I terminated my ASB loan from maybank and reapplied again with a lower interest rate two weeks ago. Loan approved but yet to disburse, can I cancel? Any penalty fees? I didn't have a copy of my application form so had no idea...

Same thing. Amanah Saham = Unit Trust

just that one is govt, safe, guaranteed, bla bla

Yes, there will be penalty fee. But idk how much.

Hi..any BSN/Affin/Ambank banker here that can provide 4.7-4.75 interest with NO takaful/will fees etc. ?
If yes, pls do PM me..would like to apply 200k loan for ASB b4 end of this year.. 0192222304 Saiful

ASB and Unit Trust are basically the same things. But ASB Financing and UT is not.

There's a lot of way to invest and maximise your returns when you have a lot of cash and it depends on your target and comfort. Different ways have it's own advantages and disadvantages.

Just wondering. Why do u suddenly want to terminate, again?

This post has been edited by faizfizy39: Nov 14 2017, 08:43 PM

My friend has been asking me to start Unit Trust as well so im looking at the benefits, so let say for short term let say 3 years if i dump 100k on Unit Trust not bad also aite?

UT got hidden charges.

asb dividends already deducted the service charges

because upon the approval of my $200k loan they quoted me a takaful of RM8.6k... seriously wtf...
I'm planning to call the general line to cancel the loan cos i dont dare to talk to the consultant

I'm looking to refinance the asb loan from ambank @4.75%

I think this might be a little bit out of topic. Nevertheless, Unit Trust returns depends on the fund itself and also the responsibility of your consultant/agent. But in general, usually Unit Trust is not advisable for short term investment.

I'm not sure about Maybank, but for CIMB, after the financing is approved, the consultant has to revert back to the bank on behalf of client either the client agreed to proceed or not after the client receive and read the Offer Letter.

You may try talk to the bank and state that the consultant never mention about the takaful things but technically you already agreed to it since you have singed the documents.

This post has been edited by faizfizy39: Nov 15 2017, 08:59 AM

This is why one should always read the fine print and know exactly what you are getting into before signing. A consultant may not fully explain things, that's where black and white shine.

I know the insurance is compulsory and the premium will only be calculated during the loan application process. It is just the ridicurious charge that is putting me off.

Thanks. I'll try to call the bank to check if there's any penalty to cancel the loan before disbursement.

Agreed... It's in the bank's interest to make as much money as possible. Can't be helped. Hope it's resolved amicably and you don't loose... much.

what is current rate?

An experienced consultant should be able to estimate more or less the amount of takaful charges depending your tenure. Assuming your financing tenure is 30 years, total of RM 8.6K should be around 8600 / 30 / 12 = RM 23.89 monthly.

Still 4.8% promotion extended till end of year. But PNB Freeze Period is on 19th Dec 2017 so to be safe, apply by 30th Nov 2017.

let say I take rm30k loan + Rm1k( some amount of takaful). So the new principal will be RM31k, correct?

Yes correct. The principal + interest deduction will start at 31k

Edited

This post has been edited by haziqnet: Nov 15 2017, 01:02 PM

ASB and ut is the same also call as unit trust investment

The only difference between ASB and normal UT,

ASB price per unit is fix at 1.00 while UT is variable.

For long term investment unit trust can give better return than ASB. You also will get to choose difference classes of fund portfolio depend to your risk tolerance and objective.

If u seek for high return invest in equity fund will be a gud choice as it have high volatility and most of the asset allocation will invest in equity. Usually in equity fund the fund manager will invest in top holding company that are listed in Blue chips or we know it as Bursa Saham


If u r moderate investor u can choose between moderate + ekuiti fund.

And if u r only want to save money for emergency fund and short game plan, mixed market, bond, sukuk, fix deposit is the type of fund you should invest in.

In unit trust to invest in different classes of fund is a must to reduce the risk and to make sure your money grow well in long term.

There are 2 ways to invest either using cash or kwsp acc 1.

If u dun have time to monitor your investment, hire a consultant is a gud choice as they will plan suitable investment portfolio depend to your risk tolerance and objective.

Is unit trust is very high risk. The answer is no if u already diversify your investment.

How unit trust make profit?

-Capital gain
-Distributions
-Switching

Hopefully this will help u guys to understand better about unit trust.




4.8% at cimb. Need to apply before 10th december

Call the bank and ask them if they already proceed your loan for disbursement or not. If not u can always cancel your loan application eventhough it already approved. But make sure to do it fast. Because the windows after approval and disbursement only take a week. If already more than 1 week there is 50/50 u can cancel the loan. If not u need to atleast paid for 1 month and apply for termination.

May i know why u want to terminate after already reapply with the new rate? Its because of takaful? If u apply at maybank yes the takaful is mandatory. The min years u can take is 5 years only. You should apply at other bank that give the loan without takaful compulsory.

This post has been edited by haziqnet: Nov 15 2017, 01:04 PM