1 300 885 300 (local)
+603 2295 6888 (overseas)
FINANCING YOUR
CHILD'S EDUCATION
CHILD'S EDUCATION
Financial Solutions
Plan ahead for your child’s education by asking these questions
-
What is the cost of education?
-
What type of education institution – public or private?
-
What are the effects of inflation?
If you are planning to give your child an overseas tertiary education, the growing inflation rate and fluctuating exchange rate will make it more difficult for you to fund their education abroad.
Estimated cost of education today *
| Medicine (RM) | Engineering (RM) | Law (RM) | Business (RM) | IT (RM) | |
| Local | |||||
| Public | 12,710 | 8,550 | 7,740 | 7,560 | 9,040 |
| Private | 255,400 | 66,000 | 62,040 | 43,560 | 49,610 |
| Abroad | |||||
| Singapore | 326,822 | 92,709 | 88,788 | 78,923 | 92,709 |
| US | 641,351 | 473,432 | 233,324 | 233,324 | 473,432 |
| UK | 669,685 | 283,365 | 273,771 | 366,939 | 288,180 |
| Australia | 725,619 | 303,194 | 274,770 | 187,956 | 212,473 |
It is important to determine how much money you will need to support your child’s tertiary education, whether it is to be pursued locally or abroad. You will then have a clearer idea of how much you need to save.
Preparing for your child’s education
Choose an investment strategy that will give you capital growth and income yield over the long term, as well as diversify your portfolio to spread the investment risks. As your child grows older, you may consider a more conservative asset mix.More importantly, review and restructure your plan with your Relationship Manager on a regular basis to ensure that the rate of your investment growth is moving in tandem with the increasing cost of education.
Enjoy an array of benefits and privileges when your child is abroad
- Preferential rates on foreign remittance for your child's education purposes
- Service charges waived for global fund remmitance
- Service charges waived for cash withdrawals made at CIMB Bank ATMs across the region
- Extend the privileges and benefits of CIMB credit cards to your child via a supplementary credit card
Solutions for your needs
| Recommended solutions | Core benefits |
| Sun EduSmart |
A unique non-participating endowment plan that provides:
For more information, please click here
|
|
Dual Currency Investment What is it? This solution lets you invest in two major currencies of your choice Click here to view the product disclaimer |
Gives you an opportunity to convert your investment currency to an alternate currency of your choice at a specific pre-agreed conversion rate, while earning yield. Suitable for investors who may have a potential need for the alternate currency, such as planning for a child's overseas education. |
| Unit Trust |
A convenient way to gain exposure into professionally managed investment opportunities ranging from local to regional or global markets, which can potentially bring you higher returns compared to traditional deposits. |
| ASNB Variables Priced Funds |
Open ended equity funds that aim to provide you with a reasonable dividend yield as well as capital appreciation through investments in Malaysian equities, fixed income securities and money market instruments. The funds are managed by Amanah Saham Nasional Berhad (ASNB), a wholly owned subsidiary of Permodalan Nasional Berhad (PNB). |
| YOUth Savers Account |
Passbook-based savings account for children aged 12 years and below |
| Remittance (Kids Abroad) | Enjoy Preferential rates when you call our Preferred Call Centre to remit funds to your child in Australia or the UK. |
Explore more financial solutions in our Daily Banking and Financing Solutions and Regional Banking Solutions.
For a complete overview of planning ahead with CIMB Preferred, download our Education Booklet.
Speak to us about how we can help youFor assistance, please contact your Relationship Manager, call our CIMB Preferred Call Centre, visit us at a branch nearest to you, or write to us to schedule an appointment. |
*Source: www.studymalaysia.com
The information on this website is intended to be general information only and should not be taken as containing any advice or recommendation nor should it be interpreted as an offer to sell, solicit an offer to purchase or subscribe for any investment, insurance plan or any other product(s). It does not take into account the specific investment objectives, financial situation or particular needs of any person. You are advised to read the specific product terms and conditions, and obtain your own independent legal and financial advice before making a commitment to purchase the product. All facts and figures are correct at time of publication. The Bank shall not be held liable, for any loss, costs, expenses, damages, claims, actions and/or proceedings of any kind whatsoever suffered by you or any other persons of whatsoever nature and howsoever caused, directly or indirectly, for any decisions made by you or any other persons on their finances, investments or anything whatsoever.
Terms and conditions apply to all products and services.
Top
|
|
||||||
