Correct right my explanation on what you are doing?

If what I said is right, one already have the money to settle. The question is no point settling if there's 0% interest balance transfer. Can defer payment and earn interest while waiting to settle the payment without penalty

Eg. Can pay RM12k now and earn no interest/return. But with balance transfer, one can postpone payment to say 6 months before paying the full RM12k. Earn 6 months interest. Then when approaching the 6th month, find another place to do balance transfer and defer the payment further for another 6 months. That way, one get 12 months of balance transfer. That RM12k is earning money for 12 months while you are waiting to pay it in full (when there's no more balance transfer).

Gen-X taught this trick before. One can use this method to earn extra money while waiting to settle the debts in full without incurring any penalty or cause a blacklist of name provided one have money.

For those who reported this post, thank you very much. Why?
- Don't be jealous that someone is using amanah saham to earn extra pocket money from the bank.

This post has been edited by Ramjade: Aug 12 2017, 08:38 PM

I don't think all banks charge you fees for doing balance transfer. Some have 0% fees, 0% interest.

I believed in Gen-X. He already showed it's feasible by using FDs. This is using amanah saham (higher returns than FD). As mentioned by him, before doing a balance transfer, make sure we already have cash ready to pay it off or else stay away from balance transfer.

I actually agree to using this method to earn extra pocket money. After all, is money we use everyday (groceries, petrol, bills) not like we go out of the way (buy expensive item just to do trick which I believed is stupid).

Why pay off early when bank let you postponed payment without penalty? Let your money work in between. This method have been used by
- Gen-X
- Mr Stingy

This post has been edited by Ramjade: Aug 13 2017, 11:25 AM

Is there really a fee as what Jackieboy said (RM200/transfer)?

Thanks for the heads up.

Say you have RM1000 (BT is usually more worth to do if have >RM5k or more) in card A. Limit is RM2k. Apply new card from Bank B with limit RM2k. Ask Bank B to absorb all debts on card A. When that happens, Bank B pays bank A in in full and takes over the debts from Bank A.

Now,
Card A - RM0k debts, RM2k limit
Card B - RM1k debts, RM2k limit

Now you have 6 months to pay back Bank B RM1000 (since there's no fees, no interest). You now have RM1000 "free" to do what you want for 6 months. This RM1000 which you set aside initially to pay off Card A. Since you have 6 months to pay Bank B, you can put your money into that RM1000 into whatever you want (FDs/Amanah saham/unit trust/stocks) to get extra pocket money.

At the end of 6 months, if there's no more free BT (you can do a BT back to bank A if they are having a BT program that time and continue the cycle), you take out them RM1000 (provided you didn't make a loss) and settle the RM1000 in full with Bank B.

Of course all this while your bank B limit is left with RM1000 only. To prevent losing the RM1000 capital, people will put into FDs. This is the first time I heard of people utilizing Amanah saham in place of FDs.

You should have learnt this from Gen-X before he went MIA.

MyASNB

This post has been edited by Ramjade: Aug 13 2017, 02:01 PM

Well it was an old post. However, as he mentioned, money need to be big for it to work. Any idea why did he stop writing?

This post has been edited by Ramjade: Aug 13 2017, 02:16 PM

Do you have ASW2020/ASM/AS1M already? If don't have, no need tot talk about myASNB.
If yes, go to any agent bank, update your phone no, then register online.

Then just go to bank, update details, then register online.

No. Avoid at all cost. If you are bumi, stick with ASB and ASB2.
If non bumi, ASW2020, ASM, AS1M

How can be either Bumi or non bumi? ASNB is only for malaysians. And mlaaysians are divided into 2. If org asli, is bumi putra. If lain-lain could be non bumi lo.
Is not open to foreigners.

That's memang official answer. But we know better Units are available to be purchased provided some one sell theirs.

