My apologies for participating in derailing the thread.. I meant no offense and none taken.. It's all good. Just banter is all..

That's the idea..

Yep.. But still depends on how much loan you have left to repay and how long have you been paying.. Need to compare it with how much available in the funds.

Again you miss the point.. No one is doubting the interest rates are real and or the maths doesn't add up.. Most know how to work an S.I calculator.. It ain't rocket science.. .. If I want to argue, I'd argue that the 4.8% rate is impossible to guarantee it for the next 30 years.. As BLR can go up or down and banks may at their discretion decide to hike the rates.. But I won't cuz then you'd go on and on and keep missing the point. Summarily, it's not an automatic for everyone. Cuz even if some sign up today for 4.85%, and tomorrow.. It drops to 4.7%.. Doesn't mean can just terminate and refinance at the lower rates. Cuz high chances, one will be owing the bank interest.. Now a couple years later and say principal is the bulk of monthly repayments over interest? And rates drop? Then yes, it's an attractive offer.. That's one of the points I was making. Fairly simple.

Nah mate... nothing to be serious about.. Tis as they say.. opinions.. Noticed your edit and let me ask then since apparently you are the only who understands eh?.. Has it ever occurred in the past that BR moved up significantly that monthly repayments increased? Riddle me that.

Okay i loled at the pigeon reference. Guess you unaware that according to new research from a certain reputable American university, pigeons are able to comprehend abstract concepts of time and space in the same ways that elephants, monkeys, and humans can...

Haha... Let's go with your Jake then.. Would it still be stupid of Jake to not refinance if he's still owing significantly more than he borrowed in the first place due to the high interest rates and initial payments definitely go more to banks first (in the form of interest), before principal?... And it'd take say a couple months to a year of even more to balance out first..?

This post has been edited by voncrane: Aug 24 2018, 08:36 PM

It's hard to dumb things down any further to make my points any clearer. Now if you can't accept that.. Man, that's your prerogative and I respect that. Just don't poison others and deny them exercising their brains. Of course you don't lose.. Cuz there are quite the gullible lot who think what you do is rocket science.. As a regular folk who has meddled in his fair share of varied investment instruments.. I know there's no one basket for all investment. If as a "broker" you don't get this.. Perhaps you should go get your training fee refunded. You sound just like those brokers in the past who greatly encouraged people to always pull out their dividends and use it pay for next year's repayments.. Me wonder what happened to that lot..

Seriously, i know it's someone's rice bowl and all.. but you got to take a chill pill.. This is a public thread on a public forum and a differing of opinions will happen. I'm grateful that some are able to separate the wheat from the chaff.. especially when it comes to agents..

Oh well, at least you agree that BR movement is beyond our control.. See.. common ground..

This post has been edited by voncrane: Aug 24 2018, 08:47 PM

Dude.. i didn't even bother reading beyond the first couple sentences... Go trace back our banter.. I clearly gave you 2 scenarios and added insurance costs in.. YOU chose to ignore the scenarios and replied with some charts and bunch of other stuff that we already know.. So don't come up later and try to make it seem like I don't know what I'm talking about.. There's absolutely nothing you can teach me when it comes to loans, refinancing, repayments, stocks, shares, FUDs, ROIs, etc.. I'm that guy that actually reads the whole terms and conditions, plus privacy policies of every single financial stuff I dabble in.. So rather than trying to attack my person.. You should focus on understanding the clear points (at least to most) that I've raised. You hinted at me being a dumb pigeon.. It appears you called yourself out too early..

Nah fam.. nothing about ASB and ASB-financing is complex at all.. For the average seasoned investor.. It barely registers on the noob scale of investing. Majority of the work is actually done by the ASNB guys..

Edit.. Alright.. Alright.. I'm really done this time before the mods have to step in..

This post has been edited by voncrane: Aug 24 2018, 09:06 PM

Oh now, you ask for the cash value? Posted image not depicting values for 200k.. Enough lah bro.. I already told you that i crafted the questions in ways that a pro should be able to fill in the blanks.. I'm sorry for not being overly clear.. there.. you okay now? feels good? KEK.. Most of my questions are simple yes or no answers.. can or cannot.. simple.. Kindly refer to my previous comment.. I hope you have a good weekend. I know i will.

This post has been edited by voncrane: Aug 24 2018, 09:12 PM

Not exactly.. Cuz monthly compounding..

I.e 2017 fiscal year finished December 2017 and your total becomes 107..
Then January it's 107, February is calculated as 7% of January and totaled..call that X.. So X is totaled and 7% added..it goes on and on till December 2018. Dividends are calculated based on the lowest amount of each month. So let's say in January 2018, you withdrew RM5, then they'll calculate for only that month as 102. Then addon from there.

This post has been edited by voncrane: Aug 24 2018, 10:42 PM

Yes, it's possible to do that and it'll reduce the loan repayments tenure. It's considered an advance payment. The downside is (according to Maybank..other banks may differ) that this money can't be withdrawn once you put it in UNLESS you terminate the whole thing.. Then all is refunded to you. It's not like some flexi housing loan where one can "park" money to reduce interest paid for the duration it's there, and simply withdraw later as at when needed. My advice, is to consider using the 50K in other investments that can net you more than what the ASB dividends minus loan interest can get you. For example, if you've maxed out ASB & ASB2, you could put that 50K in ASW and leave it there to get say 6% (or whatever it'll net later..) at the end. Doing this should give you more than you'd save from putting it into the loan account... And if say next year you require all or some of the money, you can just make easy withdrawals..

