How about from this article?
[attachmentid=8454132]

-haziq-

If u want to refinance from other bank (maybank to cimb) u will entitle 5% promo rate. It means u will get much lower monthly installments.

Haziq,

Thank you for your explanation.
One question. I currently on full takafull, can I opt not to take takafull?
So my monthly gonna be low a bit from now.

Yeah, you're probably right. Apologies.

So for Jan 2017, don't take into account but for February you should if the loan is disbursed in January.

It'll lower your ROI by a bit.

Or.... kira from Feb 2017 to Feb 2019 for the 3 years. In fact, i think you actually get 1 month free cause start paying in Mar 2017

He is right bro buggie...

He is right bro buggie...

Yes, Apologies to all for the wrong info. I never was good at calculations. 

Yes, Apologies to all for the wrong info. I never was good at calculations. 

Thanks guy for all the useful info. I've been reading on the termination/reinvest method. However, I still couldnt really get the idea behind. If i have a Rm200k loan and have been paying for 3 yrs, then I terminate and re-apply again. Isnt it still remain as 200k + whatever dividend that i have in the account?

Very sorry to hear about this. Did you explain to them systematically and methodically? Showing them facts and figures? Also you have to address their concerns.

What was their concern anyway? You mentioned the biggest issue was risk. What is the risk they are concerned about? Also, why do you need to queue up at the bank every month?

Concerns with dealing with the banks and low amortisation? That's almost a non issue to me. Like anything else in this world,  set a plan and execute it. Sometimes things goes according to plan, sometimes things don't. When they don't, you learn from it. If the bank delays and don't get it done in the same month, you will not earn as much but still more than the current system you're using of rolling the dividends.  As for amortisation, it's fixed and there's a schedule the banks follow. Also a non issue here. You will get back what was discussed earlier.

Well anyways, the system discussed was to  compound the interest, pay from your salary and terminate and reapply every 3 years right? Well since your dad agrees with compounding and paying from your salary, then the only thing is the terminating. No biggie. It's only about 10k in 10 years. So you just lose out on 1k per year. Just do the compounding then.

Laid off from work? Firstly, it ain't that easy being laid off from work in our current labour laws. That's why non performing staff usually gets the 'freezer' instead of being laid off. So unless you're stealing from your company, this is also a non issue. If you've got a job, work at it 100% and work your way up. Trust me,  paying off 1k a month later will so much easier then now. But in the off chance you do get laid off, there is still no risk...  Just terminate the loan. Or if you don't want to terminate, then just go back to what you were doing before...  Pay from your dividends and retain your loan. The reason why this asb loan is such a hit is not that it is low risk.... It is NO risk!

Security vs maximising gains? The old adage goes....  Low risk, low returns. High risk,  high returns. That still holds true. But not for this loan. Here, it's No risk, high returns. Dude, trust me... There is no security issues here. Inflation? What's the inflation rate and how much are dividends? You can immediately tell from the figures. But even if inflation is higher than dividends.... Asb is still one of the highest returns you'd get. You need to change the government to lower the inflation... Lol

Either way, at some point in your life, you need to take control of your own finances. To me, that starts when you start earning your own money. What's stopping you from doing this if you truly believe that it works? Your parents wouldn't know anyway what you do at the bank. In 5 years just show them your asb book and tell them... I'm sure they wouldn't mind as much.

Oh and ASB is not everything. It's just one investment vehicle. As you progress and earn more, you'll discover that this is just part if your portfolio. Theres property, mutual funds, stock markets, business,  etc.

I see...that makes more sense now. Nowadays I tend to overthink things trying to get stuff to be perfect as possible - gotta stop that I guess!

Anyway thank you again bro buggie for the constructive comments and useful explanations. 

EDIT: Just another question, which bank currently has the best user-friendliness when it comes online loan payments?

I see...that makes more sense now. Nowadays I tend to overthink things trying to get stuff to be perfect as possible - gotta stop that I guess!

Anyway thank you again bro buggie for the constructive comments and useful explanations. 

EDIT: Just another question, which bank currently has the best user-friendliness when it comes online loan payments?

I see...that makes more sense now. Nowadays I tend to overthink things trying to get stuff to be perfect as possible - gotta stop that I guess!

Anyway thank you again bro buggie for the constructive comments and useful explanations. 

EDIT: Just another question, which bank currently has the best user-friendliness when it comes online loan payments?

I'm considering to take another asb loan, but which amount not too sure... either 40k or 50k... but with the latest dividend rate for last year, I'm having second thought, whether to take it or not.

I'm considering to take another asb loan, but which amount not too sure... either 40k or 50k... but with the latest dividend rate for last year, I'm having second thought, whether to take it or not.

as long as the dividend is higher than bank rate, just take it lorh

For new loan, I'm thinking to get a 40k/50k loan (5%) with a 5 years takaful, following the compounding dividend route. But this year I'm already 34, meaning next year will be last year for me to get a full 30 years loan. Not sure whether I should get full takaful coverage or only for certain years?