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ASB loan, worth to get it???
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cheahcw2003
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 Oct 7 2011, 04:48 PM
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QUOTE(AtMostFear @ Oct 7 2011, 02:53 PM) just found out if we do the loan, we'll get the loan amount deposited in certificate form into our ASB account. how do we check if the loan money is deposited already then? cause if we update our book it won't show the money in certificate form..please correct me I'm wrong. When converting to certificate, bank will keep the original as collateral. U can get the bank to give u a photo copy. When u receive your asb annual statement, it will be stated in the statement which X amount of money is kept in the "sijil" form.
Added on October 7, 2011, 4:49 pmQUOTE(AtMostFear @ Oct 7 2011, 02:53 PM) just found out if we do the loan, we'll get the loan amount deposited in certificate form into our ASB account. how do we check if the loan money is deposited already then? cause if we update our book it won't show the money in certificate form..please correct me I'm wrong. When converting to certificate, bank will keep the original as collateral. U can get the bank to give u a photo copy. When u receive your asb annual statement, it will be stated in the statement which X amount of money is kept in the "sijil" form. This post has been edited by cheahcw2003: Oct 7 2011, 04:49 PM |
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bursalchemy
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Oct 12 2011, 11:30 PM
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Is it better to take ASB loan compared to invest in public mutual equity fund?
what is the rough percentage of return if i leverage with rm20k?
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rosdi1
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Oct 13 2011, 12:05 AM
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QUOTE(bursalchemy @ Oct 12 2011, 11:30 PM) Is it better to take ASB loan compared to invest in public mutual equity fund? what is the rough percentage of return if i leverage with rm20k? I think you can only take ASB loan to buy/Invest in ASB and the share is being used for collateral. If you can get the ASB loan , you don't have to think twice just grab it... You almost get money for free... If you want the loan go to Maybank, RHB or CIMB and ask for the loan. Get to the Max...(RM 200K) For a 20 years loan you only need to have enough money to pay for the first 15 months installment.. that all. The rest of the installment you may pay it with the dividend and bonus later. |
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andrew1st
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Oct 13 2011, 11:02 AM
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Getting Started
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hi,
Im new to this ASB.
Can someone explain to me what is this?
what is the criteria?
how much is the return?
thanks for the explanation. ^^
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bursalchemy
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Oct 13 2011, 03:09 PM
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QUOTE(rosdi1 @ Oct 13 2011, 12:05 AM) I think you can only take ASB loan to buy/Invest in ASB and the share is being used for collateral. If you can get the ASB loan , you don't have to think twice just grab it... You almost get money for free... If you want the loan go to Maybank, RHB or CIMB and ask for the loan. Get to the Max...(RM 200K) For a 20 years loan you only need to have enough money to pay for the first 15 months installment.. that all. The rest of the installment you may pay it with the dividend and bonus later. May i know which bank has better offer for ASB financing? |
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Dely
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Oct 19 2011, 08:06 PM
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New Member
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any chances i can refinance/prolong my ASB loan maybank from 20 to 25years, i messed up taking 20years loan and dividen cover 10months only. assuming at 7%
did some calculation it will require me not to touch dividen for 4 years for it to cover whole year installment from dividen payoff assuming it at 7%..
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da drummer
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Oct 20 2011, 03:21 PM
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QUOTE(ak.hazwan @ Oct 6 2011, 03:12 PM) To get Max return, what u shold do is: 1- take the longest tenure (this will make the return higher. eg: loan 30k,monthly RM175, if the dividen is 8%, ur total return of the year is actually 14.3%. U Pay RM 2100, but ur dividen RM2400, Instant Profit RM300 that year. 300/2100 = 14.3% - Not to forget, you will get the RM30k in 25 years time. Every year profit 14.3%, after 25 Year another Grand 30k. waha! 2 - Split ur ASBloan acc. eg: instead of just 1 ASBloan RM200k, u can do multiple account like RM30k x 5 account + RM50k x 1 Account. The best thing here is if you suddenly hit a jackpot (Bonus/jual tanah,ETC) u can closed 1 account. Or u never roll the dividen, each year get RM16k Dividen. 2 years accumulate, RM 32k, so closed one of the account. Your monthly reduced & now u own 30k of Normal ASB, not ASBloan. By repeating this method, u'll Get your RM200k in ASB within 10-12 Years time. High disipline needed. All da best! confuse here...can we open a few asb account? |
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spikey2506
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Oct 21 2011, 11:26 PM
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QUOTE(da drummer @ Oct 20 2011, 03:21 PM) confuse here...can we open a few asb account? ASB account cannot. But you can open a few loan accounts, as long as the total capital does not exceed 200K |
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spikyz
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Oct 21 2011, 11:55 PM
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but opening few loan accounts, i think there is some disadvantages. the insurance u need to pay multiple times?
