Profin Elite Group

𝗠𝗼𝗻𝘁𝗵 𝗲𝗻𝗱 𝗮𝗴𝗮𝗶𝗻.
𝗬𝗼𝘂𝗿 𝘀𝗮𝗹𝗮𝗿𝘆 𝗰𝗼𝗺𝗲𝘀 𝗶𝗻 𝗮𝗻𝗱 𝗶𝘁 𝗶𝘀 𝗮𝗹𝗿𝗲𝗮𝗱𝘆 𝗴𝗼𝗻𝗲.
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Every month our clients tell us the same thing.

They have cut back.

No more eating out.

No more small treats.

They are careful now.

And the debt still looks the same.

They think they are failing.

They are not.
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𝗧𝗵𝗲 𝗺𝗮𝘁𝗵 𝗺𝗼𝘀𝘁 𝗽𝗲𝗼𝗽𝗹𝗲 𝗻𝗲𝘃𝗲𝗿 𝗱𝗼

Say you owe RM30,000 on your credit cards.

Bank Negara caps card interest at 18 percent a year.

That is RM450 every month.

And that is only the interest.

It does not touch what you actually owe.

So if you pay RM450 a month, your balance does not move.

Not by one sen.

Cutting your spending is still worth doing.

But it cannot beat a rate that keeps refilling the hole.
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𝗪𝗵𝗮𝘁 𝘁𝗵𝗲 𝗿𝗲𝘀𝗲𝗮𝗿𝗰𝗵 𝗳𝗼𝘂𝗻𝗱

Two researchers, Stango and Zinman, looked into this.

Their study was published in the Journal of Finance in 2009.

They found that people almost always guess a loan rate lower than it really is.

Our brain sees money growing in a straight line.

Interest does not grow in a straight line.

They found one more thing.

People who make this mistake borrow more and save less.

And they are the ones who gain the most from proper advice.
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𝗪𝗵𝗮𝘁 𝗮𝗰𝘁𝘂𝗮𝗹𝗹𝘆 𝘄𝗼𝗿𝗸𝘀

Look at the rate, not only the monthly payment.

Ask what your real rate is, not the one on the poster.

Then find out if that rate can be changed.

Being careful keeps you steady.

The rate decides how fast you get out.
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What is one thing you cut this year that did not seem to help?

𝐘𝐨𝐮 𝐜𝐚𝐧 𝐚𝐬𝐤 𝐲𝐨𝐮𝐫 𝐛𝐚𝐧𝐤 𝐟𝐨𝐫 𝐡𝐞𝐥𝐩 𝐛𝐞𝐟𝐨𝐫𝐞 𝐲𝐨𝐮 𝐦𝐢𝐬𝐬 𝐚 𝐩𝐚𝐲𝐦𝐞𝐧𝐭.

Most people wait until after.

By then you have fewer options.

On 8 July, the Ministry of Finance said banks are giving targeted help to borrowers hit by global supply shocks and the conflict in West Asia.

𝐓𝐡𝐞 𝐭𝐡𝐫𝐞𝐞 𝐤𝐢𝐧𝐝𝐬 𝐨𝐟 𝐡𝐞𝐥𝐩

1. A temporary payment moratorium.
2. A reduced instalment.
3. A longer loan tenure.

Since late April, banks have received and processed rescheduling and restructuring applications worth more than RM4.7 billion.

And this is not a one off scheme.

Rescheduling and restructuring is a standard process.

You can ask any time your cash flow changes.

𝐓𝐡𝐞 𝐩𝐚𝐫𝐭 𝐧𝐨𝐛𝐨𝐝𝐲 𝐦𝐞𝐧𝐭𝐢𝐨𝐧𝐬

It goes on your CCRIS.

Your account gets tagged as rescheduled and restructured.

For personal loans and other retail accounts, that tag only lifts after 12 months of payments made on time under the new terms.

The 12 months must be continuous.

It used to be 6.

Bank Negara doubled it in December 2024.

𝐒𝐨 𝐰𝐡𝐚𝐭 𝐬𝐡𝐨𝐮𝐥𝐝 𝐲𝐨𝐮 𝐝𝐨

If your cash flow is genuinely broken, take the help.

A tag on your report beats a default on your report.

If you are still paying everything on time and just feel stretched thin, you have better options right now, while your record is still clean.

