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 ASB loan, worth to get it???

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Musikl
post Nov 3 2015, 03:19 PM

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QUOTE(wts6819 @ Oct 29 2015, 12:52 PM)
Just to get full dividend on it. No issue if you taking now. I taking my first 100k asb loan few years back around Oct. Yet I still manage to get 2k+ dividend from it. Notbad.jpeg
btw, I suggest you to divide it into 100k + 100k. Easy for exit plan. smile.gif
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I divided mine to 25k x 4
Planning on getting another 25k, and the rest of allowable allowance (200k) ill put cash.
And after maxing out the allowance, i plan to pay the 25k one by one.
Thats my strategy anyway.
fahrur_07
post Nov 3 2015, 03:26 PM

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QUOTE(Musikl @ Nov 3 2015, 03:19 PM)
I divided mine to 25k x 4
Planning on getting another 25k, and the rest of allowable allowance (200k) ill put cash.
And after maxing out the allowance, i plan to pay the 25k one by one.
Thats my strategy anyway.
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i can help you to apply for ASB financing
im an CWA agent
WA 012-6997059 (razi)
buggie
post Nov 18 2015, 11:39 AM

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QUOTE(1984J @ Sep 12 2015, 05:49 AM)
Hi guys need some advise, took a 200k asb loan (30 years) with CIMB, got approved few days ago but I'm now thinking now to getI'd rather get 100k (10 years)

Is it still possible to do so?
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Why would you want to that?

If the repayment amount is roughly the same, i would suggest the 200k loan to take advantage of OPM.

Bottom line, end of the year you will get interest on 200k vs only 100k with the same repayment amount. You do the math.

Risk almost none as you can always surrender anytime
buggie
post Nov 18 2015, 11:49 AM

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QUOTE(Musikl @ Nov 3 2015, 03:19 PM)
I divided mine to 25k x 4
Planning on getting another 25k, and the rest of allowable allowance (200k) ill put cash.
And after maxing out the allowance, i plan to pay the 25k one by one.
Thats my strategy anyway.
*
Just sharing my opinion. If I were you, i'd take the full 200k on loan even if you have the cash. Always maximize the loan as research has proven (cari gold) that you earn more from the loan because you are leveraging OPM.

That cash in hand can be put elsewhere to generate even more income. eg Tabung Haji or other PNB funds or even down payment for a house which will appreciate in capital.

Make your money work for you! I myself am already on 400k loan with ASB and contemplating another 200k for ASB 2 for a total of 600k loan if budget permits!

IMO

This post has been edited by buggie: Nov 18 2015, 11:51 AM
buggie
post Nov 18 2015, 12:12 PM

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QUOTE(dunder @ Nov 18 2015, 11:57 AM)
ASB izzit meant for muslim shj
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For Bumi, not necessarily Muslim
salimbest83
post Nov 18 2015, 12:17 PM

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QUOTE(mooze @ Dec 10 2008, 09:34 PM)
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... «

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meh.. that guy braindead maybe or ahmad maslan level

go get it if u can.
try cimb also. monthly 1155 last year for 200k loan


salimbest83
post Nov 18 2015, 12:18 PM

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QUOTE(buggie @ Nov 18 2015, 11:49 AM)
Just sharing my opinion. If I were you, i'd take the full 200k on loan even if you have the cash. Always maximize the loan as research has proven (cari gold) that you earn more from the loan because you are leveraging OPM.

That cash in hand can be put elsewhere to generate even more income. eg Tabung Haji or other PNB funds or even down payment for a house which will appreciate in capital.

Make your money work for you! I myself am already on 400k loan with ASB and contemplating another 200k for ASB 2 for a total of 600k loan if budget permits!

IMO
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hey bro.. mind to teach how ge 400k on single IC?
or u using multiple IC aka person?

hmm.gif
buggie
post Nov 18 2015, 12:32 PM

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QUOTE(salimbest83 @ Nov 18 2015, 12:18 PM)
hey bro.. mind to teach how ge 400k on single IC?
or u using multiple IC aka person?

hmm.gif
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Hi. Sure bro... It's on a single IC

Everyone knows that max you can put in ASB is 200k. but as you earn dividend, the size will expand. So for eg if after the first year you have earned 15k dividend, your ASB size is now 215k! so if you were to withdraw 5k and leave 210k in there, you can still put back that 5k in even though you have 210k already there.

