Please read my post again.. Nothing to disagree there.. Keyword.. "Option". Said option will increase investments into the funds. So it'd be stupid of them not to offer it.. Some people can only fork out RM500 a month, some RM1K, others? RM10k and more.. It's just plain business sense to offer better options to such clientele..

ASBF is good until it isn't... Even you have agreed such in the past. We agree on the same thing.. There's no such thing as loans are always good. Use when good and bail when it's unwise and or other options available..No case there.. However, for the cash flush folks, there's always a case to make on injecting pure cash with zero loans.. I rest.

Oh yeah.. Read somewhere, it's your birthday period.. Better late than never.. Next year? Tell where the party's @.


Note: To the child that reported my post..again.. Son, your immaturity never fails to amuse..People are making bank, you are hitting the report button..

This post has been edited by voncrane: Apr 26 2019, 11:59 AM

Same here.. However, monthly installment amount remains the same.. Unsure if they'll revise that lower before next due date.

Correct.. To max returns.. Also, if any month(s) you reckon it'll be too stressful to make the loan repayments? Just withdraw a bit from the cash in ASB2 to settle it. Can replace back when more buoyant. As for lowest rates and bank? I can't help there. Agents can.. Maybank is alright, just be careful about taking full insurance or just the bare minimum.

Just to report... Maybank showing 4.65% as per recent reduction. Got charged and it's still the same amount as previous month. So seems like the monthly repayments won't reduce.

I checked.. Pretty much no diff in profit rates charged.. In fact, it went up for a bit.. From transaction history..
31 Mar....Profit Charged....RM864.98
30 Apr....Profit Charged....RM835.75

This is where it gets a bit messy.. Normally in the past, the interest is always charged on the last day of the month, and payment deducted on the first day.. But...
9 May....Profit Charged - Change in BLR...RM836.46
17 May...Profit Adjustment Credit.....RM4.26
1 Jun....Again pulled the same amount..

Doesn't seem to me that the tenure is being reduced either.. Perhaps need to wait another month?

I'm aware.. I expected the daily adjustments to happen and then calculated as interest charged but at the end or the month.. Usual time.. Then monthly repayment happen as normal the next day.. Amount either increases or decreases, which In turn lengthens or shortens repayment schedules. At least, this is how the bank loans (admittedly non-islamic) I'm aware of function and fairly easy to keep track off as it all tallies. Pay to premium and interest charged is recalculated from next day on and shows up as reduced amount later. Tenure is reduced too. Anyways, I wouldn't bother calling up the bank either just yet.. Wait to hear from others, if they experience the same. If by next month it's still unclear.. Then I know la..Loans.. Unfortunately, it's the ASB2 loan so can't just reapply and terminate.. No ASBF quota.

Yep personal.. Though I already reported.. Everything up till April end happened like clockwork.. Last day of the month, calculate and profit charged.. This is added to loan balance..First day of the month, deduct monthly Installment. Loan balance reduces by this much. I'd screenshot and post the statement. Even redacted, but it isn't mine (you know la).. So best I can do is discuss the details and amounts. I think I'll just wait till July 2nd and see how. As long as the interest rate remains the same for this month, the interest charged by month end, should tally as per the calculation you provided earlier.. I'll update then. Thanks.

This post has been edited by voncrane: Jun 8 2019, 02:58 AM

Kudos on diligently saving own cash.. IMO, since there's no ASBF presently for ASB2. Take advantage of lower interest rate for ASB1 loan. Sign up for max 200k.. Little to no Takaful (this part up to you la) and the transfer your cash savings to ASB2 instead.. You earn from both. I wouldn't roll the dividend, cuz frankly it can't cover it... Yet. Just keep paying out of own pocket and worst case, when need emergency money, can go withdraw some own money from ASB2. Use to settle things and or pay for the ASB1 monthly Installment. Can replace later if units available.

Also.. What Wild Card posted.

This post has been edited by voncrane: Jun 14 2019, 08:56 PM

Yup.. Like lotter92 mentions.. IMO, don't apply for it if your finances are a bit shaky and or you'll be applying for a different yet significant loan (like property) within a year's time. To be safe. However, if your finances are in great shape and a particular bank is okay with your profile? Sure.. Shouldn't be an issue.

Monthly repayments are just that.. Minimum.. You can always pay separately/extra towards the principal.

It will reduce the principal.. Example, owing 90k.. Pay 10k extra, call your bank or agent to ask how to make a direct payment to reduce the principal...next month/installment, interest will be charged on the 80k balance instead. Depending on when you paid the extra amount.. Cuz daily calculations.

Read my post.. Hence the part I said to call your agent or bank to facilitate such.. I can't say if it's flexi or semi or fully, etc.. It's a loan, ALL loans can be settled early. Just a matter of if there are repercussions or blessings for doing such. In this case and AFAIK, it's a positive if you want to...Banks are in the business to make money, NOT lose it.

Maybank now allows no Takaful option.. Same rate 4.85%

And I'm telling you what I know as at last week. Maybank allowed NO Takaful.. Loan approved within 24 hours.. Sms received. 4.85%, max tenure.

Hey.. was informing la cuz your responded with it being stupid to sign up with MBB.. No need reply him as he mentioned already signed up. So too late, gotta ride it out.. But all good.. let others know..

