{"id":8505,"date":"2012-02-01T13:48:07","date_gmt":"2012-02-01T05:48:07","guid":{"rendered":"http:\/\/poobalan.com\/blog\/?p=8505"},"modified":"2012-02-01T13:51:09","modified_gmt":"2012-02-01T05:51:09","slug":"apply-for-skim-amanah-rakyat-sara-1malaysia","status":"publish","type":"post","link":"https:\/\/poobalan.com\/blog\/others\/2012\/02\/01\/apply-for-skim-amanah-rakyat-sara-1malaysia\/","title":{"rendered":"Apply for Skim Amanah Rakyat SARA 1Malaysia"},"content":{"rendered":"<p style=\"text-align: justify;\">First, some introduction:<\/p>\n<p style=\"text-align: justify;\">Skim Amanah Rakyat 1Malaysia (SARA 1Malaysia) is a special Scheme initiated by the Government of Malaysia aimed at promoting the participation of the low-income group to save and invest; apart from to assist them in managing the impact of the rising current cost of living.<\/p>\n<p style=\"text-align: justify;\">The Scheme will be implemented in collaboration with Permodalan Nasional Berhad (PNB) and selected financial institutions.<\/p>\n<p style=\"text-align: justify;\">Through this Scheme, eligible Malaysians will have the opportunity to apply for a RM5,000 loan from participating financial institution to invest in Amanah Saham 1Malaysia (AS 1Malaysia)<span style=\"font-size: 11px;\">\u00a0<\/span>managed by Amanah Saham Nasional Berhad (ASNB), and will receive attractive incentive payments on their savings and investments.<\/p>\n<p style=\"text-align: justify;\">About the loan:<\/p>\n<ul>\n<li>The loan amount is RM5,000 per household.<\/li>\n<li>The loan is for the purchase of 5,000 Amanah Saham 1Malaysia (AS 1Malaysia)<sup>I<\/sup>\u00a0units.<\/li>\n<li>Participation will be opened for one year starting from 30 January 2012* or upon full subscription of the total allocation, whichever is earlier.<\/li>\n<li>Participation will be disqualified in the event of:<\/li>\n<\/ul>\n<blockquote>\n<ol>\n<li>The participant misses three consecutive monthly payments;<\/li>\n<li>The participant provided false information during application;<\/li>\n<li>The participant is declared a bankrupt; or<\/li>\n<li>The participant dies.<\/li>\n<\/ol>\n<\/blockquote>\n<p style=\"text-align: justify;\">NOTE: there was supposed to be a cash based investment as well (meaning you don&#8217;t need to apply for the loan), but latest statement in <strong><a href=\"http:\/\/www.bernama.com\/bernama\/v6\/newsbusiness.php?id=643007\" target=\"_blank\">BERNAMA<\/a><\/strong> says only loan-based application will be accepted.<\/p>\n<p style=\"text-align: justify;\">So, what are the benefits?:<\/p>\n<p>If you use your savings to invest, you will get a fixed dividend of RM134 monthly. But, if you choose to reinvest the dividend every month, you will receive RM13,000 at the end of the programme\u2019s five-year lifespan. [but since you can&#8217;t use cash, so I&#8217;m not sure how this will work as nothing is mentioned on the official website].<\/p>\n<p>If you take the loan, repayment is RM84 monthly, leaving RM50 to reinvest and a RM10,000 payout in five years.<\/p>\n<p>Also, surprising to see quota in the allocation. If your aim is to help poor people, why have quota based on race?<\/p>\n<p style=\"text-align: justify;\"><span style=\"background-color: #ffff00;\"><strong>1. Are you eligible? Check this out:<\/strong><\/span><\/p>\n<ol style=\"text-align: justify;\">\n<li>Malaysians aged between 18 and 58 years old<\/li>\n<li>Gross household income of between RM500 and RM3,000<\/li>\n<li>Applicants must not be declared bankrupt throughout the loan funding period<\/li>\n<li>Any other terms set by the banks<\/li>\n<li>Applicants and \/ or spouse must not be a participant or beneficiary of any ASNB-related Government programme:\n<ul>\n<li>Program Pembangunan Rakyat Termiskin;<\/li>\n<li>ASB Sejahtera; and<\/li>\n<li>ASW2020-Bandar<\/li>\n<\/ul>\n<\/li>\n<li>Applicants and \/ or spouse do not have any investments in ASNB unit trust products OR applicants and\/or spouse(s) (household) have a combined aggregate investment of less than RM10,000 in all ASNB products<\/li>\n<li>All-clear status for ASNB unit trust account<\/li>\n<li>Application is subject to the distribution of Amanah Saham 1Malaysia (AS 1Malaysia)<sup>I<\/sup>\u00a0as stipulated and availability:\n<ul>\n<li>Bumiputera &#8211; 50%;<\/li>\n<li>Chinese &#8211; 30%;<\/li>\n<li>Indian &#8211; 15%; and<\/li>\n<li>Others &#8211; 5%<\/li>\n<\/ul>\n<\/li>\n<li>Only one member of the household is eligible to obtain the loan funding<\/li>\n<li>Application is approved for a loan at one bank<\/li>\n<\/ol>\n<p style=\"text-align: justify;\"><strong>DEFINITION OF HOUSEHOLD<\/strong><br \/>\nEligible household refers to individuals with gross household monthly income of between RM500 and RM3,000 including the following categories:<\/p>\n<ul style=\"text-align: justify;\">\n<li>Married &#8211; a combination of gross income of the husband and wife; and<\/li>\n<li>Single mothers or fathers &#8211; individual gross income.