Edited i will come back and calculate for u

This post has been edited by haziqnet: Feb 2 2017, 02:09 PM

Yes correct for cimb and maybank

This post has been edited by haziqnet: Feb 2 2017, 02:54 PM

Assume u apply early january 2017, and your asb disbursed at 20 jan 2017. Your ASB dividen start counting at February 2017.

Why u calculate u not get much is because u apply asb with full takaful and 25 years loan.

As for the calculation i will calculate the estimate return in 3 years without insurance

Loan = 200k
Monthly = 1192.60
Tenure = 25 years
Assume dividend = 7% prorate


3 years dividend compounding = 45008
Principal SV = 12,669
Total = 57,677 (a)

Your nett profit
1192.60 x 36 month = 42,933 (b)

(a)-(b)

57,677 - 42,933 = 14,744✔

Ok now how much will u get if u apply 200k for 30 years and also terminate after 3 years

Loan = 200k
Monthly = 1100 (5.2%)
Tenure = 30 years
Dividend = 7% prorate

3 years dividend compounding = 45008
Principal SV = 9001
Total = 54,009 (a)

Nett profit
1100 x 36 month = 39,600 (b)

(a)-(b)
54,009 - 39,600 = 14,409✔✔


The difference between those 30 years and 25 years are only
14,744 - 14,409 = 335✔✔✔

But for 3 years if u take 25 years tenure u will pay an extra
(1192.60 - 1100) x 36 month = 3333.60 ✔✔✔✔

In your opinion between 25 years and 30 years which one is more profit at the end?

-haziq-

If u want to refinance from other bank (maybank to cimb) u will entitle 5% promo rate. It means u will get much lower monthly installments.

This post has been edited by haziqnet: Feb 2 2017, 03:31 PM

Unfortunately cannot...the only way for u is to terminate and reapply without takaful



This post has been edited by haziqnet: Feb 2 2017, 04:00 PM

He is right bro buggie...

Haha i also do lot of mistake about asb credit limit...well i guess we all can learn more when there are question we need to seek for answer...✌✌✌

Making mistakes is part of the learning process. 👌👌

This post has been edited by haziqnet: Feb 2 2017, 07:57 PM

To answer for your question CIMB bank is easy to pay for online loan payments...just make sure u have CIMB account. Plus u have the details about your loan amount, outstanding balance will be update as soon u make payment. U also will know how much outstanding payment u have...

This post has been edited by haziqnet: Feb 5 2017, 07:34 PM

Try to maxout as much as u can. Use the previous dividend to cover up for your new loan if suddenly u r having problem to pay for the installments. Try to hold the loan until the next dividend payout. Then you can decide either to continue or terminate your asb.

About takaful with asb loan its better for u to apply takaful with the 3rd party. U will get more benefit + cheaper. You can apply takaful to cover your loan.

And lastly dont be too analytic. If you think too much it wont give u a better result. Just do it. Like other say as long as the dividend given still relevant stay with asb. No more lock in period so u can exit anytime u want. Dont worry.

This post has been edited by haziqnet: Feb 7 2017, 08:44 PM

Go etika takaful, or any takaful out there...said u want to apply for takaful this much (same with your loan amount) they will calculate the premium for u and also the installments...usually u can paid one off for 1 year...i once help my client to calculate his takaful (etiqa) for 1 year his loan is 60k (takaful covered 50k) and only need to pay about RM65/year...yet he get many benefit...

You can ask takaful agent what are other benefits if u apply their takaful premium...different takaful have different benefit...Choose which one suit with you and worth your money. Usually apply with etiqa takaful...

This post has been edited by haziqnet: Feb 8 2017, 06:46 AM

Cimb now have 5% rates for existing asb customer...PM me bro. I can help u to apply for asb 2 account.

This post has been edited by haziqnet: Feb 8 2017, 06:44 AM

Maybe more works but at least u get more benefit...

other suggestion, apply loan with 1 or 2 years takaful only. At least till u get your 1st dividend payout. Why? because if anything happen to you, your heir can still get the dividend and principal after the loan terminated. If u apply without insurance for the 1st year there is a risk if anything happen to u early and need to terminate less than 5 month your heir will get nothing. Or apply takaful with the same amount of year you target to terminate your loan. Example target to terminate in 5 years than u apply takaful for 5 years only. Hope this will help u to make the decision.

yes i'm with CWA...

