Something like that kut..u scratch their back, they scratch your back.
More or less

But its just being of me..hate to pay interest to bank.enough with car loan & house loan where i cant pay cash,so need to borrow.but to invest in asb, prefer with my own money...imho.

Anyway, its good to hv thread like this.ppl can gather more info based on experiences.

In applying for ASB loans, the investments is in the form of certificates right?

So the investments earns interest based on the certificate, then bank-in the interest into the bank account?

Just curious...

Ya. the dividend is inside ur ASB account.. if u wan to repay the loan, u have to transfer it to the bank account so that bank can direct debit the instalment frm ur bank account

is it true asb loan is not halal due to not syariah compliant?

http://www.e-fatwa.gov.my/fatwa-negeri/pen...aham-bumiputera

http://www.zaharuddin.net/pelaburan-&-pern...sb-dan-asn.html

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Added on November 1, 2011, 2:45 pmconfusing..majlis fatwa kebangsaan said in 2008 ASB is harus..fatwa negeri (Kelantan & WP) ckp harus..fatwa negeri selangor ckp tidak halal..nk ikut siapa ni?

-majlis fatwa kebangsaan-
http://www.e-fatwa.gov.my/fatwa-kebangsaan...dan-seumpamanya

-selangor-
http://www.e-fatwa.gov.my/fatwa-negeri/pen...aham-bumiputera

-kelantan-
http://www.e-fatwa.gov.my/fatwa-negeri/huk...amanya-kelantan

This post has been edited by ggalgojo: Nov 1 2011, 02:45 PM

I agree.

Just look at it like this. Let say you are taking the 200K loan. So one month give or take RM1170 according the Maybank loan table. You pay for the first year, then starting from the second year onwards, you use the dividend and bonus to pay (Last year was 7.50% with bonus 1.25%) So how much capital that u used? RM1170x12=RM14040. Assuming the dividend rate stays stable, after 25 years you will get give or take RM470K in your ASB.
So initial capital RM14K. After 25 years turns into RM470K. You don't have to be a financial expert to see that the percentage of gain is BIG!
Entering second year, you don't have to service the loan anymore,you use the dividend to service it. So 1K extra per month to invest in other investments vehicles (Gold/other UTs/Property/etc) The key is to diversify your investments. You have the comfort in mind that after 25 years, there will be half a mil waiting for you.

BTW, this is a good ASB calculator using Excel spreadsheet. Download and play with it for a while. You will see my point.

http://www.irwan.biz/asb-calculator-v3/

This post has been edited by spikey2506: Nov 2 2011, 09:41 PM

if you take dividend each year, you will only get 200k after 25 years.

Nope. Don't take all the dividend. Just take enough to service the loan, which is RM14K plus. Leave the rest of the dividend inside. Last year's rate was 7.50 and bonus 1.25, so you will get around RM15K plus. After first year instant 1K profit. Leave it inside, and with each passing year, do the same, never take more than the amount to pay the loan. With the power of compounding interest over 25 years, it will grow.

This post has been edited by spikey2506: Nov 2 2011, 09:44 PM

Who is on the earth to take ASB loan 200k?????

BLR currently is 6.60 %, do u think is it still financially worthwhile to takeup the ASB loan?

Besides, some of the loan officer told me when BLR increase, signify the economy is improving and the ASB dividend will increase accordingly. is it correct?

thanks.

Currently, still worth it. MBB's lock in period is two years. If after that things doesn't go ur way, you can always cancel the loan. The dividends are still yours.

I planned to take CIMB bank loan coz it offered 4.65% for the first 2 yrs. besides, i got cimb bank accoutn, so it is more convenient to direct debit frm the same bank account, right? it is quite attractive, but the cons is its max tenure is only 20yrs. thats mean i cant have bigger cash flow each year. maybe i need partly finance the loan from my pocket.

This post has been edited by bursalchemy: Nov 2 2011, 11:31 PM

So basically if say the BLR increases to a point where the annual dividends cannot cover your loan repayment, you should cancel the loan and opt out?
Is that correct?

Reason I'm asking is how do we leverage out the ASB loan when say BLR increases and ASB dividend does not increase.

That's the main reason I took MBB, coz it offers 25 years tenure.

Yup, precisely. After that just contribute your own capital into it

Another question, for the loan to work should I be taking in the maximum amount and the maximum time?

Stay away from this ASB loan guys. If this is good, why instead of Maybank or CIMB, PNB didn't promote this?

Those who are smart enough =)



PNB is not a Bank LOL. Dah nama pon loan. ASB loan generate at least 15% each year + total principal at the end of period. + Prinsipal protected. Now tell me if there are better investment. =)

Hahahaha...to pay loan for ASB 200k? other needed how? house? just rent till your ASB loan settle? die laaa...

Tell me if ASB loan if smart enough. Say you commit RM1k each month for this loan, suddenly any emergency occur. Do you have the money from ASB? Might as well you deposit 1k manually. Haha.

By the time you finish the loan tenure, say RM200k for 20years, the amount RM200k in 20 years to come is not the same as today anymore. You are smart

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Added on November 11, 2011, 11:34 am+1

This post has been edited by clutchkick: Nov 11 2011, 11:34 AM

For saving or investment in amanah saham, it is better if we do by our own...if emergency, we can withdraw easily.if pay loan, its burnt lahhhh