Depending on your profile, most banks will still give.. Cuz they consider it as a fairly secure loan as it's fixed price. If they give 200k, it's for 200k units.. You keep paying, early on is mostly interest... If with full insurance, they make more too.. So whenever you want to terminate or if something happens and they have to terminate with you?? It's easy, they just sell/claim back (I'm not sure of the right words to use).. Basically, they'll definitely get their initial 200k in full plus interest paid or principal owed. So it's in their best interests to approve it than decline it. Unlike a house loan where they are more stringent cuz future sell-able price isn't fixed. Banks are not in the business of loosing money.

My concern is more on commitment. If I read your post correctly, you are over 70% commitments on your income? That doesn't leave a lot of wiggle room for my comfort.. Of course, depends on how much disposable income this <30% is.. RM500 spare cash =/= RM5K spare cash..

Oh that explains it.. I wondered about the silence. 30 days..

If only interested in one fund? I say you self-fund.. It's better.. Just keep putting in every month till maxes out, then leave to compound. In a year, all considered, you should be able to hit the 200k mark. At that rate, not worth taking a loan.. First year, won't be full dividends, cuz calculated based on lowest amount every month. However, from 2nd year on-wards, you should be good. If you are interested in taking up ASB and ASB2 at once..different strategy might apply.. dependent on your appetite. My 2 sen.

This post has been edited by voncrane: Nov 20 2018, 10:12 PM

No problem.. You are welcome.

Give it a bit more.. It'll come through.

Edit... How many days since loan approved and today?

This post has been edited by voncrane: Nov 23 2018, 12:03 AM

Stoked and apprehensive at the same time..

Good share.. Just to reconfirm, so I don't advise wrongly.. This hybrid method is "not for"? to those who can easily max the 200k and pay the monthly installments? Assuming one already has a good interest rate and not keen on terminating and re-applying at the moment.??

Duly noted...

Very tempting.. But I don't have any such proxies to trust with such amounts.. Later big quarrel over how to share.. Friend/family now, in 5 years, many things can change.. Much safer I dump elsewhere to earn..

This post has been edited by voncrane: Dec 4 2018, 08:24 PM

A bank loan is still a bank loan and since there's no longer any protection, of course..it has to be paid back. I reckon the bank will just sell off or whatever the certificate and reclaim the principal owed and plus whatever charges. The remainder, gets passed on to your NOK.. Logically.

Yes you still can. At least from MBB..

Already mentioned he/she'll be 35 this year. Which means currently 34+.. Still ask when was born.. Not simple maths meh? Or no need maths.. Since you've already confirmed that those who are definitely 35 are able to get max 30 years.. Sometimes just a little common sense is required. No need to reach for a larger analysis and response.

This post has been edited by voncrane: Jan 14 2019, 06:13 PM

I wasn't adopting any such attitude.. I wasn't saying you were a bad banker either. Merely pointed out an easy to note fact, one willfully supplied by the poster. The only way he could have been any clearer was to state.."oh I'm 34 years and x months old". Which was already implied by the statement.."I'll be 34 this year".. So relax.. Not every avenue is a chance to promote your services and or how you do things. It was a simple question demanding a simple answer. No need to over-sensationalize. If he wanted to consider himself 35 when he's actually 36, he would have worded it differently.

Summarily, one is either an age or not. One will either get the full loan or not as that age.. If cutoff point for a service is say 50, as long as officially below that age is acceptable. Whether loan gets approved or not then relies on other factors unrelated to age. See.. I can over-sensationalize things too while being factual. But I chose to give him/her the simple accurate answer that was sought. Stop adopting a #iamsogreat attitude. It's off-putting.

This post has been edited by voncrane: Jan 14 2019, 06:40 PM

Nah... I'm not jelly of you or anyone in particular.. No one bit.. I believe I've made that perfectly clear. I saw an error and called it out. Whethere you agree with it or not. Shows your attitude and personality type. I also believe I've made that perfectly clear in the past. I don't live or work to please you either and this is a public forum where things can be discussed and opinions shared. if all simply went in one direction regardless of truth and transparency then the forum would have failed. This was not supposed to go beyond my initial response.. If you actually took your own advice to heart, you would seen the error and let it lie.. But no, you needed to display your annoyance and arrogance as you are wont to do.

at least you acknowledged that which was plain to see.. No further response needed..

Firstly, It's unsurprising that you'd agree. Lastly, you too just proved my point. True, birth dates are important to banks, insurance companies and the lot.. But as regards to ASBF, it's fairly straightforward. No big thinking to it.. If the cut-off point is (for example) up to 35 and one is lesser than 35 years.. then can.. if more than that, then an issue may or may not arise depending on other factors. So OBVIOUSLY if he applied after his 35th birthday/cut-off point, it stands that he knows, he can't take the full tenure (bank dependent).. Anyways, back to the point I made earlier... Fella knew exactly what he/she wants and how they want it.. Notice that the question could only be read as an application happening before and or during one's 35th birth year and NOT 36 and a week or whatever after...


no it's not a fight... It's no skin off me either.. Just it gets really tiring having to see just the same group-think in here.. Even worse, when they feel like they can do/say no wrong.. Nah, I follow all and pop in occasionally to sort of re-calibrate the system. Just as I did the last time someone went on the I'm great spree.. I'm a firm believer of if you can dish it, then you can take it. I do not back down just cuz someone who thinks I should be jealous of him says so.. as long as what's shared is factually correct.