The best time to fix this is before you need rescuing.

Sources: Ministry of Finance statement, 8 July 2026. BNM Credit Risk policy document, December 2024.

𝐈𝐧 𝐌𝐚𝐫𝐜𝐡, 𝐛𝐚𝐧𝐤𝐬 𝐚𝐩𝐩𝐫𝐨𝐯𝐞𝐝 𝐑𝐌𝟓𝟓 𝐨𝐟 𝐞𝐯𝐞𝐫𝐲 𝐑𝐌𝟏𝟎𝟎 𝐚𝐩𝐩𝐥𝐢𝐞𝐝 𝐟𝐨𝐫.
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By April, RM49.
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Same banks.
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One month apart.
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Six ringgit less.
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𝐖𝐡𝐚𝐭 𝐜𝐡𝐚𝐧𝐠𝐞𝐝
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Analysts called it a more cautious lending stance.
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Not a rule change. Not a new policy.
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Just banks quietly getting stricter.
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𝐓𝐡𝐞 𝐨𝐭𝐡𝐞𝐫 𝐬𝐢𝐝𝐞
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2026 has still been a better year than 2025.
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Research from RHB shows the value of loans approved in the first five months grew faster than the value applied for.
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So the year started strong.
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It is the direction since March that matters.
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𝐖𝐡𝐚𝐭 𝐭𝐡𝐢𝐬 𝐦𝐞𝐚𝐧𝐬 𝐟𝐨𝐫 𝐲𝐨𝐮
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Your DSR still decides.
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Your CCRIS still decides.
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None of that changed.
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What changed is how much room the bank has to say yes.
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If your plan is to wait until things feel calmer, look at those two numbers again.
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The door is not opening.
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Source: BNM banking statistics, via Kenanga Research and RHB Research.
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𝟭 𝗝𝗮𝗻 𝟮𝟬𝟮𝟳: 𝗕𝗮𝗻𝗸 𝗡𝗲𝗴𝗮𝗿𝗮 𝗸𝗶𝗹𝗹𝘀 𝗳𝗹𝗮𝘁 𝗿𝗮𝘁𝗲 𝗹𝗼𝗮𝗻𝘀.

And that is exactly the problem.

𝗪𝗵𝘆 𝗕𝗡𝗠 𝗶𝘀 𝗯𝗮𝗻𝗻𝗶𝗻𝗴 𝗶𝘁

Flat rate charges interest on your full loan amount.

From the first month to the last.

RM100,000 at 5% flat for 10 years.

Interest is RM5,000 a year.

In year 9, you only owe RM10,000.

But you still pay interest like you owe RM100,000.

Total interest: RM50,000.

Locked in from day one.

Pay early, save nothing.

BNM decided this is unfair.

From 1 Jan 2027, all new personal loans must use reducing balance.

Interest only on what you still owe.

𝗧𝗵𝗲 𝗽𝗮𝗿𝘁 𝗻𝗼𝗯𝗼𝗱𝘆 𝘁𝗲𝗹𝗹𝘀 𝘆𝗼𝘂

The ban only covers new loans.

The flat rate loan you signed 3 years ago?

It stays flat rate until the final payment.

The regulator called the method unfair.

Your contract keeps it anyway.

Anyone holding a flat rate loan today will keep paying under the old rules.

𝗢𝗻𝗲 𝗺𝗼𝗿𝗲 𝗰𝗵𝗮𝗻𝗴𝗲 𝗰𝗼𝗺𝗶𝗻𝗴

From the same date, borrow above RM100,000 and you must complete a short financial education module first.

About 15 minutes, through AKPK or your bank.

RM100,000 is the bankruptcy threshold in Malaysia.

BNM wants you to see the full picture before you cross it.

So check your offer letter tonight.

If it says flat rate, you now know what you are really paying.

And you know there is a date on the calendar when better structures become the law.

What you do between now and then is the part worth planning.

𝗔 𝗰𝗿𝗲𝗱𝗶𝘁 𝗰𝗮𝗿𝗱 𝗰𝗮𝗽𝗽𝗲𝗱 𝗮𝘁 𝟭𝟰%. 𝗜𝘁'𝘀 𝗿𝗲𝗮𝗹.

On 8 July, PM Anwar thanked the banks for a new product.
It's called Kad Kredit Asas.
The Basic Credit Card.

