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Refinancing Your Home Loan To Meet CPF Minimum Sum

Home for Danny Tay is an HDB four-room flat in Simei that he and his wife Lynette bought for S$401,000. They’ve been living there for the last three-and-a-half years and it’s also home to their young children, Thaddeus and Judah.

Like many Singaporeans, Danny initially took up an HDB Concessionary Loan, which had an interest rate of 2.6 per cent per annum. But when the 37-year-old engineer heard about the POSB HDB loan over a year ago, he felt he would be in a position to enjoy greater savings.

An easy decision, thanks to lower interest rates

He decided to refinance and signed up for the POSB HDB loan, as it offered him significantly lower interest rates.

Said Danny: “In terms of interest per year, I am saving S$1,960, thanks to the reduced interest rate of 1.8 per cent per annum from 2.6 per cent per annum^.

“I was attracted by the guaranteed interest rate of not more than 2.6 per cent per annum for the first 10 years of the loan.”

For Danny, refinancing with the POSB HDB Loan was a straightforward decision.

The lower interest rates mean that Danny’s monthly repayments were reduced greatly.

He was able to reduce the tenure of his home loan from 30 to 20 years while paying a similar amount each month.

“I kept part of the extra savings (from the reduced monthly payments) in my CPF account to help me meet the CPF minimum sum amount.”

Doing so also allowed him to take advantage of the higher interest rates offered by the CPF Ordinary  Account.

Said Danny: “If I can save S$1,960 a year, I will be saving S$19,600 over the first 10 years of the loan^^. After 10 years, about half of my housing loan should be paid up.

“Even in a worst-case scenario in which interest rates increase significantly after 10 years, my loan amount would still be reduced tremendously.”

Too good to pass up

Danny was so satisfied with the savings he’s enjoying that he has shared his story with his friends.

“I’ve recommended the POSB HDB Loan to six friends and three have signed up so far. I am glad I took up the loan early to enjoy the benefits while interest rates were low.”

This is the eighth story in a 10-part collaboration between TODAY and POSB. Visit  www.todayonline.com/voices/posb to read this story online.

^The HDB Concessionary Loan rate is 2.6 per cent per annum at the time of publication.

^^POSB HDB Loan interest rates are capped at prevailing CPF Ordinary Account (OA)  rate which is at 2.5 per cent per annum at the time of publication. Details on CPF OA rate are available on the CPF Board website.

Deposit Insurance Scheme

Singapore dollar deposits of non-bank depositors and monies and deposits denominated in Singapore dollars under the Supplementary Retirement Scheme are insured by the Singapore Deposit Insurance Corporation, for up to S$50,000 in aggregate per depositor per Scheme member by law.

Source: www.todayonline.com

November 24, 2014
2 Germans Charged With Trespassing And Vandalism at SMRT Bishan Depot

Two German men were charged this morning (Nov 22) with trespassing and vandalism at SMRT Bishan Depot earlier this month.

Andreas Von Knorre and Elton Hinz, both 21, appeared before the State Courts and had their charges read in German through an interpreter.

The Court heard that both men had on Nov 8, at about 2.48am, entered the Bishan SMRT Depot at Ang Mo Kio Avenue 1 without authorisation and vandalised the left exterior cabin of an SMRT train using indelible spray paint.

If convicted, both men may get up to S$2,000 fine, three years’ jail and eight strokes of the cane for the vandalism charge, and fined up to S$1,000 and imprisoned two years for the trespassing charge.

Both men will be remanded at Tanglin Police Division for one week to assist in investigations and reenact the scene. They will next appear in court on Nov 26 and 10am.

Source: www.allsingaporestuff.com

November 23, 2014
Prestasi Cemerlang Aisyah Nurul Izza Menjalani PSLE

SEDANG murid darjah enam lain bersuka ria selepas Peperiksaan Tamat Sekolah Rendah (PSLE) September lalu, Aisyah Nurul Izza dan rakan-rakannya di Madrasah Al-Irsyad Al-Islamiah kembali menelaah pelajaran ukhrawi yang mereka ketepikan buat sementara.

