Like I said, Muslim converts can invest in ASB



huh. That's weird. They consider Siamese and Portugese as eligible to invest in ASB but not Chinese and Indian? hurm...

Told you this once before, when the returns are annualized, ASB returns are nothing to shout about leh. Public Mutual funds like Ittikal is comparable

Thank god. It would suck so much if that happened. My phone will explode.


monthly installment la, not installation

I think so. Some Bumiputeras some Sabah/Sarawak needs to get some signing from their ketua kampung/ulu to prove that they are bumi. All these things are recorded in the NRD, but if got discrepencies you can address tehm

Distribution given/announced on 2nd January 2020 is based on investment/deposits made in 2019.

By the time you have paid your installments for the year 2019, and find out that ASB is not giving distributions (unlikely, but not impossible), it would already be too late. You already paid your installment (and thus the interest) to the bank for all the 365 days in the year of 2019.

Has to be Malaysian citizens though

why not just ask the Malays?

plenty of Malays who cant afford to pay RM993 a month

Did you tell them "JANGAN PERSOAL!!!" ?

That was the best opportunity to give it back to the man!

This post has been edited by wild_card_my: May 2 2019, 04:59 PM

above got someone who says he saw 10 Bumis in Alphad with 2m depositing them in their ASB.

nah, if she is bringing 2m, with 10 people, that is RM200k cash invstment (maxed out). not financing, no need to bother with financing.

Crime boss is an apt way of describing it.

I understand your concern. I have no idea. Maybe like how ahlongs secure their investments? Cut you with red paint if you lari? hehehe

"Can" has a lot of meanings. Technically? Sure. 1% is too little. Normal proxy is 10% of the dividend

Nah, not wrong section. Can do anything in Kopitiam.

Tongkat!

You can do either. The best answer is to determine the rate being offered in the future. Would it be better to refinance the 100k into a new 200k loan, or to keep the old 100k and just add another 100k.

For now, just take 100k first at 4.85% p.a.

Two banks have the best rate of 4.85% p.a. now

RHB

1. You can loan an absolute max of 200k, so your first method-attemp would not work

2. Asb2 is currently closed for all banks, only opening for a short while before closing again. You need to be lucky to be able to loan for asb2

So there... You may consider refinancing your asb1 finance if the rate is above 4.85% though

Its not just the lower interest. You would get the capital which you can further reinvest in asb as cash

Worth it

Yes. but if your interest rate is high anyway, you would recoup that "loss" within a year or two. For example, your current financing is 5.45%, and the best rate is 4.85%. The difference is 0.6%. If you have RM100,000 financing, you would have lost RM600 for that year alone. By refinancing, you would lose 1 month's dividend which is when calculated equals to:

RM100k x 6.5% /12 = RM541.

So you sacrificed a year's worth of dividend to save 0.6% interest each year.

Can you prove it? Or did you just pull it out of you behind?

We could do a sit down or I could try to explain it here.

Take this example, someone who refinanced at the 5th year, he would have earn back RM12k in capital.

So when he refinance, his capital would be RM200k (new financing), RM17k (the capital returned to him) and RM74k which is the dividend he has collected over the 5 years, for a total capital of RM291k. So going forward, in the next year his dividend would be calculated based on the RM291k capital.

Compare this to him staying put, his capital would only be be RM274k

You are essentially comparing 6.5% (expected dividend) on RM291k vs RM274k

Thank you.


yeap, but limited units You have to queue and wait for your turn/chance

Sorry, RM12k, not RM17k, as per the example. I was so used with a 30-year calculation that the new 35-year calculation threw me off. Just to be clear, all numbers and figures here is based on loan cancellation after the 5th year, for an RM200k loan with a tenure of 35 years at a rate of 4.85%

1. When you refinance, you current bank will sell off the collateral. The collateral would not change in value, it would remain as RM200k (in this example that is).

2. When the collateral is sold back to ASNB, the bank will get RM200k worth of cash. The bank will only take whatever loan balance which is RM188k, and the balance of RM12k would be returned to you.

3. When you get your new financing, you would get the full limit available to you, which is RM200k.

4. So now your capital is RM200k (new loan) + RM12k (returned capital from the previous loan) + RM74k = RM286k vs a capital of RM274k if you had remained with the current bank

5. When you choose to refinance, consider advantages below, if they are suitable, go ahead and do so:

a) lower interest rates than the ones you are currently experiencing
b) longer tenure (new products, longer tenure)
c) returned capital (some of you have mistaken taken long and expensive ASB-f insurance, and would receive very little capital, you can get the rest from the insurance companies later but that is besides the point)

Not at all. The 4.85% have been steady for about a year now. And even if the rate is 5.2% for the next 35 years, the total payment is still only RM435,000.

The returns calculations are not affected