The idea is simple:
- No air miles.
- No cashback.
- No lifestyle perks.

Just lower cost.

𝗪𝗵𝗮𝘁 𝗺𝗮𝗸𝗲𝘀 𝗶𝘁 𝗱𝗶𝗳𝗳𝗲𝗿𝗲𝗻𝘁

Interest is capped at 14% a year.
Regular cards charge 15% to 18%, depending on your payment record.

Credit limits will be set tighter.
That's on purpose.
It pushes careful spending.

𝗧𝗵𝗲 𝗽𝗮𝗿𝘁 𝗺𝗼𝘀𝘁 𝗽𝗲𝗼𝗽𝗹𝗲 𝗺𝗶𝘀𝘀𝗲𝗱

You can transfer your current card debt to this card.
No transfer charge.

Say you owe RM10,000 and you carry the balance every month.
Moving from your current rate to 14% saves you RM100 to RM400 a year, depending on which tier you're paying now.

Not life changing.
But it's your money.

𝗪𝗵𝗮𝘁 𝘄𝗲 𝗱𝗼𝗻'𝘁 𝗸𝗻𝗼𝘄 𝘆𝗲𝘁

Full details are not out.
Reports say applications may open around October 2026.

Maybank Islamic, RHB and CIMB Islamic have confirmed they will offer it.

We'll share the eligibility rules once the banks release them.

𝗢𝗻𝗲 𝗵𝗼𝗻𝗲𝘀𝘁 𝗿𝗲𝗺𝗶𝗻𝗱𝗲𝗿

14% is still 14%.
A cheaper card is not free money.

The debt stays until you pay it.
And if your card debt has grown past what any card can fix, that's a different problem.

That one needs a plan, not a product.

𝐋𝐨𝐚𝐧 𝐫𝐞𝐣𝐞𝐜𝐭𝐞𝐝? 𝐈𝐭 𝐢𝐬 𝐧𝐨𝐭 𝐭𝐡𝐞 𝐞𝐧𝐝.

Banks don't reject people.
They reject applications.
And an application can be fixed.
Here are the real reasons banks say no.

𝐓𝐡𝐞 𝐛𝐢𝐠 𝐟𝐢𝐯𝐞

1. Your DSR is too high. Too much of your pay already goes to debt. This is the most common reason of all.

2. Late payments in your CCRIS. Two months behind is a red flag banks take seriously.

3. You applied to too many banks at once. Every application leaves a mark. Banks see it and get worried.

4. Your credit cards are maxed out. Full cards make you look stretched.

5. Missing documents. Simple, but it kills many applications.

𝐓𝐰𝐨 𝐭𝐡𝐢𝐧𝐠𝐬 𝐦𝐨𝐬𝐭 𝐩𝐞𝐨𝐩𝐥𝐞 𝐝𝐨 𝐧𝐨𝐭 𝐤𝐧𝐨𝐰

A rejection does not appear in your CCRIS report.
Bank Negara designed it that way.
So one bank's "no" does not poison the next application.

And every bank has its own rules.
The bank that said no is not every bank.
The fix is not to apply everywhere.

It is to fix the reason first, then apply to the right one.

Rejected is not the end. It is feedback.

𝐓𝐡𝐞 𝐨𝐧𝐞 𝐦𝐨𝐧𝐞𝐲 𝐛𝐨𝐨𝐤 𝐰𝐞 𝐭𝐞𝐥𝐥 𝐞𝐯𝐞𝐫𝐲𝐨𝐧𝐞 𝐭𝐨 𝐫𝐞𝐚𝐝.

"The Psychology of Money", by Morgan Housel.

The big idea: doing well with money is not about being smart.

It is about what you do, again and again.

We all know someone clever who is always broke.
And someone simple who quietly saved up.

Same pay.
Different habits.

𝐖𝐡𝐚𝐭 𝐢𝐭 𝐭𝐞𝐚𝐜𝐡𝐞𝐬

Wealth is what you do not see.

The car not bought.

The new phone not chased.

The money still in your account.

Small habits beat big plans.
Save a little, every month, for a long time.
That is the whole trick.

Luck is real.
So leave room for things to go wrong.
Because sometimes they will.

