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 Ultimate Discussions of ASB1/2-Financing, questions/comments/criticisms welcome

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TSwild_card_my
post Mar 26 2020, 04:56 PM

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QUOTE(redzaril @ Mar 26 2020, 11:56 AM)
Hi bro n sis. Trying to read a few new posting but really this was not my area of knowledge. I m here to ask a few question and hopefully someone can explain in layman term as i am a peasant without any financial knowledge background. 😅

I have 100k loan in ASB and just been approved another 100k (before 1st April). So at the moment my ASB investment is 200k++ (incl money from saving). So the question is...

About the penangguhan, i ve already asked BSN and they said mine will tangguh for 6 month but if i wanna pay also can by paying manually. I find this an advantage because i dont have to fork out money for the 200k but just need to prepare for the final 3 months (oct - dec), but inwill still received full 200k++ divident at the end of the year..

Am i correct or will the be disadvantages in calculating the divident or the loan interest etc?
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your interest will still accrue over these 6 months, depending on your bank,

a. you can load the accrued interest into capital and pay it throughout the tenure,
b. or you can pay the accrued interest in lump sum at the end of the moratorium
c. or you can pay the accrued interest in lump sum at the end of the loan tenure
D.gRave
post Apr 9 2020, 02:29 PM

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Mind if I ask something?

Before, I read somewhere if I do ASB loan it would hinder with housing loan in future, is this true? Because this is what stopping me from doing ASB loan.
TSwild_card_my
post Apr 9 2020, 02:41 PM

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QUOTE(D.gRave @ Apr 9 2020, 02:29 PM)
Mind if I ask something?

Before, I read somewhere if I do ASB loan it would hinder with housing loan in future, is this true? Because this is what stopping me from doing ASB loan.
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yes and not

it will appear in your CCRIS

but the distribution you earned from ASB can be used as part of your income
requiem318
post Apr 9 2020, 02:47 PM

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QUOTE(wild_card_my @ Apr 9 2020, 02:41 PM)
yes and not

it will appear in your CCRIS

but the distribution you earned from ASB can be used as part of your income
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Distribution from asb dividen can be count as a income also right?(not from finance)
MGM
post Apr 9 2020, 02:47 PM

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QUOTE(wild_card_my @ Apr 9 2020, 02:41 PM)
yes and not

it will appear in your CCRIS

but the distribution you earned from ASB can be used as part of your income
*
Distribution earned from ASM can be used as income for house loan/car hp/ credit card application?
TSwild_card_my
post Apr 9 2020, 03:00 PM

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QUOTE(requiem318 @ Apr 9 2020, 02:47 PM)
Distribution from asb dividen can be count as a income also right?(not from finance)
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Yes, both distributions from units bough using cash and financing can be used as part of your income. most banks will apply 80% on this (because it is considered as variable income), RHB will apply 50%
TSwild_card_my
post May 13 2020, 10:21 AM

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Update: For those who wants to refinance or apply a new, a good rate would be 3.85% without takaful and 3.80 with minimal takaful.

40 years max tenure, up till age 65
yoomie P
post May 15 2020, 03:16 PM

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QUOTE(wild_card_my @ May 13 2020, 10:21 AM)
Update: For those who wants to refinance or apply a new, a good rate would be 3.85% without takaful and 3.80 with minimal takaful.

40 years max tenure, up till age 65
*
under what bank? and is it good to apply for shorter period (around 10yrs for 200k) or longer be better?
TSwild_card_my
post May 15 2020, 03:23 PM

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QUOTE(yoomie @ May 15 2020, 03:16 PM)
under what bank? and is it good to apply for shorter period (around 10yrs for 200k) or longer be better?
*

Name of the bank is usually trade secret haha. talk to me

As for the tenure, longest tenure is best, whatever savings you get from the lower installment can be further reinvested as cash. The idea of ASBF is to actually not pay off the financing balance, because the certificate size is always bigger than the balance at anytime (certificate size remain constant, while your balance is reduced over time)
cringe
post May 15 2020, 03:29 PM

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QUOTE(wild_card_my @ May 13 2020, 10:21 AM)
Update: For those who wants to refinance or apply a new, a good rate would be 3.85% without takaful and 3.80 with minimal takaful.

40 years max tenure, up till age 65
*
So that means, if I'm interested to apply ASB Loan,

I visit the bank and ask the bank about the rates without takaful and with minimal takaful?

Is it recommended to take with takaful or without takaful?

This post has been edited by cringe: May 15 2020, 03:30 PM
TSwild_card_my
post May 15 2020, 04:03 PM

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QUOTE(cringe @ May 15 2020, 03:29 PM)
So that means, if I'm interested to apply ASB Loan,

I visit the bank and ask the bank about the rates without  takaful and with minimal takaful?

Is it recommended to take with takaful or without takaful?
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As a broker I can do a house call for you, but it is your choice to go to the banks or engage my services.

Best to take it without takaful, unless the takaful contribution is super minimal that the lower rates give you a better deal despite having to pay for the contribution
Sha91
post May 15 2020, 04:11 PM

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QUOTE(wild_card_my @ May 15 2020, 04:03 PM)
As a broker I can do a house call for you, but it is your choice to go to the banks or engage my services.

Best to take it without takaful, unless the takaful contribution is super minimal that the lower rates give you a better deal despite having to pay for the contribution
*
What do you think about this year's dividend?
Are there any possibilities to go lower than 4%?

I have just re-loan. Sold off my 100k (50+50) and took the 200k (100+100) loan.

I have been retrenched last February and paid my loans for the year until February next year.

Judging from the current situation, I am not sure if I am able to secure a job anytime. So a lil worried about my next year payment.

This post has been edited by Sha91: May 15 2020, 04:12 PM
TSwild_card_my
post Jun 4 2020, 12:01 PM

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Just putting it out there, some banks can do 40 years till age of 70 years old now. Here is one of the better rates:

ASBF Promotion

+ Max tenure: 40-years
+ Max age: 70-years old
+ Effective rate: 3.85%
+ No lock-in period

For example, RM200,000 ASBF installment: RM818/m
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