The One Cashback Credit Card For ALL Local Spends - Maybank FC Barcelona Visa Signature Card

Finally, there is a credit card that gives you unlimited cash rebates with no minimum spend required – the Maybank FC Barcelona Visa Signature Card.

Compared to other credit cards that offer varying cash rebates depending on the type of spending (shopping, dining, entertainment, travel, etc) or with selected merchants only, the Maybank FC Barcelona Visa Signature Card offers 1.6% UNLIMITED cashback for ALL local transactions.

Instead of remembering which credit card to use for different situations, you can simply use this one card for all your expenditure. So you can shop with ease-of-mind, knowing that you can get 1.6% cash rebate for everything and anything you spend. This makes it an ideal one-stop card for spending on big-ticket items like luxury items, personal insurance, home furnishings and appliances, car maintenances, or even the hefty cost of planning a wedding.

On top of that, there is NO CAP on how much you spend, nor is there a MINIMUM amount you have to spend in order to qualify for the cash rebate. For example, if you are charging S$20,000 for a luxury leather bag, what you will be getting back is S$320! How’s that for being the ONE card for ALL your shopping?

Even with foreign transactions, you get 2X TREATS Points with every dollar spent on foreign currency transactions with the Maybank FC Barcelona Visa Signature Card.

Football fans, here’s your deal-maker: As a Maybank FC Barcelona Visa Signature Card user, you can stand a chance to win a trip for 2 to watch FC Barcelona LIVE at Nou Camp every football season*!

As long as you meet the minimum annual income of S$30,000, applying for the Maybank FC Barcelona Visa Signature Card is as easy as visiting their website.

Kindly refer to maybank.sg/barca for full details.

*Terms and Conditions apply. 

 

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How Balance Transfer Can Help You Save On Interest?

Do you know that Balance Transfer is a great financial tool to help manage your finances better? Balance Transfer is a lending product for short term needs which does not charge any interest* for up to 12 months. On top of this, it also allows for flexible repayment arrangements; either $50 per month or 3% of the principal, whichever is higher. Existing DBS / POSB Credit Card and Cashline customers stand to benefit the most as they can get instant approval when applying for Balance Transfer. Upon approval, the cash is disbursed into their accounts instantly. With such amazing benefits, it is little wonder that Balance Transfer has gradually gained popularity.

*One-time processing fee is applicable

Balance Transfer Helps You Save On Interest

The greatest advantage of Balance Transfer is that it helps you to save on interest payments. For example, a need for a sizeable amount of cash may cropped up in a time when you’re cash strapped. It is possible to tap onto Balance Transfer’s interest-free feature to save on interest for up to 12 months with a nominal one-time processing fee.

Balance Transfer can also be used to refinance your existing Credit Cards outstanding balances. So instead of incurring the interest on them, it is possible to enjoy interest savings of up to 81% with Balance Transfer. Here is a comparison to illustrate how you can save on your interest payments with DBS / POSB Balance Transfer.

Either way, the interest savings that you obtain with Balance Transfer will put you in a better financial position. With Balance Transfer, you can receive short-term cash instantly for any purpose by only paying a one-time processing fee.

How To Apply For Balance Transfer

Here is how you can take immediate action to manage your finances better. Simply follow these instructions to apply for Balance Transfer

  • Log in with your ibanking/mbanking/ATM or credit/debit card
  • Choose your desired amount and the tenure
  • Submit your application online (no documents will be required for existing DBS/POSB customers)
  • The amount will be drawn from any credit balances available in your selected DBS/POSB credit card or Cashline account if your Balance Transfer application is successful
  • The amount drawn will be credited into your selected DBS / POSB Current or Savings accounts

Check out latest promotion for DBS / POSB Balance Transfer here.

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Why Personal Loan Is Not As Daunting As It Sounds

All is fine and dandy when your life is nicely panned out for you, but as Singaporeans, we can never be too cautious. What if a once-in-a-lifetime opportunity knocks, and you suddenly require a larger-than-expected sum of money to seize this opportunity?

Opportunities can come in different forms in your various stages in life. There may be investment opportunities, a chance to go abroad on an exchange programme, or a chance to further develop your skill sets.

If you find yourself short on cash and need a sum of money to tide you over a short period of time, a personal loan can come in useful.

When we think about loans, most would frown upon it. We would assume that borrowers are incapable of managing their own finances, or that they are financially irresponsible. That is but a misconception, as personal loans are merely tools that can improve our lives if used in a responsible and wise manner.

As compared to home loans, car loans or educational loans which have specific purposes, personal loans are a more flexible type of loan which can be used for almost any purposes you wish. The most straightforward of which are personal instalment loans, where you borrow a lump sum of money from a bank. You can use the borrowed cash for any reason you like. Payment is in fixed monthly payments over a specified time period.

You never know when you might need a loan, but it’s always good to be aware that there is this option out there without breaking the bank. A loan can be useful in the following situations:

  • A buffer for depleting all your savings – taking a personal loan instead of using up your emergency savings in case of, well, emergencies, and you need the savings
  • Seizing opportunities with smaller cash outlays – taking a personal loan for immediate cash to enrol in a workshop or class to improve your skill sets and employability, which will result in an eventual higher return
  • Fulfilling aspirations – perhaps an exchange abroad, a hobby you’ve always wanted to master or even an important bucket list item
  • Repaying a high-interest loan first – taking a personal loan to pay off higher-interest loans, such as credit card bills

Not all banks and money lenders are created equal. Different financial institutions offer different incentives – some offer lower interest rates while others have lower minimum criteria.

Ultimately, it’s always good to compare loans before applying for one, so you end up with the best bang for your buck for your personal goals and budget – one that has the lowest interest rate, the lowest fees, meets your requirements and has the best welcome offers.

