite a few option car in my mind already, im a car freak, soo power is everything.. im looking for a manufactured 92years honda civic eg6.. probably range vary RM38,000 to RM45,000.. so personal loan aamount is starting from RM18,000 to 25,000..
so this aint so tight for me right?? sigh pretty neccessary coz i know the concept that "no car no girlfriend"...

No car, no GF
OR
No fast car, no fast women

beware of what U wish for bro Both the fast car & fast women can drain U dry

BTW, buying is just one cost - the maintenance, repairs, insurance, road tax, operating expenses, etc. is a WHOLE other game

This post has been edited by wongmunkeong: Aug 16 2011, 01:48 PM

that for im looking for Vtec nor turbo car haha but note that i could probably drive once or mayb twice in a week.. so i think maintenance issue does not consume much.. im not using it as a daily drive, i treat it like a toy, like a sex partner who giving me orgasm during weekend, nah that's just an exaggeration.. haha, coz im pretty lifeless bored over here without a ride to meet some friends.

Cars, even if left in the parking lot, will need maintenance & repairs leh bro
eg.
tyres' rubber get too hard and brittle after 2 yrs+
engine oil wears down due to chemicals in the oil whether used or not

Weekend orgasms? i like your expression. Well, for 3 years' Hire Purchase with a $20K downpayment, i think U can get quite a ride. Unfortunately, i'm unsure how much "pain" U want to endure for that 3years' loan. Best to check with that motortrader website - i think they've got a built-in calculator too for what U want to calculate after U find a fast ride.

G' luck with the fast car (and faster women )