We often stumble across the terms “Flat Rate Interest” and “Reducing Balance Rate” when applying for loans, but do we truly understand the difference between the two types of interest? Although these terms may sound like financial jargons, they are relatively simple to understand. The truth is most of us take the easy route and depend on our bankers to do the calculations for us.
That said, it’s best to keep informed on these finances so we have a good idea when the time comes. Here’s our explanation on their differences and calculations, made simple to help you manage your own finances.
Tax season can be a stressful time for anybody, especially if you have other things on your plate. If you’re already juggling your bills, groceries, and other housing expenses, finding out that you owe the government back taxes can be a real nightmare.
What you may not realize is, there are some tricks you can try to lower the taxes you pay year after year. And guess what? They’re all perfectly legal. Let's take a look at some of the scenarios where these tax exemptions may be applicable in Malaysia.
Every time you’ve applied for a financial product, you may have heard the terms CCRIS or CTOS has thrown around, more so when you apply for loans. And if you’ve never quite understood what those terms mean or don’t know the difference between the two, we’ve simplified it for you here and listed why they are so important to Malaysians.