Tawas (Tabung Warisan Anak Selangor)

tawas logo

Many of you may have heard this word being mentioned but those of you who have heard it might not know what it means. TAWAS, which is an abbreviation of Tabung Warisan Anak Selangor, or better known in English as the Children’s Selangor Heritage Fund (ALUM).

Just what is this fund about and how can we go about acquiring this fund for our children?

TAWAS is a programme that has actually been launched way back in August 2008. It is in fact a trust fund that was set up for all babies that are born in Selangor after the year 2008. Just to tell you what you might expect from the end of all this is that your child would get out of this fund is a total of RM1,500 when he or she turns 18. Although this might seem like a very long period to most parents to wait for but you never know just how much this sum of money could really mean at that point of time. Also, as a parent, nothing is too good for our child so below here you will see just how you too can register your child under the TAWAS programme.

What you will expect to get when you first register your child is an amount of RM100. These RM100 payments are awarded by the Selangor government as a savings fund for every registration that has passed through successfully. As mentioned above, at the end of 18 year period of waiting, that is when you will get to see your child reap the benefits of the investment which amount to the total RM1,500.

One good thing that has been changed in TAWAS in the age limit to apply for registration. The first time TAWAS was implemented, new born babies in Selangor had to be registered immediately as you would have to get your baby registered before the age of one. If you are a parent and if you have a child who is probably 2 years of age, you might not be as happy as the others who are privileged. You do not have to worry about all that anymore. The age limit for children to register has been increased from below a year old to 3 years old now ever since July 9, 2011. This allows all those children who are privileged to be registered under this programme if they have missed out on it the first time. With that being said, if your child is born in Selangor and is below the age of 3, you should go and register your child right away as you have everything to gain out of this programme.

How Can You As A Parent Register Your Child?

These are some of the conditions which you will have to abide by when you are registering your child for Children’s Selangor Heritage Fund (ALUM) or better known among Malaysians as the TAWAS programme.

The First Condition

The application for TAWAS is open to everyone child who is born in the state of Selangor that meets the following conditions listed below.

  1. You have to be a Malaysian citizen and in addition to that, you would have to be born in the state or even out of the state of Selangor before the 1st of January 2008.
  2. The mother or father of the child has to be born in the state of Selangor or even if the mother or father happens to be born in the Federal Territory of Kuala Lumpur before the 1st of February 1974.

The Second Condition

This second condition here is meant for all the children who are born within the state. Your child would have to fit the following conditions listed below.

  1. A citizen of Malaysia.
  2. Your child needs to be born in the state before the 1st of January, 2008.
  3. Parents who are not born in Selangor itself but if they have been residing in Selangor for a minimum period of 5 years at least.

The Third Condition

  1. You would have to be a citizen of Malaysia.
  2. Parents who are living in other states, if your child is born outside of Selangor at the borders of the other states such as Negeri Sembilan, Perak and even Kuala Lumpur before the 1st of January, 2008.

Also please take note, to the parents of the children who are permanent residence in the states at the borders such as Negeri Sembilan, Perak and even Kuala Lumpur, you are required to go and obtain a residency stamp of approval from either the Chieftain, Village Chief and the Chairman of the Housing Taman where you live and no one else.

What Are The Required Document That You Will Need?

You will need to bring copies of the original documents as listed below.

  • Birth certificate of the child
  • MyKid – Child
  • MyKad – Of The Mother
  • MyKad – Of The Father
  • MyKad – Of The Guardian (Only If Needed)
  • Letter adoption certificate (Only If Needed)

Where Can You Register For TAWAS?

  • The best way and most convenient to register for the program is through the TAWAS Website ‘www.tawas.org.my’ , registration is straightforward.
  • The Local Authorities
  • Head Of Village
  • Regional Offices
  • Assembly Government
  • Children Selangor Heritage Foundation

Do ensure that all documents are complete before registering your baby for Tawas programme.

To those of you who need to get a Certificate of Evidence of Residence. You can get the information you want by going to the people in charge as listed below.

As soon as you have registered for the programme for your child, you will receive a Simanja Card. To all those who still are not too sure about the registration, you can always head down to the Children’s Selangor Heritage Foundation which is at Jalan Multimedia in I-City.

How to check for registration status ?

Once all documents are submitted, Tawas registration can be checked with the link below.

http://pawas.yawas.my/index.php?mov=pendaftaran_search

 

BSN Housing Loan

bsn personal loan

Bank Simpanan Nasional (BSN) Housing Loan

BSN Second Charge is a home loan under BSN GIRO Home that suits for any government servants and other government agencies. This home loan mainly work as an additional loan for the individual mentions received insufficient loan that they are entitled. Another BSN GIRO Home packages include the BSN 2 Generations which primarily work as a joint loan between two generations comprising a parent with a child who still studying at any level, age 21 years old and above that would graduate in three years time. This makes the BSN 2 Generations to have a longer loan period with the parents did not suffering from a bad income for a period of five years.

