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> ASB loan, worth to get it???

ding_dong
post Apr 6 2008, 01:34 PM, updated 11y ago

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intresting that maybank and RHB offer a ASB loan

interest around 6++ and ASB reture around 7-8%

is it worth to take it???

which one better RHB or Maybank???

jack2
post Apr 6 2008, 02:00 PM

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ASB loan is offering to Bumi only. So I am not sure about it.
goolie
post Apr 6 2008, 02:09 PM

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if that loan is 6.++% then the divident payout by ASB is 6-8%...i thnk u better stick to FD since u can direct get 3.7% interest..
globalvibes
post Apr 6 2008, 02:11 PM

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yes , u have to be a bumi to enjoy the ASB loan scheme
dreamer101
post Apr 6 2008, 07:36 PM

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QUOTE(goolie @ Apr 6 2008, 02:09 PM)
if that loan is 6.++% then the divident payout by ASB is 6-8%...i thnk u better stick to FD since u can direct get 3.7% interest..
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goolie,

A) FD

You put in $100 and you get 3.7%

B) ASB loan

You put in $0 aka NOTHING and you get 1% to 2%.

Do you understand the difference? It is FREE MONEY.

Dreamer


Added on April 6, 2008, 7:49 pm
QUOTE(ding_dong @ Apr 6 2008, 01:34 PM)
intresting that maybank and RHB offer a ASB loan

interest around 6++ and ASB reture around 7-8%

is it worth to take it???

which one better RHB or Maybank???
*
ding_dong,

1) Shop around for the lowest rate.

2) If you assume that ASB dividend rate is higher than the loan rate, it is worth it.

3) You need some extra money to cover the 1 year worth of payment since ASB pay dividend yearly.

Dreamer

This post has been edited by dreamer101: Apr 6 2008, 07:50 PM
ding_dong
post Apr 6 2008, 11:50 PM

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thank dreamer101
u got my point about this schme

will seach for the bes intrest between these 2
and it depend to BLR
so it possible for BLR to hike more than 8%???

dreamer101
post Apr 7 2008, 12:43 AM

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QUOTE(ding_dong @ Apr 6 2008, 11:50 PM)
thank dreamer101
u got my point about this schme

will seach for the bes intrest between these 2
and it depend to BLR
so it possible for BLR to hike more than 8%???
*
ding_dong,

<<so it possible for BLR to hike more than 8%???>>

Everything is possible. But, it is not likely.

A) There is TOO MUCH liquidity aka money in the bank now.

B) BLR could go up because it is too low but I doubt it could hit 8%.


The main thing is how much risk that you want to take versus how much buffer / spare money that you have??

You can have two approaches

1) Buy ASB only with your money and use the dividend to buy more aka slow and steady.

2) Have one year's worth ASB loan payment and borrow to the max that you can. Pay off the loan earlier by making more payment by using the excess of dividend versus loan interest.

The best choice is probably a combination of (1) and (2) that balance the risk and reward.

Most people get toasted because they spent the dividend as opposed to having the discipline of NOT SPENDING the dividend and use it to pay down the ASB loan.

In the old days, the ASB dividend were 14% and there were no limit on ASB. So, I wonder what excuse that people give for not getting rich.

Dreamer

This post has been edited by dreamer101: Apr 7 2008, 12:44 AM
mooze
post Dec 10 2008, 09:34 PM

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i took a RM20K asb loan from maybank, started two years, then i stopped recently because i don't think its worth paying off the loan interest.. i'd rather take a little off my time to queue once in a month at a counter to save using my own money.

i hope the article below(google-d it a minute ago) gives a rough idea for people unsure to take save using own money or take a loan for asb:

» Click to show Spoiler - click again to hide... «


This post has been edited by mooze: Dec 10 2008, 09:35 PM
nanbade
post Dec 10 2008, 10:29 PM

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Hmm...it sound interesting.
But if u stand at the bank point of view, will that be possible?
What bank & insurance company did is always they WIN all the time.
How possible they will miss this out?
Better to check the T&C carefully...maybe some tricks over there.
bluffy83
post Dec 11 2008, 10:53 AM

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Loan or use ur own money for ASB.. for me i think its more related to time. If u want to have something to spend at the end of the year.. go for loan.. but if u think u can wait till 10 - 15 years.. just save using ur own money. Life quite short u know. Just enjoy it
zcatz
post Dec 11 2008, 11:06 AM

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pls google around. there are some people providing the calculator that compare saving in asb using loan vs topup monthly.

overall, i could say that not worth using loan. do u think y bank offer such loan? because they themselves can't put the money on it. so, they use us.

sikit2 lama2 jadi bukit! <- iklan ASB, remember?
atake
post Dec 11 2008, 12:27 PM