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bursalchemy
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Oct 27 2011, 03:59 PM
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Hi, can anybody tell me whether BLR increase, the Dividend on ASB oso will increase?
Added on October 27, 2011, 6:10 pmAnybody knows which bank has the best offer rate currently? I just asked CIMB bank just nw, but i nt sure which bank has the best offer.. hope somebody cna gimme advice. thansk
This post has been edited by bursalchemy: Oct 27 2011, 06:10 PM
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potenza10
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Oct 27 2011, 09:14 PM
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After 3 years of servicing ABS loan, i terminate it.Why? Because I dont like to share my hard earned money with bank  |
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bursalchemy
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Oct 27 2011, 10:36 PM
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QUOTE(potenza10 @ Oct 27 2011, 09:14 PM) After 3 years of servicing ABS loan, i terminate it.Why? Because I dont like to share my hard earned money with bank If i am not wrong, u can just loan let say rm100k, then u pay the instalment for the first year only which is rm657/mth and loan it for 20yrs tenure. Then, u can goyang kaki and wait ur dividned for tht year do the job, and u no need to commit any fund into it anymore. thats mean u only have to contribute rm7,884. After 20 yrs, u can get rm100k. Is it correct?  |
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peachmonkey
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Oct 27 2011, 11:10 PM
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Getting Started
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Hi there. Just wanted to ask if the fluctuations in the BLR could backfire on the ASB loan? For example: Year 0 (Year loan was taken) - BLR = 5.5% Year 1 - BLR = 5.5% Year 2 - BLR = 6.6% At Year 2, due to the increase in BLR the monthly installment for the loan would have also increased right? Will this increase in monthly installment effect the total return or the plan to use the annual ASB dividen to repay back the loan? Appreciate your expert advice |
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potenza10
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Oct 28 2011, 12:58 AM
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If i do saving in asb by my own, i dont hv to bother about blr..
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peachmonkey
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Oct 28 2011, 06:37 AM
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Getting Started
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QUOTE(potenza10 @ Oct 28 2011, 12:58 AM) If i do saving in asb by my own, i dont hv to bother about blr.. That is true, but since the topic is about ASB loan I was just wondering how it would be effected if say the BLR increases. |
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bursalchemy
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Oct 28 2011, 02:22 PM
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QUOTE(potenza10 @ Oct 28 2011, 12:58 AM) If i do saving in asb by my own, i dont hv to bother about blr.. How long could u save rm100k? Leveraging on otheer people money is the fastest way to make money. Thats why entrepuneur can make money through loan borrowing.. |
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potenza10
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Oct 28 2011, 03:06 PM
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Entrepuneur is different.They need capital to start biz.
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bursalchemy
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Oct 28 2011, 03:30 PM
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QUOTE(potenza10 @ Oct 28 2011, 03:06 PM) Entrepuneur is different.They need capital to start biz. Nothing difference. When u dun have capital and knowledge, u use energy/body to earn money. When u got knowledge but no capital, u use brain to make money. When u have certain capital, u use money to make money. The most clever step is use other's people money to make money. That is why i am so interested in banking/insurance company, they cna use the 80% population's money to help them generate more money. Thats why alot of holding company likes to diversify their investment into insurance company, u can have a fixed float of money to do more profitable investment. |
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potenza10
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Oct 28 2011, 04:31 PM
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Banks happy to have people like u 8-)
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bursalchemy
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Oct 28 2011, 05:15 PM
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I think this is mutual benefit right?
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