They will give divident for 280k.

Dividend on the full 280k Bro.

Part of the appeal of the loan is to be able to compound the interest. Otherwise, it's just not worth it.

I see. Ok thank you. Noted. Good that i dont have to transfer the money here and there.

yeah the dividend is calculated in full. if your ASB 1 now is full why not consider to take extra loan on ASB 2 which it would also give you very good return.

Actually we only need very limited doc.
If your salary enter into CIMB Bank practically we just need you to sign up on the application form and a clear photocopy of your IC.
If your salary do not enter we just need an extra EPF Statement than we are able to sign you up for the ASB loan.

keyword here: "Compounding"

This year got 7% consider good

Only CIMB offering this? How about MBB?

MBB currently offer the same thing. Paid the bank a visit last friday. Got asb2 financing max 30years 200k interest rate 5.2%. No mention of limited quota though. No restriction for you to go for asb2 even when you don't yet have asb1.

Wow.... Neat.

So basically I can get 200k from ASB 1 @ 25 years tenure and 200k from ABS2 @ 30 years.

Minimum 7% from 400k which equivalent to -+ 30k per annum.

Are my math correct?

this year asb2 declared a dividend of 7.05..previously, it was 7.5+0.25

i'm not sure they can maintain above 7 on apr17 by looking at the current market...

so, i just terminate my asb2 loan...

Yes. But also be looking to paying approx 3k a month in loan repayments. So make sure you factor that into your budget.

Also understand that it usually takes a couple of years before the compounding effect takes place so if you're gonna take out your dividend to pay the loan from the very first year, you'll find that you'd probably be making a loss.

Hi,

I would like to ask, if I have a sum of money example 30k.

Is it good to direct put all in ASB 30K or monthly basis like RM2500 per month for 12months.

Is there any different in term of the return for lump sum or monthly?

I know its not related to ASB loan.

Probably put all if u wna maximize the return. The dividend is calculated on the lowest amount in your account for the month. So if you add 2500 for first month, it will only consider that 2500. The following month u add another 2500 and it will consider 2500+2500=5000. But be aware that if you put 2500 on the first/second/third/etc day of the month, i dont think theyll include it cause theyve taken the lowest amount on that month(once the month started, the first day). Someone might need to correct this if im wrong.
If you put all 30k, it will calculate based on 30k till you take it out.

If you can spare the cash, dump it all in. the earlier the better. More returns at the end of the year.

thanks both for your clarification.

Yerp +- your assumption is correct..

Question...
Banks don't give any cert after loan approve is it?
How do i know the approval fund already into my asb account?
If they mistakenly put in someone else account how?

Any idea which back offer the best rate so far?

Going for maximum amount.

I think, if I'm not mistaken most of the bank offer 5.2% but MBB and CIMB I'm sure it is that figure.