ASB2 financing is still unavailable.

Need to clarify.. You asking about loan approval or funds credited into your ASB account? If it's the former, depending on profile, can get approved within minutes. AFAIK, a couple weeks back, a Maybank ASB officer shared that there aren't loan quota available just yet. But should open up again by next month.

As wild_card_my explained.. Yup, it's "normal"... AFAIK, most loans come with such clauses. The way I understand it, it could go both ways. Say the difference is more then RM50 and they reduce it. If later in future rates are increased but monthly repayments difference is less than RM50?....You get my point. Repayment duration left changes though. Now you are actually paying more towards your outstanding loan amount.

IMO... It's too small.. Is it better than nothing? Some would say yes.. But to me, It's not worth it at all. Have to also remember that returns now are significantly poorer (even at full 200K loan) and each year gone past, is a year gone past that you could have earned a little bit more with more money invested.

Nevertheless, do NOT over-strain yourself financially. Life is much more than the headaches that will bring.

I was going to comment yesterday that it would surely be lower than 6% in total. But then, I remembered how my previous thoughts have been met in this thread. Guess who's laughing again now.. Hahaha.. I warned back then. But no no.. The "experts" here know better.

Wise move. If only some listened earlier..

Nah... Sure still come out and claim as long as higher than loan interest, it's still great.. Like really.. Haha

It's been mentioned.. Max loan amount, max loan tenure, no Takaful (get a separate insurance that isn't dependent on ANY specific loan), and pay consistently for at least a couple years. It used to be at least 3 years. But with recent years results? I'd double that.

Enough with the unprofitable properties excuse la brother.. Let's call a spade a spade. Yes the property market is suffering but guess what... There are still properties that have and still profitable the past five years. Don't simply blanket.. Also, nothing like non-eligibles being jealous. Besides properties, there are various investment vehicles AVAILABLE to the general public. Some of which netted double digits interest this year and earlier.. Of course, not everyone can go into such..risk appetite or as you rightly mentioned, higher entry costs. But for those who can, please consider other forms (look beyond the RM if possible as it's been losing ground..don't get me started on inflation and rising costs of living), rather than simply enriching the banks, bankers and their agents.

Now, I may have made some sense or once again "talking rubbish"..well, depending on who's reading this. Nevertheless, I shall now retreat back into my corner to continue munching my popcorn..

Nah... I'm not going to go back and forth on this.. We are far too smart for that. Or so I believe.. Obviously, I wasn't talking about going to Genting.. But I wouldn't rule that out either.. .. Anyways, you know what I'm talking about as regards seeking other forms of investments. But just to be clear, I mean proper and legal forms of investments yeah.. Relatively safe AND definitely no fly by night dealings... Don't later someone counter with fx/crypto or even some mlm crap. Oh well, another year, another low dividend payout.

Those long in the game? Not much affected.. Enough has been made to shoulder the "losses" of the past few years. Those just starting out in the past few years? Good luck. Those just started this year? What can I say... Tahan? till you make actual profit, then decide to continue or pull out.

This post has been edited by voncrane: Dec 18 2019, 11:40 PM

Nah... Only those savvy enough and with means to make more elsewhere will do that... If they haven't already done so already. Those who know, knew even before our current new govt. If little me can know, what more those with deeper pockets. FYI, if more distribution left for others but still shit returns? You and they are still losing out.. Why? Cuz opportunity costs..

Exactly... me no say never sub to ASBF or invest with own cash, etc.. Heavens no, I'm no expert. Just an unbiased person interested in making as much money as possible. But don't simply believe that because you are making a few RM on top of what you cough up every year, that means you "are making profit" and as such it's a "great investment".. Nope, it's not.. Returns are made on a yearly basis... That's 12 months. The banks have made more money that most loan owners made this year. But that's to be expected. Some would say they don't mind.. I don mind. So what's left is to ask oneself, I've done this forced savings for a year, 2, maybe 3.. i have this cash on hand now. Are there any other investment instruments that can reliably net me more at the end of the next year (or even 6 months)? Cuz in the end, we are all in ASB/ASBF to make money for ourselves and to me. That is the bottomline.. Make as much money with the little we've got.

Why shouldn't people complain about significantly lower dividends than was "promised". So because one can eat few spoons of rice as a daily meal.. One should bersyukur and no go against or seek other means where one can eat a proper bowl of rice and or 3 meals a day? Statements such as this is why I didn't even bother reading your wall of text reply to what should be a simple logical conclusion. No offense yeah..

There is every possibility.. Back when it was around 8%, I was already telling ppl.. But ofcourse, got the talk that it'll never be allowed to go down less than the 8%.. then later 7%, then 6%.. We are at 5% now d.. Truth is, no self-respecting agent.. Connected or not will tell you otherwise. Now some ppl are paying loans between 4.x% - 5.x%. Banks can't simply lower their individual interest rates cuz (besides they themselves end up loosing money) doing so will ripple across the the various sectors. Personally, I hope rates will be reduced. For the simple reason that the banks should feel the pinch as we are feeling it too and that we don't bleed as much.

Anyways...This year is done.. You can either make your next year better or remain and complain about bleeding. I predict that those still feeling grateful for 5.5% will remain grateful for another similar return. oh wai, am i predicting too early again? My bad.. Have a Merry everyone.