Guys, I am noob on this and I need some advise on ASB loan. For a 25 years loan amount RM200k + RM4372 for the Takaful RTT.

The outstanding loan for ASB is RM583,706.17 before start paying. I read back the agreement, at the clause 1.1, it stated the following



The bank interests rate is BLR-1.65% per year. Which means the monthly installment would be around RM1190.
But I don't understand, RM1190*12*25=RM357,000, how to the RM583,706.17?

I am waiting for the banker to reply.

This post has been edited by Joshua_0718: Sep 23 2013, 11:35 PM

Is there a such thing call ASB1?

Yes, Islamic loan from Maybank Islamic.
It is stated in the agreement. I think it is the ceiling amount I would need to pay if the BLR increase more than 10%.

This post has been edited by Joshua_0718: Sep 24 2013, 12:47 AM

No wonder I am confused.

I just started ASN & ASB investment not long ago. That's why lack of info.

Noted. Will clarify with the banker. Got this from their website.

http://www.maybank2u.com.my/mbb_info/m2u/p...sonal/LOA-Loans

Roughly I understand how it worked. If the BFR increase, thus the selling price will increase.

BFR and Interest is not the same?

This post has been edited by Joshua_0718: Sep 24 2013, 01:10 AM

I am not a bumi but I can open ASB.
My banker ask: 'Can I actually purchase a bumi housing?'

I am actually none of them stated above.

This post has been edited by Joshua_0718: Sep 24 2013, 10:12 PM

I am Chinese. Chinese is non-bumi what.
I managed to get it through my mum who is a Eurasian (bumi), just show my mum IC & birth cert and my birt cert to prove that I am related to my mum, that's it.

Our whole family didn't know we can apply for ASB till recently when my sis-in-law colleague inform us.

We didnt know can apply under mum. Usually follow/under dad only all these while

Lain-lain kaum = bumi

There is more than that actually.

Can always invest on insurance.

Quick lame questions.

1. How those who took up ASB loan, we can actually pay more to reduce the principal once we have the money right?

2. Should I use the additional money to reduce ASB loan principal or look for other investment?

This post has been edited by Joshua_0718: Oct 1 2013, 01:55 PM

My advise is don't take 200k loan but 180k loan.
I took 200k loan already and not printed in the book, but a cert.

Maximum fund you can purchase is 200k. And you already have 20k in ASB.
Why want to take more loan and pay more interest?

Thanks for the clarification
So the passbook and certification are linked together?

Asking this again since I did not get any answer/advice on this.

Quick lame questions.

1. How those who took up ASB loan, we can actually pay more to reduce the principal once we have the money right?

2. Should I use the additional money to reduce ASB loan principal or look for other investment?

One question on the AS1M, if I have ASB account, will they count me into bumi quota straight away?
AS1M book will be different for different category? Will it state whether it is under which quota?

Ok. Cool. Because I am of the special case, ASN need to do verification on my background as I am a Chinese. I managed to get ASM through my mother bumi status.