syfqa athirah

Nursyafiqah athirah mohd sallehuddin 19DPM20F1023

EXERCISE

1. Discover the types of credit card, charge card, debit card and prepaid card.

Credit card

- Rewards credit card and cashback credit cards

Charge card

- Debits and credit cards

Debit card

- ATM and prepaid cards

Prepaid card

- Prepaid travel and cashback cards

2. Explain the different features of credit card, debit card, prepaid card, charges card

offered by financial institution in Malaysia.

CREDIT CARDS CHARGE CARDS DEBIT CARDS PREPAID CARDS
Limited spending
Cashless payment Similar to credit card Selective limit
merchants Need to reload

Track your High late payment Good option for Control spending
spending for charges control spending
budgeting

Loyalty points to Full payment based Quite similar to
redeem goods on monthly charges ATM card

3. Interpret student loan.

- Offered by Government, government agencies and private organizations to

college or university students. The loans are provided at a very low interest rate
and become payable when the students gain employment. The example loans
are offered is PTPTN.

4. Interpret personal loan.
- Personal loan offered for your personal use, such as for the purchase of a

personal computer or money to use towards your marriage. It is tempting to
apply for this type of loan because the application process is usually fast and
easy. Moreover, most bank do not require a guarantor or collateral. Some of the
interest rates can be very high.

5. Discuss the terms and conditions of loan offered by different financial institutions

when apply.

- The terms and conditions of loan offered by different financial institutions when

apply, for example when apply car loan. Firstly, minimum deposit about 10% of
the cash value of the car but financial institutions can request for a higher
deposit. Secondly, effective interest rate by the actual interest that you pay after
taking into account annual compound interest on the loan over its tenure. Lastly,
repossession is if you default on your payments, financial institutions can
repossess your car as they are the legal owners.