OD ASB/ASB2 ?

OD = overdraft facility right?

if u want to apply for OD u must change your money in ASB account to certificate. Than u can bring it to any bank to apply for OD facility.

But from what i know, now currently OD facility only can be apply for company not individual people. At cimb im not sure about OD but i will try to ask my branch manager. Any info i will share it here later....

better u wait until your principal is below than 200k...u just need to wait for few month more than u can terminate it...why? if u are surrendering now u will get nothing and might need to pay for the unpaid interest...so try to hold for now...and also the unpaid insurance premium will be return into your bank account within 2-3 month.

if u want to refinance with the correct method pm me bro. Im glad to help you and share all the knowledge about asb technique when u apply with me....

This post has been edited by haziqnet: Feb 14 2017, 10:36 AM

about cimb offer 4.8% only applicable if u invest KWSP-UT / Cash UT at CIMB bank counter and will entitle 4.8% promo rate for ASB 1

and invest minimum 1k into ASNB-variable account UT at CIMB counter also will entitle 4.8% promo rate for ASB 2...

for now this promo doesn't effect to any existing ASB customer even though they already apply with CIMB bank before...so if u want to get that rate u need to do either one i mention above.

I will update later if have any changes to the promo rate.



This post has been edited by haziqnet: Feb 23 2017, 01:02 PM

dont feel regret...as long as you already do force saving by doing ASB financing is already ok...

nope it takes 3-4 weeks to disburse...

anyone would like to get free 1 to 1 personal consultation involve ASB and UT please PM me...

Regards,

Haziq
License UT/ASB Consultant

Usually if u apply at end of month your loan will be disbursed on the next month...so ur dividend will start calculate on the month after that...take a look at the date...if disbursed before 13/15 usually the dividen will be calculate...you can double confirm with the bank officer...

This post has been edited by haziqnet: Feb 23 2017, 04:44 PM

about the new promo 4.8% there is pros and cons to consider before apply

like i mention above the T&C to get that rate u must invest in their UT product or variable ASNB product (price not fix depend on market like normal UT)

Let say u invest UT RM1000 to get 4.8% you actually already put your money into high risk platform. Without proper guidance or advise that RM1000 might become higher or less...

the concept of UT u are buying units according to current NAV (Nett Asset Value) + deduct early charges.

When u invest RM1000 into ut and the bank charge 2.5% actually ur nett invest is RM975.61. This nett RM will be change into units. Let say the NAV for that fund is RM1.25, u will get 780.48 units. If the NAV decrease to RM0.90 and u redeem it on that time u only will RM702.43. Actually u already loss RM1000-RM702.43 = RM297.56

this is the risk u must understand if u really want to invest in UT without proper guidance.

Therefore my offer to you. Those who want to get this 4.8% just go to the bank and invest either 1 as mention in the T&C. Than you proceed ASB application with me.

I will be your guidance for UT investment so it can reduce your risk to loss your RM1000 invest in UT. Free of charge.

Actually to invest in UT is a good platform. The return rate are 8-15% average per year. But you need to have the knowledge and strategy if not you will not see the profit.

I'm not telling u this fact to afraid you all, but to tell u the truth so when you apply you already know the consequence in the future.

So if anyone interest for my assist to help ASB financing + UT please PM me...My offer open to those who apply ASB financing with me.

Thank you.

-haziq-
License UT/ASB Consultant

This post has been edited by haziqnet: Feb 24 2017, 09:31 AM

that's because they use the dividend money to pay for the installments. When the dividend goes down, they need to topup their own money.

most cases happen like this is because they apply ASB financing without proper knowledge.

They don't know the other charges usually put into their financing is not compulsory.

Insurance@takaful not compulsory
Will charges not compulsory

If the 2 above add into your financing than your installment will be higher.

The other reason because they dont apply for max financing period. CIMB offer 30 years but they apply for 20 years. Their installment will be much higher than those who apply for 30 years.

Therefore my advise before apply ASB financing learn the knowledge or apply with consultant like me. You not only apply ASB with the correct method i also will u teach all the technique in ASB for free. Plus i also can consult you about Unit trust investment platform. You can diversify your investment portfolio.

-haziq-
License UT/ASB consultant

This post has been edited by haziqnet: Feb 24 2017, 09:44 AM