I have quota for ASB2 financing. 4.85% p.a. Let me know

Just went into maybank branch in melaka and there is asb2 financing available. Rate is 4.9pa

They do.

Loan that is approved will be available for a while, and it will be disbursed as the quota is available. You would not be paying any installments until the money is disbursed

1. The financing can still be approved while the quota is full.

2. Once you sign for the financing you will be put into a queue.

3. Once quota opens up, the queue will be move up based on first-come-first-served basis

4. The bank can hold the financing for about 2 to 3 months before the financing auto-cancels

5. You will not be paying any installment until the money is disbursed to purchase your units

The financing auto-cancels. Then you can reapply to get back into the queue. There are a few concerns:

1. The bank cannot hold the financing too long because they need the fund for other things (like mortgages, HP, rolling, etc.)
2. The quota is determined by the market and ASNB, they decide how much of the units are to be opened, so it is beyond the purview of the banks

I do not remember. I need to check on this. The usual payable fees are RM50 for the endorsement from ASNB and RM10 for stamping.

But I will have to get to you on this, that is in the event that the financing is auto-withdrawn, would these fees still be payable. I need to verify this to avoid any misunderstanding

This is from my partner in MBB. Use this info with a grain of salt, because I want you to verify this with MBB officer upon application as well. 

wanna share what i do for the rolling method:

1. take out all the dividends from asb and put it in tabung haji
2. every month take out from tabung haji and pay the asb installment

it is quite hassle for some people to take out the money from asb every month as we need to go to the counter

for tabung haji...we can do it online
by doing it this way...we can maximise our gain

please advise if u guys got a better plan

Yes you could do that.

In fact, some people prefer to finance ASB2 first before financing their ASB because for most banks, their ASB2-financing quota is perpetually filled up. So they want to take the opportunity to get whatever financing is available for ASB2 before taking up financing for ASB later on.

Yes, in a way. It depends on the bank though. If the bank's quota for ASB2-financing is full, even if you get your financing approved you would need to wait in line for the disbursement. This doesn't apply to all the banks as some banks have more aggressive agents than the others, so for this particular banks, their ASB2-financing quota is perpetually full.

As for, as a broker, I know the banks that still have the ASB2-financing available. But these things change on a daily basis, a quota can be filled up at anytime, I just have to keep up with the info.

With this asb dividend, it brings my 2018 haul to 64.5k

This is together with asb2 dividend in 03/2018 (16k) and ASD (6.5k) in 06/2018

All from ASB loan strategy. Not a single cent lumpsum injection other than the monthly repayments for the loans. No proxy even... All from my own account

After this asb dividend, I'm looking forward to asb2 dividends this coming 03/2019, then 06/2019 for ASD.

Compounding interest is addictive!

maybe bank refer to ccris & ctos..
all bank reject me except maybank..
dulu apply asb2f then maybank offer visa infinite card-i
after a few weeks baru tahu got annual fee RM800
change to petronas ikhwan..
now got service tax RM25

Maybank Islamic Ikhwan Visa Infinite Card-i
Annual Fee : Principal: RM800, FREE for the first year, Subsequent years FREE if spend a min of RM50,000 per annum



Maybank Islamic PETRONAS Ikhwan Visa Platinum Card-i
Annual fee: Free for life. Non compounding charges

Good question. Reaching my first goal this coming dividend surpassing the 7 digit mark. That's why i'm so stoked about it.

Well anyways... if there are no urgent need for cash, i'll just let it ride... this asb is actually my retirement plan. After next year the dividends per year will be 65k - 70k++ assuming dividends are 6.5% - 7%. And with compounding interest, soon enough it will be 100k per year and beyond

I have 17 more years to work to retirement.... letting it compound till then will net me 3million or thereabouts. This translate to about 195k dividends per year.... which equals to 16k-17k per month. This should be enough to sustain me till I croak. I'm hoping all my properties and vehicles is settled by then. So this figure should be enough to live on without encumbrances.

Assuming also there are no medical emergencies which could derail the whole plan. This ASB also serves as my emergency fund for anything untoward. My immediate concern is parents medical costs

So yeah... that's the plan

Pretty sure zakat is applicable for the dividend amount only, not your total asb funds.

So if you have ASB totalled of 200k and your dividend is 14k for this year, zakat is 2.5% of 14k (not 200k). Sifoo please correct me if I'm wrong.

Unless your asb funds is from your own saving money (not made from loan or bank financing), then it will fall under zakat simpanan.

Yes.

Some other members posted here that the formula is as per what I shared. We could be wrong, but as far as I understood, it is what it is. Refer to the bolded texts. Also, RM10.7b divided by RM155b = 7%. If I am wrong, sorry eh brothers. But we only have another 6 days to find out: 

"Amanah Saham Nasional Berhad (ASNB), syarikat pengurusan unit amanah milik penuh Permodalan Nasional Berhad (PNB), mengisytiharkan pengagihan pendapatan 6.50 sen seunit dan bonus 0.50 sen seunit bagi dana utamanya, Amanah Saham Bumiputera (ASB) bagi tahun kewangan berakhir 31 Disember 2018. Ini merangkumi jumlah pembayaran pengagihan sebanyak 7.00 sen seunit dengan jumlah anggaran pembayaran sebanyak RM10.7 bilion yang akan memanfaatkan 9.6 juta pemegang unit yang memiliki 155 bilion unit dalam ASB."

https://www.mysumber.com/wp-content/uploads...SB-ASN-2018.pdf