Who Should Get BRIM and Why You Must Consider Having It?

The Bantuan Rakyat 1 Malaysia or BRIM is a financial assistance scheme that helps the people of Malaysia. This scheme has been available for the last few years and is gaining popularity. Every year sees few changes in the schemes, though the main principle of the financial assistance program is the same.

Last year saw a raise in the minimum monthly household income and a payout schedule that is slightly different from the previous years. That is why it is important, you keep yourself updated on the changes as and when they keep happening. You never know what you might be missing out on.

What exactly is the BR1M?

Those of you who do not have any idea on Bantuan Rakyat Satu Malaysia, might want to find out what it is actually. The people’s aid is a government scheme which is meant for low income earners. This scheme was founded in 2011 and has been going strong since. Initially, the government decided to help income earners will less than MYR 3,000 monthly income with a one-off cash payment of MYR 500.

However, with every passing year, minor changes have been affected on this program. The categories are married couple who have dependents, single individuals who have dependents, and senior citizens who are above 60 years and earn less than MYR 4,000 per month. Since its introduction, more than 4 million households have benefitted from the MYR 500 financial aid.

Terms and Conditions for being Eligible to the Financial Assistance Scheme

For households earning less than MYR 3,000 a month, the payout is MYR 950. For those earning a monthly income of less than MYR 4,000, the payout is MYR 750. Single individuals who are above 21 years old can receive MYR 350. Usually eligible candidates can obtain the payouts during the month of January, May, and September.

You will want to keep that in mind. The reason for that is to help them spend money wisely. The initiative helps people to save some money instead of spending it all.

Types of Submissions and Locations to Apply

The applications can be done through online and offline. Through online, you will need to go to the website https://ebr1m.hasil.gov.my/ and follow the instructions given. For manual submission, you will need to approach the offices present at any location in Malaysia which include Pejabat Cawangan dan Pusat Khidmat Lembaga Hasil Dalam Negeri, Pejabat Daerah dan Pejabat Lembaga Hasil Dalam Negeri di seluruh Negara, Jabatan Pembangunan Persekutuan, and others.

Candidates have to submit their bank details to ensure that they are real and no false accounts are present. Some of the banks which are eligible to provide you with the funding are Affin Bank Berhad, Agro Bank, Alliance Bank Malaysia Berhad, and others.

Hope you found the article on BRIM useful. If you are eligible and haven’t still registered for this financial assistance or perhaps were not aware of it, you will want to make sure that you get it done immediately. Make sure that you inform your family members, relatives, and others who are eligible for this financial scheme.

Author: Richard Casteel

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Richard is the chief author of this blog. He worked as a financial advisor in money market form last 10 yrs. His financial sense in Share trading and any other trading is just outstanding. He just shares his knowledge and experience through this blog. You can contact him directly though CFD-Providers.com.

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