From where the cash money come from? bank pay RM15,583 after cancel the ASB loan?

This post has been edited by alifhezrey93: Nov 1 2016, 04:30 PM

Well i take 25 yrs for 50k loan.currently on 2nd yr and thinking getting out now.want to know how much i can get in return,thats all.

That money comes from your original investment - principal balance after you terminate your asb

Let say your principal balance left 175k from your 200k financing...after you terminate you will get the balance 25k

This post has been edited by haziqnet: Nov 1 2016, 06:15 PM

Oo ok

Your return are as below

Assume dividen profit 7.3% for both years
Interest profit = 7550
Original investment = 50,000
Principal balance = 47,855

ASB value
(50000-47855)+7550
= 9695

You will get about 9695 after 2 years

for nett profit i need to know how much you pay monthly...

This post has been edited by haziqnet: Nov 10 2016, 03:03 PM

Hi, I'm also thinking to terminate asb loan after 2 years. What will I get after termination?

Below is the detail of my loan.

Loan: RM100K
Additional Insurance included: RM3781
Interest rate: 5.2%
Loan Period: 25 years
Monthly Payment: RM619
First year dividend already taken out for 2nd year payment.

Thanks

your surrender value

100,000 - 95,887 = 4113

2nd years dividend let say 7.3% rate = 7300

so total for both RM11,413 (approx)

Nett profit

capital
(619x12) x 2 years = 14,856

11413 - 14856 = -3443

but the calculation above not include your insurance refund...you take the insurance for 25 years right? so u still profit but not much...

so my advice wait for few years more or terminate and refinance with another bank. PM me for more info

hope can help you...

This post has been edited by haziqnet: Nov 10 2016, 04:08 PM

My advice for you guys to maximize your return dun apply asb with insurance especially when your age are above 35 years old and moreover if you target to surrender you ASBF below than 5 years...

the insurance will increase your total installments plus if your loan duration is below than 25 years.

so make sure you seek advise from consultant if you dun understand or need more info to help you maximize your asbf...

making investment without knowledge will non-profit you at the end...

pm me if you need further assistant...im glad to assist you all...

This post has been edited by haziqnet: Nov 10 2016, 04:09 PM

Wanted to ask you regarding cancellation because some of the consultant really reluctant to cancel. Got one of my friend really want to cancel her CIMB ASB Loan but then the consultant say cannot lah this lah that lah then later the consultant persuade my friend to rolling the dividend money which my friend just follow blindly.

My question is, why some consultant tend to be like that? And to cancel the loan, what necessary documents or anything that are needed?

Just for sharing...

one of the famous technique in ASBF

ASB + Car
--------------

Situation

Ali want to buy a car. The installments is RM550/month. Therefore before buying he apply for ASBF 100k with the same installments. Ali make his first ASBF at 2016

2017 Ali buy his 1st car

So how Ali pay for his installments?

He used the dividend he get from his ASB year 2016 to pay for 1 year car installments.

Calculations as below
..............................

2016 dividend (7.3%) = 7300
Car installments per month = 550
Car installments 1 year = 6600
Dividend balance = 700

Continue the above step till years 10

After 10 years
-------------------

Every year after Ali paid for his 1 year installment he will get dividend balance RM700

Dividen balance total
700 x 9 years = 6300 (a)

Than Ali terminate his 100k ASBF and get

100,000 - 84098 = 15902 (b)

10th dividend = 7300 ©

so lets add all (a)+(b)+©

6300+15902+7300 = 29,502

Conclusion

By combining ASB and car loan installments Ali just not get the car but also with a total of RM29,502 from his ASB financing.

Great or great?

PM me for more info

This post has been edited by haziqnet: Nov 10 2016, 04:03 PM

i cant answer your question as im not clear what the consultant had said to her...however most consultant will give their advise why they shouldn't terminate his investment either its not the right time or it will nonprofit the client...but after the consultant explanation if you still want to terminate your ASBF than just proceed...u dun need their approval...

Its either you are profit or not if you terminate your ASB at that time...

to terminate your ASB just go to the bank and fill up the ASB surrender form (if not mistaken) then give back to them...your ASB will terminate soon after that...simple as that...if u apply your ASB with insurance than you will get the insurance refund after few month...

