hi
im currently have asb loan with maybank
i take 100k loan with maybank for 20 year since oct 2009
at that time, if im not mistake, the BLR is 5.xx (dont remember)
if the BLR change, does it mean the monthly payment also will change?
currently my monthly payment still same as maybank does not send any letter to me to change the monthly payment...
thanx

ASB is basically a free money from the gov.

fahrur,
I've asked this similar question long time ago, and the answer is yes, your monthly payment should change accordingly with the change of BLR. BLR increases, monthly payment increases.

http://forum.lowyat.net/index.php?showtopi...post&p=38529206

If you are paying less than the needed amount, you'd still have to pay for your loan by the time your tenure ends. So the best solution for now IMHO is to change your monthly SI accordingly and PAY back all the yearly outstanding amount from the increase of BLR since the first BLR change. (FYI right now it's standing at 6.30%).

I'm prefer profit on $$ rather than %%.. coz I can't buy anything using %, everything people sale in $$.. some more for next 20 years either PNB or Bank also can't guarantee >8.5% dividend.. Loan Investment profit promise everything based on assume & no fact.. I'm learn from bad experience happen to my family on 1997 crisis, Dividend paid can't support monthly installment. Did the bank offer help or pushing to sale or they sale without your concern to reduce their risk. The only guarantee buy/sale price per unit won't increased & decreased RM1-00 per unit.

This post has been edited by Oldskolboyz: Feb 20 2011, 07:57 PM

owh..so i must go the maybank branch to get the new amount of monthly payment.thanx jijai

haha well can't blame you then! yes everything is dependent on dividend but ASB have a very good track record if you refer to the history. 8-8.5% is the lowest dividend for the past 20 years. As for you prefer the $ instead of %, I think that is debatable. Here is the scenario:

1. I invested RM7,704 and in 20 years I have made a returns of RM115,124.

2. You invested RM RM154,080 and in 20 years you have made a returns of RM404, 375


So if you notice, I have a +ve cash flow of RM642 each month compare to you (for 19 years). I can used this extra cash flow to expand my portfolio to other types of investment like gold, property, unit trust, etc. So basically I have higher potential return than you by the end of 20 years. Well I don't think I need to specifically detail out what the return would be. you can do your own estimation if you have a +ve cash flow RM642 what can you do with it. that is like 1 gold dinar each month and gold have a been returning almost 30% per year lately.

what I'm trying to say is, leverage is the best investment anybody can do. F*ck, even the Glazer's are doing it to Manchester United! Anyway good luck with your investment!

ASB loan(easy to saving up to 200k) - better never touch the dividend

Saving your own money (1k or 2k/month = 12k/year or 24k/year) - hard but it might can if you earn more than 8k with humble living dan tak membazir sangat (never use credit card dan tak ada personal loan)

for me(ASB and AHB) for long term investment.susah masa muda-muda,senang untuk hari tua. fund untuk edu etc


how to get 8k or more higher?

hmm..since kita melayu hari ini hanya 19% dapat control economi malaysia..bersama-sama lah kita bersatu dalam business. Rasulullah SAW pun ada kata rezeki 9/10 daripada perniagaaan.

FYI,i am Malay. age 22 years old. got to saving ASB and AHB.from my part time business..i simpan sikit-sikit,lama-lama jadi bukit..

im able to save 1k++ monthly..however im planning to take loan for asb..is it good or not???

as i want to bring forward the didvidend..or else it will takes ages for my asb to reach its max by saving 1k++ per month...

Just wait loorrr, as I know BLR keep increasing & PNB 100 storey building on the way..

Since you are already commited RM1k/month, why not take the asb loan than?
Looking at the MBB repayment table, for current BLR rate, and assume same BLR for 20 years, for RM995 per month you can get a RM155k.

Say asb divident is 7% a year:

save RM995/month for 20 years
asb value at year 20: RM508,045
Total investment= RM995*20*12= RM238,800
Dividend: 508,045-238,800=RM268,245

Put RM155k on ASB, and continue paying banks at RM955
asb value at year 20: RM599,801
Total payment to bank: RM995*20*12= RM238,800
Dividend: RM361,001

Can you touch the principal of RM155K before fully paid the bank loan i.e. 20 yrs?

No unfortunately. but you can touch the dividend, though its not advisable.

you can only invest up to 200k for asb

who said this? pls check in the prospectus, the term DIVIDEN & BONUS. Sijil or Buku, both can get this.

---

Added on March 1, 2011, 12:31 pminitially limit = 200k. but, can be more actually. whatever your new high, will be your new limit.

yr 1, limit = asb 200k
yr 2, div 8%, new limit = 200k + div yr 1 (16k) = 216k
yr 3, div 8%, new limit = 216k + div yr 2 (17k) = 233k
yr 4, div 8%, new limit = 233k + div yr 3 (18k) = 251k
.......

you can withdraw & topup back to the max of your highest point.

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Added on March 1, 2011, 12:34 pmMaybank have islamic financing, blr-1.65% for max 25 yrs.
RHB have the package of paying the interest only, rate @ blr-1%.
CIMB, nothing special. blr-1.65% for max 20yrs.

depends on ur target.
my opinion :
- for fast & easy cash go for RHB/easyRHB.
- for long term..Mbb

This post has been edited by zcatz: Mar 1 2011, 12:34 PM

can somebody explain to me where does BLR's effect on calculation?

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Added on March 4, 2011, 2:41 ami got questions regarding your 'loan' column.

why would you add up the loan amount to the investment? shouldn't we pay to the bank the $118 amount? and the dividend that we should get by year end is as the usual calculation? (10K * 7%) = $700 right? if I want to see the result as calculated that means i have to pay double? one part for the loan, another straightaway into asb?



This post has been edited by poreh: Mar 4 2011, 02:41 AM

is maybank the best for asb loan? how about rhb?

i think for long term profit use ASB loan from Maybank

but for short-mid term profit (5 years) better use ASB loan from EASY RHB

why?

for 1st 5 years you only pay interest (low installment)
no exit fee if settle/withdraw after 3 years.
easy and fast approval. only need MYKAD. (unemployed and student age above 18 can also apply )

for more u can ask in this thread. or u want to apply u can come see me at EASY RHB platinum walk setapak or call me nana 0176699904 (don't ask where is the nearest EASY RHB with your place)

totally disagree..its for future savings...

Please advise...

I am a 21 years old student and I did my calculation for 30 years because that's when I reach 51 years old.

From what I heard, maximum cash you can put into your asb account is 200k,anything more than that has to be the dividend

Let say you put in 200k... dividend 8% annually compound interest.

200,000 (Base)
216,000 (1 year)
233,280 (2 year)
251,942 (3 year)
272,097 (4 year)
293,865 (5 year)
317,374 (6 year)
342,764 (7 year)
370,186 (8 year)
399,800 (9 year)
431,784 (10 year)
466,327 (11 year)
503,634 (12 year)
543,924 (13 year)
587,438 (14 year)
634,433 (15 year)
685,188 (16 year)
740,003 (17 year)
799,203 (18 year)
863,140 (19 year)
932,191 (20 year)
1,006,766 (21 year) Millionaire!
1,087,308 (22 year)
1,174,292 (23 year)
1,268,236 (24 year)
1,369,695 (25 year)
1,479,270 (26 year)
1,597,612 (27 year)
1,725,421 (28 year)
1,863,454 (29 year)
2,012,531 (30 year) Millionaire!!

Is this correct?

But best would be to dump in 200K (if you have the money) and get the dividends every year right?