𝐖𝐡𝐨 𝐬𝐡𝐨𝐮𝐥𝐝 𝐫𝐞𝐚𝐝 𝐢𝐭

Anyone who earns money.
Short chapters.
Easy words.
No stock tips.
No get-rich-quick tricks.

Just how to think about money, calmly.

Nobody paid us to say this.
We just think it is worth your weekend :)

𝐅𝐫𝐨𝐦 𝟏 𝐉𝐮𝐥𝐲, 𝐲𝐨𝐮𝐫 𝐛𝐚𝐧𝐤 𝐡𝐚𝐬 𝐚 𝐝𝐞𝐚𝐝𝐥𝐢𝐧𝐞.

Here is something most people missed last week.

You know how it works.
Bank Negara moves interest rates.
Your home loan rate follows.
It is called a floating rate.

But here is the old problem.
When rates dropped, some banks took weeks to update your monthly payment.
Sometimes longer.
There was no deadline.

𝐓𝐡𝐚𝐭 𝐣𝐮𝐬𝐭 𝐜𝐡𝐚𝐧𝐠𝐞𝐝

From 1 July 2026, Bank Negara's new rule kicks in.
When rates change, your bank must update your instalment within 60 days.
That is the rule now.

From January 2028, it gets even tighter.
30 days.

Banks must also tell you clearly.
What changed, and what your new payment is.
No more finding out by accident.

𝐎𝐧𝐞 𝐡𝐨𝐧𝐞𝐬𝐭 𝐧𝐨𝐭𝐞

This works both ways.
If rates go up, your payment also adjusts faster.
The rule is about speed and fairness, not free savings.

But at least now, you know where you stand.
And when.

The next rate decision is on 9 July.
Now you know what happens after.

𝐏𝐚𝐲𝐢𝐧𝐠 𝐨𝐧𝐥𝐲 𝐭𝐡𝐞 𝐦𝐢𝐧𝐢𝐦𝐮𝐦 𝐨𝐧 𝐲𝐨𝐮𝐫 𝐜𝐚𝐫𝐝?

It feels safe.
The bank never complains.
But look at what it really costs.

𝐇𝐞𝐫𝐞 𝐢𝐬 𝐭𝐡𝐞 𝐦𝐚𝐭𝐡

Say you owe RM10,000.
You always pay on time, but only the minimum.
That is 5% of your balance, or RM50, whichever is higher.

Paying on time every month earns you the best rate banks can give. 15% a year.
That is the lowest tier under Bank Negara's rules.

Even at that best rate, here is what happens.
It takes you almost 7 years to clear the card.
And you pay RM3,109 in interest.

𝐍𝐨𝐰 𝐬𝐞𝐞 𝐭𝐡𝐞 𝐝𝐢𝐟𝐟𝐞𝐫𝐞𝐧𝐜𝐞

Same RM10,000.
But you pay a fixed RM500 every month.
Cleared in 2 years.
Interest RM1,579.

Half the cost, one third the time.

The minimum payment is not a plan.
It keeps you on the stairs, climbing but never arriving.

Pay more than the minimum, even a little.
Every extra ringgit works for you!

𝐒𝐚𝐯𝐞 𝐟𝐢𝐫𝐬𝐭, 𝐨𝐫 𝐩𝐚𝐲 𝐨𝐟𝐟 𝐝𝐞𝐛𝐭 𝐟𝐢𝐫𝐬𝐭?

Both feel right.
But the math has an answer.

𝐋𝐨𝐨𝐤 𝐚𝐭 𝐭𝐡𝐞 𝐧𝐮𝐦𝐛𝐞𝐫𝐬

A good fixed deposit pays about 3% a year.
Keep RM10,000 there, you earn RM300.

A credit card charges up to 18% a year.
Owe RM10,000, you pay RM1,800.

Saving while owing?
You lose RM1,500 a year.
Quietly...

𝐃𝐨 𝐢𝐭 𝐢𝐧 𝐭𝐡𝐢𝐬 𝐨𝐫𝐝𝐞𝐫

ONE.
Keep a small emergency fund first.
Even one month of expenses.
So one surprise bill does not push you back to borrowing.

TWO.
Attack the most expensive debt.
The one with the highest interest.
Every ringgit you clear there "earns" you 18%.
No savings account can beat that.

THREE.
Once the expensive debt is gone, save hard.
Now your money works for you, not the bank.

Simple order.
Big difference.