Ini kerana sebulan selepas PSLE, mereka perlu menduduki Peperiksaan Penyaluran Pengajian Islam (ISPE) merangkumi lima mata pelajaran iaitu Bahasa Arab; Bacaan dan Pengajian Quran; Sirah dan Hadis; Akidah, Fiqah dan Akhlak; serta Pengajian Sosial Islam.

Anak sulung pasangan jurutera dan suri rumah dari Indonesia itu jatuh sakit semasa ISPE. Namun, murid warga Indonesia itu tetap cemerlang dalam kedua-dua peperiksaan.

Aisyah mendapat agregat 269 dalam PSLE dengan kelulusan gred A* dalam keempat-empat mata pelajaran, dan gred keseluruhan A* dalam ISPE.

Dia menjadi murid madrasah terbaik tahun ini dan yang terbaik sejak pelajar madrasah diwajibkan mengambil PSLE pada 2008.

Aisyah juga muncul sebagai antara 10 murid terbaik dalam ISPE tahun ini. Peperiksaan itu hanya diduduki murid Madrasah Al-Irsyad, satu-satunya madrasah di bawah Sistem Madrasah Bersama (JMS) yang menawarkan pendidikan rendah.

Ditemui selepas menerima keputusan semalam, Aisyah, 12 tahun, berkata dia bukan jenis yang belajar berbulan-bulan sebelum peperiksaan.

“Saya seperti kebanyakan pelajar, belajar pada saat akhir sebelum peperiksaan. Namun, saya memastikan saya memberi perhatian penuh di dalam kelas dan membuat tugasan yang diberi guru dengan teliti dan bersungguh-sungguh,” kata anggota jawatankuasa eksekutif pemimpin pelajar Madrasah Al-Irsyad itu.

Dengan keputusan itu, Aisyah boleh melanjutkan pendidikan ukhrawi peringkat menengah di bawah JMS di Madrasah Aljunied atau pendidikan sekular di Madrasah Al-Arabiah.

Dia juga boleh memohon melanjutkan pelajaran di sekolah menengah nasional termasuk sekolah perdana seperti Sekolah Perempuan Raffles (RGS).

Aisyah belum membuat keputusan sama ada ingin meneruskan pelajaran di madrasah atau sekolah menengah nasional tetapi berhasrat menceburi aliran sekular kerana meminati kimia dan matematik.

Seorang lagi murid madrasah cemerlang ialah Siti Nur Sarah Ashri, dari Madrasah Al-Maarif, yang mendapat agregat 242 mata.

Dia meraih gred ‘A*’ bagi Bahasa Melayu, ‘A’ bagi Bahasa Inggeris, dan ‘B’ bagi Matematik serta Sains.

Seorang murid Madrasah Wak Tanjong, Asiyah Begam Yusuff, dan Madrasah Al-Irsyad, Syarif Rahman Roslan, pula mendapat agregat 232, dengan kelulusan gred ‘A’ dalam keempat- empat mata pelajaran.

“Anak-anak ini selama enam tahun, kami telah terapkan strategi yang sangat menyeluruh. Sokongan ibu ayah pun memainkan peranan yang amat penting. Semuanya akhirnya membuahkan hasil yang sangat menyenangkan hati.”

– Pengetua Madrasah Al-Irsyad, Encik Nor Isham Sanif, mengenai pencapaian pelajar Madrasah Al-Irsyad.

Source:http://beritaharian.sg

November 23, 2014
3 More Malaysians Arrested For Link to ISIS

KUALA LUMPUR — A man and two women were picked up by police last night (Nov 21) for allegedly being involved in terrorism, said Malaysia’s national police chief Khalid Abu Bakar.

The inspector-general of police said the arrests were made in Kuala Lumpur and Selangor by the force’s counter-terrorism division.

Mr Khalid, in a statement, said the three suspects aged between 28 and 34 were believed to be linked with the Islamic State of Iraq and Syria. (Isis).

“The first suspect, a woman, is the wife of an earlier suspected terrorist charged in court on November 11,” Mr Khalid said.

The second suspect was an event manager in Kuala Lumpur, while the male suspect was an executive assistant.