SingSaver offers a convenient platform for comparing between different financial institutions. For a limited time only, get the first 3 months of interest FREE when you apply from SingSaver’s website. That’s not all — SingSaver has also partnered OCBC to offer 0% interest free loan applicable for loan with 2 years tenure.

Not only does choosing the right loan mean meeting your goals earlier, it also means that you can pay off your loans faster.

So while you’re all up for borrowing, be aware of the higher interest rates accounts that you’re liable to paying, so that you clear off those loans first.

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Why It Makes Sense To Choose A Bank Mortgage Loan

Before you purchase your HDB flat, you will be faced with the dilemma of deciding between a HDB loan or a bank mortgage loan. This article demonstrates why it may make sense to choose a bank mortgage loan.

HDB loan is pegged at 0.1% above the interest rate of CPF Ordinary Account. Therefore, the current interest rate on HDB loan is 2.6%. However, you might be able to save on your interest payment if you choose a bank mortgage loan instead. Based on a comparison result from SingSaver, the interest rate on current bank loans varies from 1.62% to 2.28%. Therefore, if you are looking to borrow a loan amount of $200,000, HSBC’s TDMR-Pegged Package is the cheapest at 1.65%. Using this as a comparison, a home owner would need to pay $907 per month by taking a HDB loan, as compared to $814 per month by taking the HSBC home loan ($200,000 mortgage, 25 year repayment at 2.6% versus 1.65%). Therefore, assuming interest rates for both packages stay constant, a home-owner who took up the HSBC TDMR-Pegged package would have saved approximately $28,000 over the loan tenure.

Banks also tend to reward loyal customers for doing more banking activities with them. By taking a bank mortgage loan, the homeowner will be able to earn higher interest rates on their savings deposited. Some common savings accounts are the DBS Multiplier, Standard Chartered Bonus Saver Account and the Maybank SaveUp Account. The additional interest rate given to your savings is on top of the savings that you may have already incurred as a result of paying lower interest expenses on your home loan.

If you are able to apply a savvy refinancing strategy, you will be able to gain some form of control over the interest rates that you pay on your bank mortgage loans. Some of the strategies include

  • Actively comparing home loans on comparison website such as SingSaver to get the best quote,
  • refinance only after lock-in periods are over to avoid paying any penalties,
  • negotiate with the banks for waivers on items such as legal fees etc.

Therefore, by applying a smart refinancing strategy, you can further maximize the savings on your bank mortgage loan.

Do note that a bank mortgage loan has some slight disadvantages as well. A higher downpayment (20% of purchase value) is required, of which at least 5% must be in the form of cash. Therefore, greater cash outlay will be required when choosing a bank mortgage loan over a HDB loan. However, if your budget meets this cash outflow, then this will not be an issue to you. For such group of prospective home-owners, it makes perfect sense for them to choose a bank mortgage loan.

Here’s an exclusive offer from SingSaver: Apply for a home loan and receive $200 cash upon approval. For more details, click here.

 

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Essential Tips On Finding The Right Loan For Your Needs

You have a stable job right now, but since you’re thinking of embarking on a new business soon, you’ll need to acquire a loan. You need the money to purchase your supplies, to hire people and to market your business’ existence. And while you’re certain that you need a loan for this endeavour, you still don’t know how to actually to find the right loan for your needs. In your mind, you think this decision is crucial because the success of your business relies on it – and you’re right. To help you out with your dilemma, consider the essential tips below to find the right loan for you:

  1. How much do you really need?

Just because a lender offers you a loan worth thousands of dollars, doesn’t mean you should take it immediately. Keep in mind that the bigger amount you borrow, the bigger your payments will be – and this can become an issue if your business isn’t as successful as you’d like it to be. On the other side of the coin, if your loan is too small, it might not help you in any way, and you’ll end up paying for high-interest rates. To avoid being placed in this kind of situation, carefully think how much you need for your business and look for a lender which can give you that amount.

  1. What is the interest rates?

Aside from the loan amount itself, you should also consider the interest rates associated with it. Is the lender offering you the amount you need but has very high-interest rates? Are there any lenders in the market who can give you a lesser interest rate? Think about these things first before choosing a loan. It’s also essential to ask the lender if there are any other fees or penalties to be paid after you received the loan. All of the processes involved in the loan should be transparent to you to avoid problems in the future.

  1. What’s the term?

Different loans have different terms. Some loans can be paid for six months while others, in ten years. Since you’re still starting a business, it might be best to settle for a loan which will require you to repay within an extended period of time. This will allow you to save up for the interest rates and the loan, without putting your business’ operations at risk.

Aside from the things you’ve read from this article, it’ll also help if you can actually work with experts when it comes to finding the right loan for your needs. Places like oinkmoney.com may be a good starting point.

Be A Responsible Borrower

Finding the right loan for your needs is never easy. There are several things to think about to come up with the best possible decision. You also have to keep in mind that your responsibility as a borrower doesn’t end the moment you receive the money – you should pour in your time and effort in order to pay all of these in time. If not, your life may be affected negatively. Remember all the things presented in this article, and for sure, you’ll come up with a decision on which loan to get without compromising your financial health in the long run.

Sarah Porter

Sarah Porter is a money-savvy writer and mum of two based in Manchester, UK. She is the Brand and Marketing Manager at the UK loan website Oink Money (oinkmoney.com), as well as the founder of a well known money-saving website. Sarah is originally from Edinburgh where she studied Business and later worked in finance for a FTSE 100 company. She left her career in finance to pursue her passion for writing, a move which allowed her to travel the world with her laptop while running her blog.

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