The Budget
Posted by 
ar on
September 12, 2007
Whenever the budget gets released, we as consumers generally look for the little details that actually matter to us. Smoke sticks? booze? and if there is potentially going to be some sorta tax exemptions. I guess different ppl look at different areas that would efect them. This time around i didn’t get a chance to have a good look at the budget but im picking up bits and pieces from the daily papers. This is one bit that i picked up today. This is how it works ->
“It is a simple mechanism. For instance, let’s say your monthly salary is RM2,000, 30% of your EPF contribution will go to Account 2. Your monthly housing loan repayment is now RM500 and you can use RM138 to offset the housing loan instalment. The RM138 will be credited to your bank account every month. “In another situation, you are thinking of buying a house, but you can only afford to pay RM400 a month. With RM138 withdrawn monthly from EPF, you can afford to buy a bigger house and pay RM538 monthly,”
I think its good scheme and funds are banked into your personal savings account which makes it very convenient.
Read about it at : 
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2 Responses to “The Budget”
Cool baby:) lets plan to get a bigger house then
By
Valencia (Who am I?) on Sep 13, 2007
I still have mixed feelings about using my EPF money for anything. It’s the best forced savings I have for my future.
But then again, the leaving cost is ever growing, securing a good asset does seem like a good idea.
I don’t know.
But what I am proud to say is Education is 100% free in Malaysia now. Finally!!
By
danny (Who am I?) on Sep 13, 2007