“All three suspects are believed to have been involved witth ISIS via Facebook,” he said.

Mr Khalid said the three were also found to have been involved in gathering funds, which was used to send Malaysians to join Isis in Syria.

“All three have been arrested to facilitate investigations under the Security Offences (Special Measures) Act 2012,” Mr Khalid said.

Yesterday, a third Malaysian was charged at the Sepang Sessions Court with supporting the ISIS terrorist group.

Mohamad Fauzee Ahmad allegedly entered Syria between June 29 and Sep 18 to lend support to terror activities involving firearms and explosives.

The 43-year-old was reportedly seen as advancing a religious struggle in Syria.

If convicted, he could be sentenced to up to 30 years in jail, or face a fine and forfeiture of assets used in the commission of the offences under Section 130J(1)(b) of the Penal Code.

Judge Nor Haffizah Mohd Salim reportedly set January 15 for mention. DPP Ishak Mohd Yusoff prosecuted the case.

Fauzee is the third person to be arrested upon returning from Syria, where ISIS is operating.

The other two arrested and charged were Muhammad Fauzi Misrak, 32, and Mohammad Na’Im Abd Rashid, 26.

They were reportedly charged on Nov 11. Fauzi’s case is due for mention on Dec 19 while Na’Im’s case is on Dec 15.

The duo had allegedly fought for ISIS between Dec 13 last year and July 14.

They were arrested with 12 others between Oct 15 and Oct 17.

On Tuesday, The Malaysian Insider reported that at least five ISIS militants had returned to Malaysia, but lack of proof was holding back police from arresting them.

According to a senior intelligence source, under Sosma, there were a number of boxes which police needed to tick.

“Getting statements from sources in the Middle East to confirm that a Malaysian citizen was there fighting alongside ISIS forces is insufficient,” the official said.

“Police must build a strong case before a Malaysian suspect who fought alongside Isis forces in the Middle East can be charged in court here.”

On Monday, Deputy Home Minister Datuk Dr Wan Junaidi Tuanku Jaafar told Parliament that Malaysian ISIS fighters were returning to spread militant ideology in the country.

He said police checks showed that those who returned were not driven by disillusionment or the desire to surrender to the Malaysian authorities, but to influence and recruit others.

“The police are monitoring and they know, those who opted to return are doing so because they want to influence other Malaysians to join their cause, regardless if they are Muslims or not.”

39 Malaysians have been officially identified as being involved with Isis in Syria, whose aim is to set up an Islamic caliphate in the region.

The New Straits Times, however, reported that there were 45 Malaysians in Syria and 15 in Iraq.

It also reported that police may have difficulty in tracing exactly how many have returned as their departure from Malaysia to Syria was not properly tracked.

Between January and June this year, police arrested 23 people in various parts of Malaysia over alleged links to the terror group.

The Malaysians fighting alongside Isis forces in the Middle East were influenced to take up the struggle via social media, intelligence sources previously said.

Some, like former Kedah PAS Youth information chief Lotfi Ariffin who was killed in Syria, had not only posted about his activities with the militants on Facebook, but had issued call-to-action messages, too.

To date, five Malaysians have been killed in action in Syria. THE MALAYSIAN INSIDER

Source: www.todayonline.com

November 23, 2014
ESM Goh Underwent Surgery For Prostate Cancer

SINGAPORE: Emeritus Senior Minister Goh Chok Tong underwent a successful surgery for prostate cancer on Saturday (Nov 22), according to a news release issued by the office of ESM Goh.

His doctor, Dr Sim Hong Gee, a senior consultant urologist in Gleneagles Hospital and visiting consultant at Singapore General Hospital (SGH), said Mr Goh is expected to make a full recovery as the cancer was localised and detected early.

Mr Goh will remain at SGH for a few days for observation.

WELL-WISHES FOR ESM GOH

Manpower Minister Tan Chuan-Jin asked his followers to join him in wishing ESM Goh a smooth and speedy recovery in a Facebook post on Saturday evening.

“ESM had earlier told me of his condition. It was detected early and the operation was successful. The doctors believe that he should have a full recovery.

Take care ESM!” the post read.

November 23, 2014