eFiling is an online system introduced by LHDN (Lembaga Hasil Dalam Negeri) that allows you to submit your income tax details online, which is an alternative to the usual manual form submission. eFiling was first introduced in 2003 and has since undergone a progressive improvement with a more robust system promised for this year. There have been some questions on the authenticity of the transaction and security loop holes have been discovered in the past but the HASIL folks are quick to address the issues and resolved them in timely manner. This year, the eFiling application is not only limited to Internet Explorer browsers like before; you can now also use other browsers like Firefox and Opera. The eFiling is also compatible with Windows Vista operating system.

Read the rest of this entry »

Popularity: 12% [?]

The much anticipated rise in mortgage lending rates has not happened as predicted and the Overnight Policy Rate remains at 3.5%, and Base Lending Rate for the time being, stays at 6.75%. However pundits maintain that an interest rates increase in the third quarter of 2008 is likely.

Regardless of the eventual movement in OPR, Malaysian lenders continue to compete, and September saw the launching new “discounted” home loan packages and some with innovative features.

For quite a long time, HSBC watched as Malaysian Banks slashed rates. Now the “world’s local bank” with a long history and reputation of service excellence, finally introduces a number of “winning” home loans. If you are not fussy about its 7-year lock-in, then check out HSBC’s Home Smart value Plan (Non Free Moving Cost, No MRTA) which starts with a first year rate of BLR-2.25%, followed by BLR-1.75% (years 2-5) and then BLR-1.95% from the sixth year onwards.

The bonus is that the said package comes with “flexi” features, allowing prepayments and withdrawals.

However, the attractive rates apply provided the Letter of Offer is accepted within 3 days of issuance, which is fair enough.

As far as Refinancing is concerned, smart money is with HSBC’s Home Smart Refinancing (min RM RM250,000) that starts with BLR-2.35% and ends with BLR-2% (years 2-5 interest rates vary depending on the loan amount). This is without a doubt the star amongst all refinancing packages out there…and as said earlier…delivered with a healthy dose of top-notch service.

Read the rest of this entry »

Popularity: 9% [?]