hi, Gin,
Does it mean if I was unable to show proof of RM10,000/monthly pension but do have RM500,000 in fund or bond, I'm eligible to apply? Please verfy.
Although the RM10,000 amounts are the same, there's a big
DIFFERENCE between monthly (support) income and monthly government pension option.
The government
pension is an alternative application option to the Fixed Deposit for those over 50.
The monthly
income (which I designate "support" to distinguish it) is required for the
FD option, irrespective of age, as part proof of ability to support the stay in Malaysia.
This site understands that approval via a government pension is difficult to get.
Application via the Fixed Deposit OptionCash in the bank of RM500,000 (RM350,000 for over 50) and a monthly
INCOME of RM10,000.
Application via Monthly Pension OptionRM10,000 monthly government
PENSION, and RM200,000 cash in the bank.
As golfer has posted, it's cash in the bank that counts. Golfer's right on this. My earlier post that it could be in assets bonds/shares) was inaccurate and I've changed it. I meant to post that assets (property, shares, bonds etc.) in addition to the cash will assist the application, but it didn't come out that way. Also the RM500,000 cash amount posted applies to under 50 and I've clarified this as follows :.
At the moment you need to show at least RM500,000 (under 50) or RM350,000 (over 50) in cash. And a support income of RM10,000 per month. It's this bit that is causing a hiccup for some folks. The support income is proven via 3 months worth of bank statements.
Any assets, such as property, shares, bonds etc. can be included as an extra to the cash to enhance the overall financial amount.
So the answer is that your application would have difficulty unless you can come up with the RM10,000 monthly support income. Check your situation with Yvonne at Joy-Stay (Joy-Stay.com) on her site's quick assessment.
regards, Scott