I got one question then, so if lets say I invested 200k I one go, one year later I take out all the money in asb, then can I re-invest again??

so theoritically speaking then the limit isn't 200k then??

given scenario, I invest 200k max to the limit, one year later got 250k (e.g), then I took out rm249,990 because I got emergency need to use the money and leave rm10 to keep the account active. then after that I still can invest rm199,990 into the same account ah??

sorry bit confused here...

ahahaha....I think you misunderstood the term 5k extra...

what its supposed to mean was, you borrow 20k from bank, 5 years later, what ever the investment had increse, the bank will only give you 5k, the rest they take as loan repayment and loan interest.

but my cousin said you cannot take the money out from asb, they will keep the book. scared you will use the money and go kaput.

so literally speaking, the bank is giving you free money of 5k over the period of 5 years.

its more or less like fixed deposit la I would say. but instead of you need to fork out money yourself as in normal fixed deposit, this asb loan give you money to put in this fixed deposit

---

Added on January 9, 2008, 5:11 pmadd on, in my opinion asb loan is only good if you really don't have the money.

another option is, you know there are lots of non bumi want to invest in asb but they can't, so they look around bumis that can share with them, the non bumi supply the money, the bumi open asb account, then they will share the dividend. try ask any of ur non bumi fren if they interested

which one is better is depends on bank loan interest vs dividend sharing with your partner, and some terms and condition, so u might want to do some calculation.

---

Added on January 9, 2008, 5:34 pmhmm....their system must b complicated...

another scenario...hehe

I invested 180k 1st time, 2 years later I got 250k, I take out 249,990. then when I want to reinvest again, 249,990 is the maximum amount that I can reinvest without using my credit limit, and I can only top up another 20k maximum. am I right??


This post has been edited by ah_suknat: Jan 9 2008, 09:53 PM

thanks for the clarification bro

after some thought, I think getting a bank loan to invest in asb is actually better, but with some terms and condition to make it more advantage.

as I had mentioned, my cousin told me that the bank have this type of scheme where by they give you this loan just to invest in asb under your name, the condition is you can't take the money out and the bank will keep the account book, for a certain period, say 5 years. In the end of the 5 years term they promise to pay you a xxx amount of money, say 5k. so if you took the loan scheme, you virtually don't need to fork out money to invest in asb, you ALSO don't need to fork out money to pay the loan too!

in short, its like hitting 2 birds with one stone, you get your dividend from the loan, and you can use your own money to increase your investment.

sounds too good to Be true?? IMO that's how bank earn money too, bank wanted to invest in asb as well but they can't because of the quota system, so the scheme is llike indirectly using the public's name to open massive asb account for them, which in return give 'borrower' dividend. this scheme work exactly the same with finding a non bumi to sponsor money to bumi to open account.

thats why I am scratching my head trying to figure out what ur saying

I am your opposite...my dad a chinese and my mom a kadazan...I am not a bumi... all my money I throw to my mom's asb, if full, I will throw to her siblings's and cousin's asb.

its usually higher than 7 percent, if the asb account is more than 10 years old,the account is entitled to enjoy extra year end bonus which increase around 1-2 percent extra.

ASB if you want a peace of mind

unit trust if you want a lil bit of risk but lil bit higher interest.

[quote=foofoosasa,Mar 16 2008, 11:56 AM]
[quote=ah_suknat,Feb 11 2008, 08:02 PM]ah_suknat,my situation as same as you,but i am able to open asb account for myself.1 year ago,i still unable to open it,until lately,the person who working there told me the policy has changed.u may open your account since you're half bumi.1 year ago,they reject me because my name is chinese name =.=what a stupid excuse.but now they say they have loosen the requirement such as your situation to open asb account.FYI,i just open it at this year 2008 JAN.
[/quote]
wow! is that true?? if its true that's fantastic!

but now me in oversea, kriel bro, can a person open an asb account on behalf of me? family member for example.

this is great...!

too bad then... =.=" nyway...thanks for that.

---

Added on March 24, 2008, 7:04 amwa seh.....so mafan one... my grandma birthcert already hancur you also sino kadazan ah?

This post has been edited by ah_suknat: Mar 24 2008, 07:04 AM

ASB loan is good ONLY if you don't have ANY MONEY to invest in the 1st place at all. its NOT a good way to maximize profit from ASB. but still better than none.

---

Added on March 29, 2008, 7:18 pmI am not really sure, what I have "heard" is Amanah saham National got many investment like ASB, ASW, ASM, ASD etc etc, if they make any profit they will put the most profit into ASB 1st, then only distribute the profit to the rest, that's why ASB is the most divident gained among all ASN investment.

This post has been edited by ah_suknat: Mar 29 2008, 07:18 PM

so you mean eventhough we have 1 mill accumulated money in ASB, they will still only add the interest rate base on 200k? , oh gawd that's another sadthing to hear after the downfall of palm oil price

why earning money is so hard!?

hi guys...want to ask how do they calculate the divedend?

say end of financial year 2008(December) they announced the interest rate is 10 percent. In January 2008 I put in 100k and 8k everymonth subsequently for 11 months until december(total money invested =188k).

so how much money in divedend will I received? will it be different if I put 188k cash on November 2008? thanks in advance

I c.... thanks bro!

but you forget(or purposely didn't mentioned) about the transaction charge which is almost 4-5 percent.

rm50 out of 420 is 11.9 percent. imagine if you max your asb at 200k, that's a whopping rm23800 free money!!!

there are still much dispute whether the government want to recognize sino-kadazan as bumiputra or not. but if you are pure kadazan, no need to redo cert la, they are pure "bumiputra", like the red indians in the state, even purer than Malay.

hi vivien, your a sino too?

lol...you guys still haven't settle it? so how? 200k or 220k?

anyway, bro milesandmore, you are right, I have checked the section 2(1)(b) defination of native, it was stated that a person whose any parents is a native should be classified as a native as well.

I have ask my sister to go to asnb building to ask, will see how it goes. too bad I am not in Malaysia now, otherwise I am going to carry the whole perlembagaan book and throw into their face

so you got 200k max in your asb?

so what do you with the dividend? leave it there or put into another asb account?

yeah...apparently that's what milesandmore said...its only compounding to maximum 200k.

but imagine if someone got 1 mil in asb after compounding so many years, at average of 10 percent(9+1) that would be 100k free money a year...that's crazy...

so the best thig to do is to take out the dividend earn from the max-ed asb into another asb account...like wife or other family member..