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

It's 100% 200k. I know because i have been a ASB account holder for several years

so you got 200k max in your asb?

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

So you mean no matter how much we have above 200K in our ASB, we will still get the dividend based on the announced percentage on a maximum of 200K ONLY ?

This is not compounding then. Then this is not really good anymore.

I believed for ASM and ASW2020, the dividend is based on the available amount inside the account every month, thus, no maximum cap. This would be based on compounding effect.

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..

No. I never said i have 200k in my ASB account. Some of my relatives do, though.


Usually people will withdraw it. Deposit it into other banks.


Yes. A maximum of 200k only. A year you will be able to get RM16k - RM19k from interest + bonus.

its not 200k
its compounded

for sure it is 200k,it is only compunded until the account reaches 200k.
just think for a while,if it is really compunding after reaching 200k,why in the world they put a limit of rm200k then.

just my 2cents.

the 200 is the limit you can put in
after that its compounded

@ttwangsa

what is the reason for having that limit then?or have u already tried investing 200k in ASB for at least 2 years?

This post has been edited by backspace66: May 30 2008, 10:50 PM

i have a friend who works for PNB.

You really have got to listen to those who already have RM200,000.00 in their ASB accounts for years !!!!

By the way, just in case some of you didn't know, anybody less than 18 years old can only buy a maximum of RM10,000.00.


You are so right, backspace66 !!

This post has been edited by MilesAndMore: May 30 2008, 11:26 PM

MilesAndMore,

you sure?
it says on item 2 of your statement 2007
JUMLAH PEGANGAN = (number greater than 200,000)

and on item number 3
PENGAGIHAN PENDAPATAN EXACTLY (16,000) ?

you had minimum, 200k+ through the whole 2007
and the dividend they paid you was exactly 16k?
you should complain.

I don't have RM 2xx,xxx in ASB,
but that's what i've been told.

its compounded
for example
if you have RM 350,000.00 in 1 january 2007,
and never withdraw, till 31 dec 2007,
you get 22,400.00 in dividend,
and depending on how long you have been saving,
you get your bonus.

the 200k limit imposed is so that you cannot add more cash
once it reaches 200k
so
if you have RM 350,000.00 in 1 january 2007,
you cannot put in more cash
maximum it can go is
22,400.00 in dividend.

I don't understand what you are saying. But let me dig out my ASB statement first, then i'll get back to you.

---

Added on May 31, 2008, 2:21 amSomeone has confirmed me that dividend + bonus is calculated from 200K, even if you have 236K in your account the previous calendar year.


This post has been edited by MilesAndMore: May 31 2008, 02:21 AM

Guys, see my previous post on dividend and bonus calculation:
http://forum.lowyat.net/topic/347861/+779

Yes its compounded. But not monthly compounded, its yearly compounded as the dividend is only credited at beginning of next year.

Yes if you have reach 200k limit, its is still compounded.

Do distinguish Dividend and Bonus, Dividend calculated based on average lowest monthly bonus for 12 months, while bonus (for ASB) calculated based on average lowest monthly balances for 120 months (12 years)

Then I think the compounding effect acts on the total amount, and NOT only on 200K. It's just you are not allowed to put in more than 200K. But whatever you earned from the compounding after putting in a max of 200K is allowed and shall be compounded year after year.

Using the Rule of 72, if you have put in the max of 200K in the ASB Account, and you are earning an interest rate of 10%, it will take approximately 7.2 Years for this 200K to double into 400K.

ok.
saw my dad's asb.
dividend is more than 16k for year 2007.
so
confirmed.
its 8% of TOTAL
not 8% of 200k.

---

Added on June 2, 2008, 5:31 pmvergas
120 months true
12 years, not true
its 10 years

This post has been edited by ttwangsa: Jun 2 2008, 05:31 PM

Ops... sorry, something must be wrong with my calculator.

I agree with ttwangsa. The dividend is calculated on the total, not just 200k.

And here is another thing:

If you already put 200k and then got 16k dividend after first year, your total now is 216k right? The limit is also increased to whatever balance you have now. For instance, if you take out 50k, you are left with 166k, but after a while you want to put back money in. How much can you put? 34k (cause limit is 200k), or 50k? The answer is 50k, bringing your balance back up to 216k.

The limit increases with your dividend, and it does not reset to 200k.

thank you for agreeing with me
but..
i don't agree with you on the limit.
let me confirm with my PNB friend.