<\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><span style=\"background-color: #ffff00;\"><strong>2. Fill up the Application Form<\/strong><\/span><\/p>\n<p style=\"text-align: justify;\">So, you are qualified? Then get the form:\u00a0<strong><a href=\"http:\/\/www.sara1malaysia.com.my\/Borang_SARA1M.pdf\" target=\"_blank\">http:\/\/www.sara1malaysia.com.my\/Borang_SARA1M.pdf<\/a><\/strong><\/p>\n<p style=\"text-align: justify;\"><span style=\"background-color: #ffff00;\"><strong>3. What documents to prepare and bring? Prepare the following:<\/strong><\/span><\/p>\n<p style=\"text-align: justify;\">Main Documents<\/p>\n<ul style=\"text-align: justify;\">\n<li>Application form to participate in Skim Amanah Rakyat 1Malaysia (BPPSARA1M)<\/li>\n<li>Loan Form from the participating financial institutions<\/li>\n<li>Registration form of Unit Amanah Akaun Dewasa ASNB P1<\/li>\n<li>Additional Investment Form ASNB 21<\/li>\n<li>Redemption Form ASNB 31<\/li>\n<li>Investment Book Renewal Form BS3<\/li>\n<li>Risk Disclosure Statement (RDS)<\/li>\n<\/ul>\n<p style=\"text-align: justify;\">Supporting Documents<\/p>\n<ul style=\"text-align: justify;\">\n<li>Original and 2 copies of Mykad of applicants<\/li>\n<li>Original and 1 copy of Mykad of spouses (if applicable)<\/li>\n<li>Certified Income document\n<ul>\n<li>For applicants and\/or spouses, please provide original and copies of the latest three months&#8217; Pay Slips or Bank Statements.<\/li>\n<li>For applicants who do not have Pay Slip or Bank Statement, the income declaration stated in BPPSARA1M Part C will be applicable.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p>* BPPSARA1M MUST be signed before a WITNESS &#8211; either the Employer\/Penghulu\/Official at the Department of Orang Asli Development\/Government Official in a Managerial Position \/Member of State Legislative Assembly\/ Member of Parliament<\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><span style=\"background-color: #ffff00;\"><strong>4. Where to go to apply?\u00a0<\/strong><\/span><\/p>\n<p style=\"text-align: justify;\">Go to any branches of the following banks:\u00a0Maybank, RHB, CIMB, BSN. If your application is approved, the bank will inform you.<\/p>\n<p style=\"text-align: justify;\"><strong><span style=\"background-color: #ffff00;\">5. Got questions? Contact them! :<\/span><\/strong><\/p>\n<p style=\"text-align: justify;\">Special Project Unit &#8211; SARA 1Malaysia<br \/>\n28th Floor, Menara PNB<br \/>\n201-A Jalan Tun Razak<br \/>\n50400 Kuala Lumpur<\/p>\n<p style=\"text-align: justify;\">Tel: 03-2057 3065<br \/>\nFax: 03-2050 5140<\/p>\n<p style=\"text-align: justify;\">Email:\u00a0<a href=\"mailto:saracare@sara1malaysia.com.my\">saracare@sara1malaysia.com.my<\/a><br \/>\nWebsite:\u00a0<a href=\"http:\/\/www.sara1malaysia.com.my\/\" target=\"_blank\">http:\/\/www.sara1malaysia.com.my<\/a><\/p>\n<p style=\"text-align: justify;\"><strong>HOTLINE from 9 a.m. to 5 p.m.<\/strong><br \/>\nMonday to Friday (excluding public holidays)<\/p>\n<p style=\"text-align: justify;\">reference:<strong>\u00a0<a href=\"http:\/\/www.sara1malaysia.com.my\/n_index.php\" target=\"_blank\">http:\/\/www.sara1malaysia.com.my\/n_index.php<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>First, some introduction: Skim Amanah Rakyat 1Malaysia (SARA 1Malaysia) is a special Scheme initiated by the Government of Malaysia aimed at promoting the participation of the low-income group to save and invest; apart from to assist them in managing the impact of the rising current cost of living. The Scheme will be implemented in collaboration [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[254,112,115,84],"class_list":["post-8505","post","type-post","status-publish","format-standard","hentry","category-others","tag-1malaysia","tag-discrimination","tag-economy","tag-funds"],"_links":{"self":[{"href":"https:\/\/poobalan.com\/blog\/wp-json\/wp\/v2\/posts\/8505","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/poobalan.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/poobalan.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/poobalan.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/poobalan.com\/blog\/wp-json\/wp\/v2\/comments?post=8505"}],"version-history":[{"count":4,"href":"https:\/\/poobalan.com\/blog\/wp-json\/wp\/v2\/posts\/8505\/revisions"}],"predecessor-version":[{"id":8511,"href":"https:\/\/poobalan.com\/blog\/wp-json\/wp\/v2\/posts\/8505\/revisions\/8511"}],"wp:attachment":[{"href":"https:\/\/poobalan.com\/blog\/wp-json\/wp\/v2\/media?parent=8505"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/poobalan.com\/blog\/wp-json\/wp\/v2\/categories?post=8505"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/poobalan.com\/blog\/wp-json\/wp\/v2\/tags?post=8505"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}