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For me,it was worth it.I manage to get an offer from Maybank for ASB Loan of RM30K at interest rate of BLR-1.75% for the first 2 years and BLR-1% thereafter.So, i have to pay RM215.00 monthly.As the dividend was steady at 7-8% yearly,i manage to get a dividend of about RM2400 yearly.So,for the past 1 year i pay as usual and starting next year if PNB declared 8% dividend , i will get RM2400 dividend.So, i will pump in this dividend into ASB loan and only need to pay another 180 for next year.So,starting next year if the dividend still steady i just need to top up around 200 yearly and by the end of my loan i will get my RM30K.Currently my interest at 4.75% due to reduction in BLR.For me,it was worth!!!.So,total i have to pay is RM2580(12x215) + (200x19 years) = RM6380.So,overall, i paid RM6,380 but in return i get RM30,000.00. Count it yourself.Mb next year onward if more offer i will try to apply another ASB loan.
darkknight81
post Dec 11 2008, 12:56 PM

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<<<Dari contoh simpanan ASB RM 100,000 yang terdiri dari Deposit RM 5,000 manakala RM 95,000 pinjaman bank mengikut kadar BLR + 0.5% (iaitu 6.9% setahun) ==> Bayaran bulanan RM 731 untuk tempoh 20 tahun.
Seperti yang diiklan, dividen akan diberi terus kpd anda.
Contoh: dividen 7% setahun, anda akan dapat RM 7,000 setiap tahun. Boleh dibelanjakan apa saja anda suka dan at the end of 20 years, anda akan terima RM100,000 yang boleh digunakan untuk beli rumah, pendidikan anak dan sebagainya.

Cara A - Gunakan dividen untuk bayar semula pinjaman
Hasil pengiraan saya menggunakan software Optimoney, jika dividen 7% setahun atau RM 7,000 itu dibayar semula kpd bank untuk mengurangkan baki pinjaman anda, loan ASB anda dijangka selesai dalam masa 7 tahun 6 bulan dengan jumlah pembayaran penuh hampir RM 120,827 (termasuk deposit RM5,000 dan dividen RM7,000 yg dibayar semula setiap tahun)
Ini bermakna, anda terpaksa membayar RM 120,000 untuk mendapatkan RM100,000 selepas 7 hingga 8 tahun. Untung atau rugi?
Jika anda labur RM 731 ke dalam ASB setiap bulan selama 8 tahun pun, simpanan anda akan menjadi RM 94,260. Campur deposit RM 5,000 yang disimpan utk 8 tahun juga,future value adalah RM 8,590. Total nilai pelaburan anda = 102,850. Dah lebih 100,000 dah.
>>>

You cannot use old blr to compare. For my housing loan offer is BLR - 1.88 = 6.5 - 2.88 = 4.62%
Let assume ASB loan to be 5% ASB RETURN TO be 7% annually. You loan 95 k for 20 years and 5k down payment. That means you got to pay RM 627 Monthly and RM 7524 annually. With ASB annual return of 7% you will got RM 7000.00 dividend. So basically
7524 - 7000 = 524 that means you got to pay RM 524 Annually. For 20 years = RM 10480

So total you pay RM 5000 + RM 10480 = RM 15480 only....

Look at it this way you pay RM 15480 to get RM 100K in 20 years time....and the rm 15480 is not one lump sum which you can pay monthly....How many percent return?? 645% return in 20 years.....

Government is always helping the bumi... just that the bumi don know how to help themselves Pathetic isn't whistling.gif

This post has been edited by darkknight81: Dec 11 2008, 12:57 PM
dcs*
post Dec 12 2008, 05:04 PM

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QUOTE(darkknight81 @ Dec 11 2008, 12:56 PM)
<<<Dari contoh simpanan ASB RM 100,000 yang terdiri dari Deposit RM 5,000 manakala RM 95,000 pinjaman bank mengikut kadar BLR + 0.5% (iaitu 6.9% setahun) ==> Bayaran bulanan RM 731 untuk tempoh 20 tahun.
Seperti yang diiklan, dividen akan diberi terus kpd anda.
Contoh: dividen 7% setahun, anda akan dapat RM 7,000 setiap tahun. Boleh dibelanjakan apa saja anda suka dan at the end of 20 years, anda akan terima RM100,000 yang boleh digunakan untuk beli rumah, pendidikan anak dan sebagainya.