Moreover, BSN which is a wholly government owned can opt for the zero moving cost (ZEC). The ZEC works as an absorbent for the entry cost that has been made to the borrowers. Currently, these home loans offer a financial amount starting from RM 50,000 to RM 100,000 and above. The interest rates for the borrowers start from 6.95% per annum to 4.40% per annum with a financial margin up to 90% of the property value. There is also another 5% charges with the property value finance which include the MRTA. The loans tenure is up to 35 years or till borrowers is age 70 years old whichever comes first.

Requirement

The loan needs the borrowers to be at least 21 years old to 70 years old by the end of financing with a minimum annual income of RM 24,000 and is open to any nationalities.

Charges

BSN property loan requires a 1% per annum for any delayed payments, 1% for the late penalty fee from current outstanding amount, RM 50 for the redemption letter fee and RM 20 for the letter for EPF withdrawal fee.

Documents

These documents are needed to apply the loan

  • A copy of NRIC or Identity Card
  • A copy of sales and purchase, letter of offer or booking receipt from the developer
  • A copy of individual title deed
  • Property evaluation reports for built or subsale properties
  • A copy of letter of employment
  • Latest copy of 3 to 6 consecutive months salary slip
  • A copy of business registration Form 24 and Form 49
 

RHB Home Loan

download

RHB Housing Loan

For years now, RHB has been known to provide home loans in Malaysia. This is a bank which offers home loans at very competitive rates which includes flexibility of loan payments and also loan tenure. It doesn’t matter whether you are looking to buy a new home or an old one, RHB is one of the banks worth considering. RHB is currently in 9 countries in South-East Asia and it is also a merger between four banks which are, Kwong Yik Bank Berhad, Sime Bank Berhad, Bank Utama Berhad and DCB Bank. RHB is without doubt one of the most preferred banks among the people in Malaysia because of its varieties of banking and financial services like premier banking, investment banking, loans, asset management, credit cards and Islamic banking.

 

Do you qualify for a RHB Bank housing loan?

If you want to qualify for the RHB housing loan, you would have to meet the age requirement that has been set by RHB Bank whereby you need to be at least 21 years old and above and you also cannot be more than 70 years of age. You have to be employed or self-employed and you must meet the minimum required salary in order to be qualified for the home loan.

 

Just how much can you really borrow?

The first thing that you would need to know is that RHB Bank has given you a maximum instalment limit of up to 50% of your income to service the loan. The loan is provided could also reach up to a 90% of the property but that is not all as you also get an additional 5% Mortgage Reducing Term Assurance (MRTA) . Do keep in mind that if you have any other instalments from other existing loans, it will make it a little harder to qualify for the full loan.

 

How do I improve my chances on getting a loan for that dream house I have always wanted?

When it comes to applying for loans, being married is always a plus point. You will have the choice of being able to make your spouse a co-applicant and her income will be added to your eligibility when applying for the loan. If all else fails is that you could also add your parents as co-applicants and the same privileges apply. Of course, you could always choose a longer tenure loan up to 35 years which would reduce your monthly repayments and increase your chances of getting the loan.

 

2 Types of loans available

My1 Flexi Home Loan

The My1 Flexi Home Loan comes with the flexibility whereby you can withdraw or even deposit any amount of cash into your account when it is required. You would have to pay a small fee each time you use the redraw feature however this loan comes with no processing fee. The interest rate is flexible and it depends on factors such as your credit history and annual income. The loan tenure ranges between 5 – 35 years or before you reach 70 years of age. This is depending on whichever comes first. The best part of all is you can get a total loan amount of up to 90% of the property value and all Malaysians and Non-Malaysian aged between 21-70 years of age are eligible for this loan.

My1 First Home Loan

If you are about to purchase your first home, then think no more as this loan would be just perfect for you. The beauty about this loan package is that it comes with a full 100% margin of finance and is in line with Malaysian Government. Being young isn’t going to stop you from having your own home now with an offer like this. The interest rate is flexible and it depends on factors such as your credit history and annual income. The loan tenure ranges between 5 – 35 years or before you reach 65 years of age. The crazy thing about this loan is that you can get a total loan amount of up to 100% of the property value. Only Malaysians aged between 21 and 35 are eligible for this loan here and they also have to be a permanent employee with more than 6 months with the current employer. The properties which you will be eligible to purchase with this loan range between RM 100,000 – RM 500,000.

 

The Conclusion

Both home loans offer great advantages in their own ways. Do your homework and be sure about what both loans offer and which repayment scheme would suit you best.  If you are a first time home buyer then think no more as the My1 First Home Loan offers a better bargain for what your money is worth.