Have you ever had to attend vocational training whilst you were an undergraduate? Or perhaps, after graduating with a degree, you need to complete a minimum period of working life as a trainee or pupil or houseman before you could qualify as a professional? How much were you paid during those period of work?
It is not surprising to find that many would answer a couple of hundred bucks. Perhaps in the region of RM500 to RM800 a month during those couple of months of compulsory training. Most employers deem this period of training as “doing the undergrads or graduates a service or favour” because otherwise, the latter would not be able to obtain the necessary qualification. Hence, they have no right to question or demand higher wages.
I beg to differ. And I will state why. Read more
If you think that customers are always treated like kings, the adage has lost its meaning when it comes to dealings with banks especially when it comes to applications for banking facilities like personal loans or secured loans. The illusion that a customer’s needs come first takes a back seat when the customer has to face the huge corporate figure and financial muscle of banks.
Banks are quick to come up with promises of cheap loans which would, in most instances, entice a prospective borrower to apply for these loans. However, that’s as much “friendliness” one can expect from the banks. What the borrowers would see (if they would open up their eyes and read the fine prints, which unfortunately most don’t) is that the banks retain much, if not all, discretion in the deal. There is hardly any sniff of a chance to negotiate the terms of the loan with the banks unless, you happen to be Bill Gates. But the again, Bill Gates probably doesn’t need a loan, does he?
A scrunity of the application form would show that in most instances, the borrower grants power to the banks to conduct credit checks on the borrower, subject to local laws and regulations in respect of data protection. Though the borrower can opt not to empower or authorise the bank to conduct such checks, it is likely that the application would be grossly delayed or rejected.
Next, when the terms of the approved loan are laid before the borrower for the borrower to affix his signature, the borrower can forget about any notion of amending any of the terms which, through my experience, are lop-sided in favour of the banks. “These are our standard terms”, they say. In other words, “Take it or leave it”.
I know I am stating the obvious. And I am stating it again. You don’t have bargaining powers with banks. That’s life, isn’t it?