So for me, I took the max loan about 8 or 9 years back earning dividend which i never touched and let it compound. Dividend size grew to 200k essentially doubled. So I had 200k sijil and 200k cash. Took out the 200k cash and put into ASB2 and replaced it with another 200k sijil from MBB. Making it 400k loan in ASB

Hope this helps. icon_rolleyes.gif

This post has been edited by buggie: Nov 18 2015, 12:33 PM
salimbest83
post Nov 18 2015, 12:58 PM

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QUOTE(buggie @ Nov 18 2015, 12:32 PM)
Hi. Sure bro... It's on a single IC

Everyone knows that max you can put in ASB is 200k. but as you earn dividend, the size will expand. So for eg if after the first year you have earned 15k dividend, your ASB size is now 215k! so if you were to withdraw 5k and leave 210k in there, you can still put back that 5k in even though you have 210k already there.

So for me, I took the max loan about 8 or 9 years back earning dividend which i never touched and let it compound. Dividend size grew to 200k essentially doubled. So I had 200k sijil and 200k cash. Took out the 200k cash and put into ASB2 and replaced it with another 200k sijil from MBB. Making it 400k loan in ASB

Hope this helps. icon_rolleyes.gif
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owh.. long term project..
i got the idea.
thx for enlighten
Musikl
post Nov 18 2015, 06:48 PM

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QUOTE(buggie @ Nov 18 2015, 11:49 AM)
Just sharing my opinion. If I were you, i'd take the full 200k on loan even if you have the cash. Always maximize the loan as research has proven (cari gold) that you earn more from the loan because you are leveraging OPM.

That cash in hand can be put elsewhere to generate even more income. eg Tabung Haji or other PNB funds or even down payment for a house which will appreciate in capital.

Make your money work for you! I myself am already on 400k loan with ASB and contemplating another 200k for ASB 2 for a total of 600k loan if budget permits!

IMO
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I thought of that, but I wanted to have some commitment to other loans, like business or property. Finding other ways to earn higher than ASB. Diversifying and finding optimum investment with the resources in hand.
Davez89
post Nov 21 2015, 11:53 AM

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QUOTE(buggie @ Nov 18 2015, 12:32 PM)
Hi. Sure bro... It's on a single IC

Everyone knows that max you can put in ASB is 200k. but as you earn dividend, the size will expand. So for eg if after the first year you have earned 15k dividend, your ASB size is now 215k! so if you were to withdraw 5k and leave 210k in there, you can still put back that 5k in even though you have 210k already there.

So for me, I took the max loan about 8 or 9 years back earning dividend which i never touched and let it compound. Dividend size grew to 200k essentially doubled. So I had 200k sijil and 200k cash. Took out the 200k cash and put into ASB2 and replaced it with another 200k sijil from MBB. Making it 400k loan in ASB

Hope this helps. icon_rolleyes.gif
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Once the size expended from the originated 200k it's possible to take up another loan? And from that 400k once it expends again..still able to get more loans?
exitsortie
post Nov 22 2015, 11:47 AM

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QUOTE(Davez89 @ Nov 21 2015, 11:53 AM)
Once the size expended from the originated 200k it's possible to take up another loan? And from that 400k once it expends again..still able to get more loans?
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PNB used to allow an individual to take up ASB financing up to 400k (if their ASB limit is maxed to that amount), but a few months ago they decided to limit the allowed financing to only 200k per person. You can still put in cash exceeding 200k though. So people who already have 400k loan for ASB did it before the rule came into play.

This post has been edited by exitsortie: Nov 22 2015, 11:48 AM
Davez89
post Nov 22 2015, 01:03 PM

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QUOTE(exitsortie @ Nov 22 2015, 11:47 AM)
PNB used to allow an individual to take up ASB financing up to 400k (if their ASB limit is maxed to that amount), but a few months ago they decided to limit the allowed financing to only 200k per person. You can still put in cash exceeding 200k though. So people who already have 400k loan for ASB did it before the rule came into play.
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so to say that we cant use buggie's method no more if we took the 200k loan and down the road
9~10 years it expands to another 200k ? cry.gif
buggie
post Nov 22 2015, 06:12 PM

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QUOTE(Davez89 @ Nov 22 2015, 01:03 PM)
so to say that we cant use buggie's method no more if we took the 200k loan and down the road
9~10 years it expands to another 200k ? cry.gif
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ooh... didn;t know it is not allowed anymore. Then I guess I was lucky. Myabe in future they will open up again.