This post has been edited by haziqnet: Nov 11 2016, 12:54 AM

Step by step how to use rolling dividen technique and maxout ASB 400K

Very simple actually

We start with 100k ASB
Monthly installments RM550 (5.2%)
One year installments RM6600
Assume dividend at 7.3%
Financing duration = 30 years

1. 2016

Apply 100k ASB

dividend = 7300

Balance = 700

(Use the dividend to payout for the rest installments)

2. 2017

Apply 100k ASB

dividen = 7300

Balance = 700

(Same method use the dividend to payout for the rest installments)

3. Continue the above step till year 4.

After 4 year you maxout all ASB quota and you dont need to pay more using your own money. All the installments for each 100k's will be paid by its own dividend

Your total capital
(550x12)x4 years = 26400

Your ASB total 400k

Nett profit = 373,600
ROI = 1300%

Great or great?

-haziq-

Financial advisor PWA
011-10785052

This post has been edited by haziqnet: Nov 12 2016, 02:08 PM

Its probable there is -ve loan balance thats why he not advise you to terminate early. remember you need to tell your consultant about your game plan with asb financing. otherwise its not recommended to terminate early otherwise you take less or zero takaful.

do contact me for fast response.

My insurance is for 1 year only...not continue for second year. Anyway, thanks bro...

glad to help...so my advise wait few years more...dun rush bro...if you have problem for the repayments, you can use some of the dividend to cover for it...

This post has been edited by haziqnet: Nov 14 2016, 12:59 PM

Dengan pembiayaan ASB klu anda 'twist' byrn komitmen anda menggunakan dividen ASB dan bayaran balik pembiayaan ASB menggunakan gaji anda pada akhirnya anda akan dpt kedua-duanya sekali.

Tak percaya?

Lihat situasi di bawah :

Sbg cth Sariyanti membeli rumah bernilai 200 ribu. Bulanan utk 30 tahun RM1100

Sariyanti mohon pembiayaan ASB 200 Ribu juga 30 tahun dengan bulanan yg sama RM1100

Selepas setahun Sariyanti gunakan dividen ASB utk byrn ansuran rumah dan bayaran bulanan ASB dibayar menggunakan duit gajinya

Pengiraan
=========

Andaikan dividen 7.1%
Jumlah dividen setahun RM14,200

Bayaran ansuran rumah setahun RM13,200

Lebihan dividen RM14,200-13,200 = RM1000

Ulangi langkah ni selama 30 tahun

Hasilnya...

Selepas 30 tahun (Andaikan dividen 7.1%)

- lebihan dividen
RM1000 x 30 tahun = RM30,000

-dividen tahun ke 30 = RM14,200

-Pulangan pembiayaan = RM200,000

Jumlah keseluruhan = RM244,200

Akhirnya selepas 30 tahun Sariyanti

✔ memiliki sebuah rumah
✔ hasil pelaburan berjumlah RM244,200

Terbaik @ TERBAIKKKK ?

-haziq-

(Cuba anda gunakan strategi yg sama pada semua byrn komitmen anda. Agk2 berapa anda bakal perolehi?)

Disclaimer : ASB tidak menjanjikan kadar keuntungan dividen yg sama pada setiap tahun. Amaun bayaran balik pembiayaan boleh berubah bergantung kepada kadar asas semasa. Sila rujuk prospektus ASB pada tahun2 sebelumnya untuk maklumat lanjut sebelum membuat sebarang pelaburan

Hi, I want to ask is it possible for me to get asbf 200k if I got no salary/income? I have a company and it's making about 20-30k sales per month. Can I use my company to get the loan instead?

Yes, can. Just provide documents as below,

- 6 month company bank statements,
- a copy of your IC,
- a copy of your SSM (include company details registration)
- EPF statement if available.
- Front page of your ASB book account

PM me for more info

Whats is the pros and cons to take the loan with takaful?

Loan is a debt, with takaful your debt will be settled in the event of your death, thats the pros.

Takaful is added cost to your loan principal amount, that the cons.

For my ASB loan I take takaful with full tenure, because my objective is long term...

It depend on your strategy...

It is worth to take takaful?