okay sorry..

Ok Bro. No harm no fowl. Peace

The answer to your question is 400k loan plus approx 80k from previous years interest. So this is the result from interest on 480k. Looking forward to next year where interest will be on 523k! The awesome power of compounding interest...

Sorry, i thought the maximum of ASB loan is 200k?

He invested in ASB long long time ago where his dividend expended too 400k(200k dividend)

took out the 200k cash and replace it with another 200k loan on top of the original 200k

iinm now the loan is limit to 200k only so cant do what he did anymore.

If I m going to cancel asb loan, should I go to any branch?
Or I need to go back to issuing branch?

Refer to ASB bank agent or banker. u can go for branch as well.

Hi there,
Affinbank give better rate for ASB-Financing which is the lowest rate among the bank. Plus with max tenure up to 30 years and no lock in period.

PM me for more detail.
0179345146

this is not the place for doing sales

How much interest rate?

Hehe..Sorry2. Just want to inform.

5.0% for 100k and above.
5.15% for 95k and below.

Wow,quite high.

you can compare with other bank first. find the best rate.
for now, Affin rate is the lowest.

Hai abang buggie.

I just signed my asb loan.
I do 30k + 70k = asb
50k = asb2

Ok ka?

First wan to cancel 50k but mebeng officer seduced me to just sign that 50k.
She said 50k can be pay upfront using existing asb money i have so monthly commitment is low.
Untung ka if that the case?

So neves.

This post has been edited by mt24: Feb 7 2016, 01:51 PM

Those are the latest, cheapest rate nowadays?

Anyway, I plan to take 300k worth of ABS loan. Know a banker whom can (try) arranging that for me considering my history dealing with the branch.

May I know which one is the best route?
- 300k one off (not sure if possible)
- 30k x 10 loans.

I personally prefer the 30k x 10 loans as its easier for me to clear up one by one from time to time.

Asb loan Max is 200k iinm.. or do u mean asbloan 2 loan as well?

50k per loan should be find 50k X 6

Congrats on your new venture. No need to be nervous. If things go wrong remember that you can always terminate the loan with no penalty whatsoever.

The important thing here is for you to know and understand how much you can afford to pay out each month. And invest within your limits according to your priorities.

For me, if you're gonna use the dividend to pay off the loan not really worth it. If you wanna have 50k dividend every year, you gotta let it compound. That's the only way. And that's why it's beneficial if you can max your loan (within your monthly payment capacity) as soon as possible. The faster you do that, the more years you can compound it.

As for the 50k ASB2 loan, if you use existing ASB money to pay off you will lose it's dividend earning capacity. if you can use your monthly income to pay off instead of using your ASB money then all the better.

Yeah keep it is the best way to maximize it. I am afraid later when new commitment coming, who knows in future, i will only able to eat Maggi mee all the time
How many years you are holding to the loan before u sell it off?
Or u serve till 25 years?