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ASB loan, worth to get it???
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uk9089
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 Jan 3 2018, 02:26 PM
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Getting Started
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QUOTE(junclj @ Jan 3 2018, 01:13 PM) The exact difference for 200k between 5% and 4.75% is just RM27.50. You can use excel to calculate, just use the formula below: =pmt(rate/12,months,PV) rate is 4.75% & 5% months is the period of your loan, eg 240 months for 20 years. PV is the amount that your personal loan, eg 200,000 for example, =pmt(0.0475/12,240,200000) =1292.45 =pmt(0.05/12,240,200000) =1319.91 Thanks. I'm not sure monthly payment for 4.75% but for 5%, every month im paying RM1,218 for 25 years. Is it too much? My guessing if i take the 4.75% without takaful, I would be paying around RM1,150/month approximately? This post has been edited by uk9089: Jan 3 2018, 04:24 PM |
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foofoosasa
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Jan 3 2018, 02:28 PM
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QUOTE(Ronald K. @ Jan 2 2018, 10:11 PM) Hi, yes you can. Meaning total 400k ASB and 400k ASB2. In your case if your wife wishes to take up ASB loan then she has to do a joint loan with you. I thought the max is 200k for each new account? Unless you have accumulated capital (a) + dividend (b) are not withdrawn, then the amount will be (a) + (b)? |
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uk9089
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Jan 3 2018, 02:30 PM
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Getting Started
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QUOTE(foofoosasa @ Jan 3 2018, 02:28 PM) I thought the max is 200k for each new account? Unless you have accumulated capital (a) + dividend (b) are not withdrawn, then the amount will be (a) + (b)? Husband ASB - RM200k ASB2 - RM200k Wife ASB - RM200k ASB2 - RM200k Total = RM800k |
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pakdamek
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Jan 3 2018, 02:31 PM
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QUOTE(dreamer101 @ Apr 6 2008, 07:36 PM) goolie, A) FD You put in $100 and you get 3.7% B) ASB loan You put in $0 aka NOTHING and you get 1% to 2%. Do you understand the difference? It is FREE MONEY. Dreamer
Added on April 6, 2008, 7:49 pmding_dong, 1) Shop around for the lowest rate. 2) If you assume that ASB dividend rate is higher than the loan rate, it is worth it. 3) You need some extra money to cover the 1 year worth of payment since ASB pay dividend yearly. Dreamer free money but it will affect credit rating. Is it worth it just because of 1 or 2 %? |
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foofoosasa
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Jan 3 2018, 02:34 PM
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QUOTE(uk9089 @ Jan 3 2018, 02:30 PM) Husband ASB - RM200k ASB2 - RM200k Wife ASB - RM200k ASB2 - RM200k Total = RM800k oo with wife lol. ok didnt read it clearly just now. my mistake  |
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barcabodo
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Jan 3 2018, 02:38 PM
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Getting Started
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i terminated my loan on oct last year (actual loan cancellation early nov iinm), so should i calculate until september or can include oct as well?
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maxizanc
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Jan 3 2018, 02:56 PM
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I applied and got 4.8% rate today.
Good rate?
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voncrane
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Jan 3 2018, 03:16 PM
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QUOTE(maxizanc @ Jan 3 2018, 02:56 PM) I applied and got 4.8% rate today. Good rate? I guess... Lowest so far I think is 4.75% |
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maxizanc
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Jan 3 2018, 03:39 PM
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QUOTE(voncrane @ Jan 3 2018, 03:16 PM) I guess... Lowest so far I think is 4.75% Is 4.75 the lowest ever or only lowest in the recent year? |
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voncrane
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Jan 3 2018, 03:46 PM
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QUOTE(maxizanc @ Jan 3 2018, 03:39 PM) Is 4.75 the lowest ever or only lowest in the recent year? Recently? Yes. Lowest ever? No idea.. I do know it used to be above 5% till recently. |
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buggie
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Jan 3 2018, 07:33 PM
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QUOTE(pakdamek @ Jan 3 2018, 02:31 PM) free money but it will affect credit rating. Is it worth it just because of 1 or 2 %? Some banks view this loan as income thus not effecting ability to pay other loans |
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faizfizy39
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Jan 4 2018, 02:46 AM
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QUOTE(barcabodo @ Jan 3 2018, 02:38 PM) i terminated my loan on oct last year (actual loan cancellation early nov iinm), so should i calculate until september or can include oct as well? You don't have to take the problem to calculate by yourself. The dividend is already credited into your asb account. And you can even check the actual amount online. |
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faizfizy39
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Jan 4 2018, 02:57 AM
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QUOTE(pakdamek @ Jan 3 2018, 02:31 PM) free money but it will affect credit rating. Is it worth it just because of 1 or 2 %? For people without any commitment with the banks, yes it is. Even better because it will shows that you can have good commitment to your loan provided with good payment schedule. For people who are trying to apply for any other loans in the near future, then only will get affected. |
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Ronald K.
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Jan 4 2018, 07:49 AM
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Getting Started
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QUOTE(buggie @ Jan 3 2018, 07:33 PM) Some banks view this loan as income thus not effecting ability to pay other loans Yup, not many are aware of this 😅 This post has been edited by Ronald K.: Jan 4 2018, 07:54 AM |
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azrazrazrazr
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Jan 4 2018, 09:14 AM
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New Member
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I am new here. I need some advice.
I have 200+K in my ASB and I took ASB loan for ASB2. Is it worth it take out the 200+K and park in ASW/ASM/AS1M and take another 200k loan for my ASB?
ASW/ASM/AS1M in 2017 give 6%.
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buggie
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Jan 4 2018, 09:20 AM
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QUOTE(azrazrazrazr @ Jan 4 2018, 09:14 AM) I am new here. I need some advice. I have 200+K in my ASB and I took ASB loan for ASB2. Is it worth it take out the 200+K and park in ASW/ASM/AS1M and take another 200k loan for my ASB? ASW/ASM/AS1M in 2017 give 6%. In short, yes. asb 7% + asw 6% = 13% Loan 4.8% therefore nett gain 13% - 4.8% = 8.2% simple summary: 8.2% on 400k instead of 7% on 200k   This post has been edited by buggie: Jan 4 2018, 09:22 AM |
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eastwest
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Jan 4 2018, 09:43 AM
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QUOTE(buggie @ Jan 3 2018, 07:33 PM) Some banks view this loan as income thus not effecting ability to pay other loans actually, how does bank calculate the income from dividend? the bank will want to know the real dividend we get or they just calculated it roughly? |
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Personal banker _ AA
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Jan 4 2018, 09:46 AM
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New Member
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QUOTE(eastwest @ Jan 4 2018, 09:43 AM) actually, how does bank calculate the income from dividend? the bank will want to know the real dividend we get or they just calculated it roughly? Bank calculate 85% from asb statement. And divided into 12 months. Examples: Dividend 8000, bonus 200 Total 8200 x 85% / 12 months = y "y is the income from your ASB" |
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Personal banker _ AA
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Jan 4 2018, 09:48 AM
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New Member
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Hi guys.
Ambank continues the promotion profit rate for ASB financing. 4.75%. If you're interested, can contact me. Lowest rate in the market.
4.75% for 100k and above. Insurance/takaful is not compulsory.
"Together we success"
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Personal banker _ AA
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Jan 4 2018, 09:52 AM
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New Member
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QUOTE(maxizanc @ Jan 3 2018, 02:56 PM) I applied and got 4.8% rate today. Good rate? 4.75% is the lowest in the market recently |
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