Anyways, take the 200k first. Who knows in 8-9 years they allow then you are already in the position to take advantage of it.
titanic_crash
post Nov 23 2015, 09:52 AM

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QUOTE(buggie @ Nov 18 2015, 11:49 AM)
Just sharing my opinion. If I were you, i'd take the full 200k on loan even if you have the cash. Always maximize the loan as research has proven (cari gold) that you earn more from the loan because you are leveraging OPM.

That cash in hand can be put elsewhere to generate even more income. eg Tabung Haji or other PNB funds or even down payment for a house which will appreciate in capital.

Make your money work for you! I myself am already on 400k loan with ASB and contemplating another 200k for ASB 2 for a total of 600k loan if budget permits!

IMO
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this is the same concept that i have used...but, i stop at 300k only because my limit is only at 305k. Now, with the lasb2 offered by maybank, i transferred all my savings into my asb2 children and take the 150k asb2 loan (50k already invest through epf acct 1) rclxms.gif
Davez89
post Nov 23 2015, 11:11 AM

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QUOTE(buggie @ Nov 22 2015, 06:12 PM)
ooh... didn;t know it is not allowed anymore. Then I guess I was lucky. Myabe in future they will open up again.

Anyways, take the 200k first. Who knows in 8-9 years they allow then you are already in the position to take advantage of it.
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Will try to do as u said..and hopefully down the road can take another loan.

QUOTE(titanic_crash @ Nov 23 2015, 09:52 AM)
this is the same concept that i have used...but, i stop at 300k only because my limit is only at 305k. Now, with the lasb2 offered by maybank, i transferred all my savings into my asb2 children and take the 150k asb2 loan (50k already invest through epf acct 1) rclxms.gif
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Bro, can I know why limit is 305k? The dividend can't expand no more?
buggie
post Nov 23 2015, 12:14 PM

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QUOTE(titanic_crash @ Nov 23 2015, 09:52 AM)
this is the same concept that i have used...but, i stop at 300k only because my limit is only at 305k. Now, with the lasb2 offered by maybank, i transferred all my savings into my asb2 children and take the 150k asb2 loan (50k already invest through epf acct 1) rclxms.gif
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Good on you bro... always happy when I see people taking advantage of the priviledge given. Let's all prosper together.

Your 2 children's ASB is filled up already? You said you transferred from your ASB2 into your children's ASB2... If still got room in ASB better put there first... if already full then.... thumbup.gif rclxms.gif RESPECT!
buggie
post Nov 23 2015, 12:19 PM

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QUOTE(Davez89 @ Nov 23 2015, 11:11 AM)
Will try to do as u said..and hopefully down the road can take another loan.


Bro,  can I know why limit is 305k? The dividend can't expand no more?
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Great! Just remember that this ASB loan will count in your CCRIS. So just keep that in mind when you do your budgeting and future plans.

He probably managed to accumulate up to 300k only before PNB imposed the max 200k ruling. So he can only take an additional 100k loan because that was what his limit had expanded to at the time. He will still continue to grow the dividend portion and with it also expand the Max limit.... just that he can't take anymore loan because of the PNB ruling now.

This post has been edited by buggie: Nov 23 2015, 12:20 PM
titanic_crash
post Nov 23 2015, 12:31 PM

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QUOTE(Davez89 @ Nov 23 2015, 11:11 AM)
Will try to do as u said..and hopefully down the road can take another loan.
Bro,  can I know why limit is 305k? The dividend can't expand no more?
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it's from the accumulated dividend...for next january, i will expect to add another 22k, thus total would be 327k...
however, i can no longer apply for asb loan because asnb have limited it to the 200k per person recently... cry.gif
titanic_crash
post Nov 23 2015, 12:37 PM

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QUOTE(buggie @ Nov 23 2015, 12:14 PM)
Good on you bro... always happy when I see people taking advantage of the priviledge given. Let's all prosper together.

Your 2 children's ASB is filled up already? You said you transferred from your ASB2 into your children's ASB2... If still got room in ASB better put there first... if already full then.... thumbup.gif  rclxms.gif RESPECT!
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yes, i withdrew all my money to give way for the loan and investment for epf acc 1 (150k(loan)+50k(epf acc 1) = max 200k)

i choose to max both of my child asb2 account first due to the limited fund size (the total fund size is rm10Bil)..that is 50k each

i can still fill their asb account as and when i have the money because asb have no fund size limitation...

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