ok same to what i understood, you 8.25% for 1st 10k is confusing me.. thanks bro..

Great bro

For CIMB, any penalty if terminate and reapply?

For the 10 years subsequent to the 20yr loan you get the full profit so I think the return for a shorter loan is good as well or perhaps better than longer tenure since you pay lesser interest.

Better not to take ASB Loan if can afford to pay more. Because you can reach 200k within shorter time.

Take loan if you cannot afford to pay more. Because you need to maximize your account as soon as possible.

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This post has been edited by POYOZER: Dec 27 2017, 10:03 PM

No penalti. But if ur loan is with takaful and less than 2 years im afraid there will be a shortage. Check first how much is your outstanding balance.

This post has been edited by haziqnet: Dec 27 2017, 10:41 PM

I will always choose to pay lesser and use technique to max out my Opm. I can use the extra money to invest in other platform like unit trust. Diversify.

Hi guys, am new to the forum, but am actually a banker with experience in ASB loan. Please feel free to ask any questions and will try as hard to answer.

For your questions Tradefameplz:

Q1: Why max tenure and why not shorter tenure to pay less for the loan.
A1: Most people are in the ASB Loan/financing game only for 3-5 years. So might as well pay lower installment because you are not going to serve the full tenure. You will still receive same dividend although it also means lower principal balance when you cancel the loan. Short term game, you will save more if you maximise the tenure.

Q2: Why cancel in 3 to 5 years, would it be better to settle off the loan.
A2: Depending on the goals of getting the loan in the 1st place. If you have a long term goal, go for long term or settle off the loan. If you plan to use the money in 3-5 years and is using ASB Loan for the means of saving, you cancel it in 3-5 years. In ASB Loan, you earn from Dividend and Principal Balance.

Q3: When to apply and when to start paying
A3: ASNB will calculate dividend pro-rated monthly. To get a month's dividend, the ASB Cert tied for the loan must exist from the 1st to the last day of everymonth. Saying this, ASB will reopen on the 2nd January, meaning the earliest your certificate can be purchased is on the 2nd January, hence you will not get January' s dividend for next year.
Apply now, ask the banker to hold until the said loan 1st installment begin in february.

This post has been edited by muchabi: Dec 28 2017, 01:59 AM

For a long term game, it's quite the same with ANY other loan. Car, Mortgage, etc. Which is, the shorter the better. We give money to the bank lesser.

But people who are taking long tenure ASBf is looking at short term game, i.e. to exit after 3 years. People don't take 30 years to finish 30 years.

So, if its short game you're looking, take long tenure. If you want to finish, take the shortest you can (or want to) pay.

agree with this statement.

just asking if 200k loan, better we stop at 3rd year or extend until 7th year? in a way that still afford to pay monthly loan

Why go to 7th year?

1000 loan @ 6% - 60
1000 return @ 8% - 80
profit return 20 which is only 2%

worth or not?

Ohh.. buddy..

Guys is it possible if I do like this, take ASB loan let say 60k for 30 years, then after let say 3 years of paying, I pay back the loan full amount using the 60k I borrowed plus dividends accumulated in ASB?

Pm me bro

U clearly don't know anything about asb loan.. Numbers all wrong too

This post has been edited by Davez89: Dec 29 2017, 01:05 PM

yup, then why stop ? show me your numbers in simple way of calculation.....fixed, don't just blast without fact

Nah, people just need to learn to read before telling others worth or not hehe