However, if you are like some who prefer to have less loans out there.. Then sure, pay it into the loan.. Weigh both and go with that you feel most comfortable with. I too prefer to be as debt free as possible.

Not to worry.. Can apply anytime, as long as good rates and funds are available... So if your finances are good to begin today.. Sure go ahead. There's still 4 months left in the year. I prefer to have some decent amount stashed first before taking up such. Dedicated and enough to cover a couple months repayments down the road.. Just in case. My reasons are, it's counter-productive to take up the loan, only to terminate it for personal or financial reasons too soon. That'd be a loss. Aim to pay up without withdrawing the dividends for at least 3 - 5 years.. Then reevaluate if it's wise to terminate and reapply again by then. If you plan on doing the rinse and repeat method? Then avoid taking any insurance as that just increases amount you need to pay. But if plan to take and pay for the full 30 years? Doesn't hurt to have some insurance.. Cuz who knows the future.. My 2 sen.

This post has been edited by voncrane: Aug 25 2018, 09:11 PM

I too have my concerns and would definitely not take out any loans to invest in ASW. Using personal cash only and should be fine. Since I'm more invested in both ASB & ASB2, it's only natural that I be hopeful that the funds do better than the previous year. Will be good but not expecting any great returns. This of course is my personal analysis and take of the overall situation, after factoring in other relevant factors that will play a part. Others feel free to disagree. Well, we'll know for sure in 5 - 8 months..

Unfortunately yes, this be why timing and a good agent and or decent good paymaster record with a particular bank is good..Relationship is key too.. Earlier this year, took ASB2 loan and got loan approved within minutes. Before we even walked out of the banking hall cuz waiting to conduct other business.. In about a week, funds appeared in ASB2 account already.. Few days later, loan appeared in the online account with first debit beginning 1st of next month. So only lost the one month and even then not entirely, cuz since we've been using personal cash before, didn't withdraw all. Losing one month is generally normal and expected. Two months is if timing not good and can't be helped.

Not to worry, what's done is done and you are wiser for it..

They are not bribes and can be discussed in open..

You are right.. Rebates are just that.. Discounts redefined.. Buying cars, mobile devices, mobile data plans, houses, jewelery, paying for services, etc.. All perfectly legal.. Even TM and TIME ISPs give rebates regularly.. So meh.. Some gurus be like.. .. Kek.. I better keep quiet again before being wrongly chastised again..

Thanks for sharing a real world example of the negatives and what happens when one simply signs up and terminates wrongly. Much better than blindly advocating that folks refinancing is always the best without first taking in certain valid exceptions. Gotta say, actually missed your posts.. At least, now people in such scenarios will understand that they have to keep at least 3 years (ideally longer till loan finished to max the insurance) and loan balance lower than the 200k.. Before thinking of termination and reapply.

Just want to say.. liking the way you are sharing and responding now.. Much better..

According to Maybank, Nope!. Once signed and disbursed, can't be changed.. Though if you terminate the whole ASBF earlier, they'll refund some part of the takaful back. So either terminate in full and incur some losses (from either takaful included in loan or cash payment) or keep paying till the numbers make it okay to terminate.

Firstly.. Learn to use the forum's multi-quote and edit post feature.. There are ASB or compound interest calculators online.. phone apps also got. Just use any of them to do a rough estimation of returns.. Remember percentages aren't guaranteed and fluctuate higher or lower over the years. Though logically earning twice trumps earning once. Of-course not as much as paying for 2 separate loans (and not touching the dividends) but better than just one.

Loan repayments are deducted on a monthly basis from your attached account.. So dump there and let auto-deduct do its work.

This post has been edited by voncrane: Oct 31 2018, 10:33 PM

Well, you do that each and every year without backup..?.? You'd never see that million. But hey, it's your money. Sure, we all need to live life and not be so stiff. Just don't be a fool about it. Saving for ones retirement, Inflation and rising cost of living are still a thing. Neither cares if you "blow" your savings/investments on "luxuries" at the wrong times. I know a lot of people who were fairly well off and due to keeping up with the joneses and etc, are broke today. You do you, but what I do know is that it's easier to spend say 30k annually on trips or toys, when you know your various investments net 100k+ annually. That's how the real rich remain rich..

True.. Though I'm still young and no kids yet.. So I don't care much about saving for my grandkids.. That excess is what I spend today.. Maybe when I have grandkids I'll feel differently.. Until then.. Got current family and future kid or kids to worry about.

Depends on your current and expected financial needs. If you've bought or don't have to worry about taking a car/house loan in the near future (IMO..5 years), and you can foot at least one or both asb loan repayments? Sure go ahead.. This is so later when you are ready to commit to say a house loan (usually on the heavier side), you've got some buffer (accrued dividends) and most banks will consider these dividends as income too and not just a liability. Most important, is to commit within your acceptable expenses level. As pointed out earlier., no point amassing money and can't enjoy some of the finer things in life.

You are welcome.