Cara A - Gunakan dividen untuk bayar semula pinjaman
Hasil pengiraan saya menggunakan software Optimoney, jika dividen 7% setahun atau RM 7,000 itu dibayar semula kpd bank untuk mengurangkan baki pinjaman anda, loan ASB anda dijangka selesai dalam masa 7 tahun 6 bulan dengan jumlah pembayaran penuh hampir RM 120,827 (termasuk deposit RM5,000 dan dividen RM7,000 yg dibayar semula setiap tahun)
Ini bermakna, anda terpaksa membayar RM 120,000 untuk mendapatkan RM100,000 selepas 7 hingga 8 tahun. Untung atau rugi?
Jika anda labur RM 731 ke dalam ASB setiap bulan selama 8 tahun pun, simpanan anda akan menjadi RM 94,260. Campur deposit RM 5,000 yang disimpan utk 8 tahun juga,future value adalah RM 8,590. Total nilai pelaburan anda = 102,850. Dah lebih 100,000 dah.
>>>

You cannot use old blr to compare. For my housing loan offer is BLR - 1.88 = 6.5 - 2.88 = 4.62%
Let assume ASB loan to be 5% ASB RETURN TO be 7% annually. You loan 95 k for 20 years and 5k down payment. That means you got to pay RM 627 Monthly and  RM 7524 annually. With ASB annual return of 7% you will got RM 7000.00 dividend. So basically
7524 - 7000 = 524 that means you got to pay RM 524 Annually. For 20 years = RM 10480

So total you pay RM 5000 + RM 10480 = RM 15480 only....

Look at it this way you pay RM 15480 to get RM 100K in 20 years time....and the rm 15480 is not one lump sum which you can pay monthly....How many percent return?? 645% return in 20 years.....

Government is always helping the bumi... just that the bumi don know how to help themselves Pathetic isn't  whistling.gif
*
Just curious, how do you calculate that the monthly payment would be RM627/month based on RM95,000 loan with 5% interest? Not too good with these banking interest calculations.

This post has been edited by dcs*: Dec 12 2008, 06:17 PM
YuNGSeNG
post Dec 12 2008, 06:42 PM

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Just curious, is the dividend of ASB always 7-8% ?


This post has been edited by YuNGSeNG: Dec 12 2008, 06:50 PM
darkknight81
post Dec 12 2008, 08:02 PM

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QUOTE(dcs* @ Dec 12 2008, 06:04 PM)
Just curious, how do you calculate that the monthly payment would be RM627/month based on RM95,000 loan with 5% interest? Not too good with these banking interest calculations.
*
Using the loan calculator of RHB bank... you can use other bank will be the same. base on 5% interest rates...


Added on December 12, 2008, 8:08 pm
QUOTE(YuNGSeNG @ Dec 12 2008, 07:42 PM)
Just curious, is the dividend of ASB always 7-8% ?
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ASB dividend has been the highest among all the PNB fund. Normally the past record is 7sen dividend plus 2 sen bonus... so is about 9% ... 7% can consider as the worst case senario already.

This post has been edited by darkknight81: Dec 12 2008, 08:08 PM
YuNGSeNG
post Dec 12 2008, 09:20 PM

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QUOTE(darkknight81 @ Dec 12 2008, 08:02 PM)
ASB dividend has been the highest among all the PNB fund. Normally the past record is 7sen dividend plus 2 sen bonus... so is about 9% ... 7% can consider as the worst case senario already.
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ASB seem too good if compare with mutual fund or stock market (For investment but not speculation).
Wondering what is the disadvantage or risk of ASB ?
dcs*
post Dec 12 2008, 09:36 PM

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QUOTE(YuNGSeNG @ Dec 12 2008, 09:20 PM)
ASB seem too good if compare with mutual fund or stock market (For investment but not speculation).
Wondering what is the disadvantage or risk of ASB ?
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The only disadvantage would be applicable for non-bumiputra's. For bumi's, no risk/disadvantage at all only advantages.
YuNGSeNG
post Dec 12 2008, 09:57 PM

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QUOTE(dcs* @ Dec 12 2008, 09:36 PM)
The only disadvantage would be applicable for non-bumiputra's. For bumi's, no risk/disadvantage at all only advantages.
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Then no meaning for bumiputera to involve in mutual fund, stock market or insurance endowment plan ?
I guess there must be some pro and con of ASB.
darkknight81
post Dec 13 2008, 12:37 AM

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QUOTE(YuNGSeNG @ Dec 12 2008, 10:57 PM)
Then no meaning for bumiputera to involve in mutual fund, stock market or insurance endowment plan ?
I guess there must be some pro and con of ASB.
*
Of course ... for those who are greedy and want fast return they won consider ASB at all....What is 7 % per annum ??

They can earn 20% one day by trading stock (that is their mindset)

So its all depend on how you think....

But really if you got few k savings in asb you will not see much return base on 7% annual return unless you keep for long long time.

Been fans of ASW and ASM since 12 wink.gif now is almost 13 years already ... Every you can reciv dividend which is higher than FD... At least can hedge against inflation

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