Simple
1) service charge of 5.5% which means the fund need to perform more than that to just break even.
2) Better funds exist (Kenanga Growth fund can be bought via FSM MY). KGF have been shown able to beat this ASG for 10 years+ Now do you still want to put money with ASG?
Of course, there are other better funds than KGF too but I use KGF vs ASG because both invest in bursa saham. If you buy KGF via FSM MY, service charge is only 1.75%.

Think of it like FD. Put in money, after 1 year, they will give you min 6%. If you don't withdraw, it will be rollover and next year you have more money; original money + 6% money + new 6% monwy (this is compounding at work).

Instead of FD where you need to go chase banks for best rate (in the range of 4%+), this is set and forget at 6%+ will roll into your account every year. Plus point, you can withdraw anytime and still get the return provided you still have some left over money inside unlike FD where you forfeit your interest if you withdraw early.

Now, if you don't withdraw anything, basically your original money will double some where in the 10th-11th year. (rule of 72. 72/6 = 12 year)

When you sell your units, you get your money lo. But keep in mind, lots of people will snap up the units you sold

This post has been edited by Ramjade: Aug 14 2017, 12:07 AM

Wah macam itu pun boleh. The question is how they withdraw money without IC???

Actually can. You don't withdraw Ester bond, value will keep increasing mah.
Same for KGF. If the fund manager keep buying the same counter with the dividends, he/she is basically compounding it.

Eg. Amanah saham is really compounding at work. Every year you get 6%. As long as you don't touch that 6%, next year, you get 6% on top of original money + old 6% returns.

For other unit trust, if you don't withdraw, later the value drop, it needs time to catch back up.

Wrong. Unit trust dividends/distribution are not like amanah saham fixed price dividends. Why?
When they give you say 1%, the NAV of unit trust will also drop by 1%.

So in actual fact, unit trust dividend does nothing

This post has been edited by Ramjade: Aug 14 2017, 10:28 AM

No. Reasons:
1) ASM is very easy to get so my ASM is the highest
2) ASW is hard to get so of course it's smaller than ASM. But I have topped it up
3) Leave AS1M aside (the least amount) cause I prefer to topup ASM and ASW
4) Decide to shift my money elsewhere for better returns
- Putting money into amanah saham = opportunity loss
- Also putting money in amanah saham doesn't protect my money from depreciating.
- Only recently have I come back to amanah saham as a temporary parking place

It's entirely up to you. It may be right in that way. Or if you prefer to be paid out 3x/year, then invest in all 3. No harm getting paid 3x/year vs only 2x/year.

ASW, ASM, AS1M can be bought anytime. Doesn't need to wait for end of the financial year.

Yes. But as I said if they give you 7 sen worth of dividend/unit, the NAV will drop by 7 sen. Then then they add in back this new units into your holdings. Hence, nothing change. Give you 7sen dividend, NAV will drop by 7sen.

In stocks, say ori price is RM1. Give you 7 sen dividend, by right the price should drop to RM0.93. However the price can just drop say RM0.98 only/maintain at RM1 or even increase say to RM1.03

That's why unit trust dividend and stock dividend are different story. Unit trust dividend, no change in overall value.
Stocks dividend as mentioned above, up to the market sentiment

ASM and ASW are more or less the same. AS1M seems to always kena hentam by bad results (maybe just luck that market didn't perform well all the way until dividend day?). However, if you take long term view, all 3 more or less the same.

Yes. Based on the lowest amount you have inside for that month.

Yes that's right.

Eg.
You have RM10k already all this while.
Eg 1
1/8 until 31/8 didn't topup
Dividend for month of August will be RM10k x 1/12 x 0.06

Eg 2
1/8 - topup RM1k, no more topup after that
Dividend for month of August will be RM11k x 1/12 x 0.06

Eg 3
2/8 - topup RM1k, no more topup after that
Dividend for month of August will be RM10k x 1/12 x 0.06 (lowest amount)

Eg 4
15/8 withdraw RM1k, no activity after that
Dividend for month of August will be RM9k x 1/12 x 0.06 (lowest amount)

That's why people who want to maximise dividends will topup on 30/31 of the previous month and 1st of the present month