This post has been edited by voncrane: Jan 14 2019, 11:00 PM

Likewise wild_card_my.. Take your drama out elsewhere. now you are recommending that I be banned or the both of us? Just because I pointed out an issue and disagreed with it? Really taking the high road on there are you.. I'm done on this matter.. I too shall continue to contribute when and where I can..you have your opinions and I have mine. Just because we disagree on certain matters does not mean I have a vendetta against you or anyone on here. That would be a waste. It just means I disagreed.. that's all.. Ciao.

This post has been edited by voncrane: Jan 14 2019, 11:42 PM

You should and they are not my dupes. I don't have one. Lyn mods can testify.. I'm proud of my history on lyn and don't resort to dupes even to make complaints about big companies, much less an individual.. Thanks for accepting feedback and moving on. Tis all that's required. This post is to make things clear in yours and some others' minds, just incase they be thinking the same.. So next time some older or newbie account drops by to critique something.. It's not me.. No more no less..

Too early, sure incur losses. Unless you don't mind. Best to leave as is and persevere for at least 2 - 3 years (should be enough), receive dividends to break even plus some extra. Scope out the options then and your finances.. If more favorable? Then terminate and reapply with one that's most favorable by then. You'd be wiser too. Remember, agents, banks and insurance companies never lose. So always go through the fine print and crunch the numbers first before you sign and begin handing out your cash to serve a loan. If you are lucky, there won't be another better deal shortly after you sign up. Can't control that..much..

1... Maybank KLCC branch is okay. Rates last I checked with them was 4.90% but Takaful is compulsory. Though it can be modified as per coverage amount and duration. So be careful, read the fine print before signing and make sure the Takaful amount and coverage is as per your request. Cuz once signed, loan approved and funds disbursed? Can't change without terminating the loan first. If can? Better pay the Takaful amount upfront vs allowing it to be included in the loan. Cuz then, you'll pay interest on it as well.

2. Yes you can put in extra cash.. BUT AFAIK, it can only go either towards..
*Advance monthly payments...or
*Principal repayment...or
*You directly purchase extra via agents or the ASNB portal PROVIDED that the account has some "room" to grow from extra topup amounts. This option increases your overall ASB funds and doesn't touch (reduce) your loan.

3. Yes, you can choose to not use a loan and just use your own funds.. as for the initial registration? I'd assume yes.. Cuz ASB2, ASB3, ASW2020, etc all... Can be opened there with own funds. Did this and can confirm. After opening, you can top up extra (upon availability) through the ASNB portal.

This post has been edited by voncrane: Jan 25 2019, 04:50 AM

Yes.. Cancel then reapply or reapply then cancel.. Same principle... Use whichever will work for you best at the moment.. Ideally, try to get pre-approved for the loan amount first..

Wait and compound for 12 years and can only withdraw max RM200 per week? Not good .. How about full account closure to withdraw? I mean, since it's cash and not loans.?? Probably impose some more restrictions after that.

Yes you should.. Though they probably mailed you a letter explaining the increase beforehand. I know public bank does send physical letters to one's address to inform about a change in terms and why.

TLDR... You'd need to do some rough-precise calculations to know if it's worth or not..As you alone has all the necessary info.

This be a tough one to answer.. Of course, on the surface? Yes, it's more worth to go the ASB route. However, there be other calculations and factors you need to consider.. Just to name a few..things like..
*If you can actually sell off at a price that is either at cost or with profits.. After adding up all expenses and interest incurred with the house so far.
*Willing to take a hit if you have too, just to be rid of it..?
*House loan lock in period and settlement fees..if any
*Capital appreciation so far and future appreciation. Sure, most of the property market is on the downsides now.. 5 or 10 years from now? Might be better or worst for you.
*ASBF isn't you earn 26K yearly.. You still need to pay interest to the bank.. So you'll get much lesser (net) than that. It'll take awhile to compound to net you such yearly. Unless, of course, selling your property allows you to inject own cash in..
*I've warned and watched the asb loan "benefits" drop year after year. Just a few years back, agents were using 8% returns as rough estimation of future dividends.. Then 7.5%, 7%, and now 6.5 or 6%. Which is damn near bank loan rates d. Read into that what you may.. Ultimately, we are told it's never going to drop below or near loan EIRs. However, no such funds can 100% guarantee such. Good thing is, can always sell back the certificate and get full 400K back if it does become unfavorable to use the loan vs own cash.

Well said.