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What is Central Provident Fund OR CPF?

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Image Source: http://www.bankbazaar.sg The Central Provident Fund OR CPF in Singapore is a mandatory government managed savings reserve funds conspire that will be somewhat supported by the business and mostly by the worker. The CPF fills in as an essential machine gear-piece in the standardized savings arrangement of Singapore as this reserve will be utilized to meet your retirement needs, human services needs and lodging needs. If there should be an occurrence of lower wage specialists, the administration of Singapore ventures in to supplement their CPF investment funds with plans including Workfare and best ups to Medisave if there should be an occurrence of senior subjects to give some examples.  Essential Points to consider with respect to your Central Provident Fund (CPF)  Withdrawal Age for CPF – You can begin pulling back from your CPF reserve funds from the age of 55.  Payout Eligibility Age for CPF – You will begin accepting assets as regularly scheduled payou
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10 questions to ask yourself before getting a home loan

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You’ve got your savings, you’ve selected a house, you’ve selected a bank to get the mortage from… so you think you’re ready to apply for a home loan? We suggest not. At least, not until you’ve answered these 10 questions that every new house owner must ask themselves: Q 1. Do I have any pending debts? Your home loan is a huge amount. Even if you choose a long tenure, you may end up paying a large amount as equated monthly instalment (EMI). More importantly, the amount of loan the bank offers you will depend on the Total Debt Servicing Ratio (TDSR), which is the percentage of your income that goes in repayment of existing loans, including credit card bills. The maximum TDSR you can have is 60% - so if your monthly repayments are more than 40% of your total income, you will not be able to get the home loan amount you desire. So ensure that you clear off as many debts as you can, before applying for a home loan.  Q 2. How’s that credit score looking? Having little or no existi
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Singapore Budget 2017 - What People Wished From it?

The budget for the financial year 2016-2017 will be announced pretty soon. This will make the government’s priorities pretty clear for this year. This will be the first budget announced by Mr. Heng Swee Keat ever since he became the Finance Minister. The budget comes at a tough time of economic restructuring at a time when redundancies are on an all time high.  The services that were accounted for bulk of job redundancy with total layoffs being the highest since the 2009 global financial crisis. Amidst all the economic slowdown this year, observers have stated that the main focus of the budget will be helping businesses cope with economic headwinds and keeping Singaporeans gainfully employed. What do the higher ups have to say about it? Irvin Seah, a DBS Bank senior economist stated that it is important that companies get the required assistance to navigate difficult economic conditions, so as to safeguard negative impact on the labour market. He said that If Singapore end
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Understanding APR in Credit Card Singapore

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There are several things that you need pay attention to when you are getting a credit card in Singapore such as the rate of interest, the annual fee of the card, charges that would decide how expensive or inexpensive our credit card is going to be. But there is one major charge that most of us ignore when studying a credit card and that is APR. APR or Annual Percentage Rate is the rate of interest one has to pay for borrowing on their credit card. Different types of APR There are different types of APR that we don’t know about. Let’s learn more about the different types of APR: Purchase APR: Purchase APR is applicable on all the purchases made on the credit card. This is very different from the rate of interest charged. Balance Transfer APR: Balance Transfer APR is charges applied when one transfers a balance to their new credit card. Cash advance APR: Cash Advance APR is the interest rate charged whenever the cardholder makes a withdrawal with the card. APR grace
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Location: Singapore
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How to Apply for a UOB Car Loan in Singapore

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If you are looking to finance your dream car through a car loan, UOB’s car loan options might just as well be the ideal choice for you. With attractive interest rates and extended loan tenors, you can repay your car loan with convenience and ease. Let us look at some salient features of the UOB Card Loan and the options available to you if you wish to apply for your car loan with UOB . Key features of the UOB Car Loan UOB finances 70% of the price of the car (as determined by the bank –the bank considers prevailing market value). So if you are ready to purchase your dream ride, make sure you make a down payment of not less than 30% of the car’s prevailing market price. UOB is particularly known to process and subsequently approve the application in quick time. Approval of the application is subject to satisfying required eligibility criteria.  The bank offers accommodating interest rates on car loans. If you already have an existing loan with UOB, you are certain to get a
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What do you mean by Reward Credit Cards in Singapore?

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Credit cards have come a long way since their inception. From offering the simple advantage of allowing cardholders to purchase items without the need for physical cash, credit cards nowadays have been tailored to appeal to various consumer segments. In this regard, one of the biggest advantages a credit card can offer is rewards for expenses charged to the card. These rewards can range from actual reward points that can be accumulated and redeemed for a wide variety of gifts to cashback, wherein a small percentage of the money spent using the card is credited back to the cardholder’s account to frequent flyer miles which can be accrued and redeemed for discounted airfare or upgrading existing flight tickets. Choosing a credit card in Singapore that offers rewards can be quite a confusing task. Firstly, a cardholder should ensure the card actually provides a reward that will be beneficial to them. There’s no point in settling for a travel card giving miles if you barely use
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Location: Singapore
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Best petrol credit cards in Singapore

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Benefits of Using Petrol Credit Card for Reward and Cashback in Singapore When it comes to expenditures for Singaporeans, fuel is one of the biggest expenditure. Living in a small island like ours, it’s surprising how much we spend on fuel. The rising petrol prices does not help our cause. The best way to cut down on fuel costs is through fuel cards or petrol cards in this case. There are more than 50 petrol cards in Singapore, each very different from the other. In this article, we will discuss the top petrol cards in Singapore that will cater to the different fuel card requirements of Singaporeans. OCBC 365 credit card OCBC 365 credit card is one of the best credit cards out there that will not only help you save up on petrol but will also help you save up in different categories. The card not only lets you save up to 22.2% on petrol but will also help you save up to 6% on dining and 3% on online shopping. What more can you want when you have a credit card like this?
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Location: Singapore
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