That means the max cap only calculte the principal?

Yup that’s right.

Also should you wish to check the exact loan amount eligible, then have to drop by any ASNB branches as they won’t be able to do it over the phone since IC verification is required.

This post has been edited by Ronald K.: Jan 8 2018, 10:06 AM

Guys, issit worth to cancel my 5% interest, and apply new 4.8% 200k lasb?

How old is your LASB? Do you know it's current principal value? Does it include takaful? How much is your LASB value?

Back to this.
The increase in profit is only around 1%.

And then there's this.

An option also to look at others. (As if I can afford a car or house! lulz)

I believe it is still a reasonable profit rather than the hassle to reduce your financing amount.

Of course there is a lot of investment instruments out there. Smart people leverage the financing to build up capital for other investments. That is what I usually advise my client.

Why would you invest your cash in ASB when Unit Trust can simply give you more than that? Or maybe can just invest in property. Yes, higher risk higher returns.

But this is kinda off-topic since this thread is mainly for ASB Financing/Loan.

1 year. 97 i think, no takaful. 100k with 5% interest b4 this. Plan to upgrade to 200k

If you don't opt for takaful then you will not have shortfall which means you have to pay more to to terminate.

But usually LASB have lock in period? The one without lock-in period is ASB Financing since it is Islamic. You need to verify with your bank first.

If everything is alright and you decided to terminate it, you will save RM 12.15 more every month for that 0.2% difference. But you have the risk of losing 1 month dividend if your application is delayed. Is it worth it? Your call.

On the other hand, you will have more advantage if you have separate financing since you can terminate them separately later. But if that is not your concern, then it's okay.

I see, i think worth it, 12.15*12 = 145.8
145.8*10=1458

One more things to add is that you will gain more cash when you terminate as you will get the principal returned and use it to invest more.

Just make sure that you don't have lock in period with the existing loan.

If you are interested to apply ASBF with CIMB at 4.8%, feel free to let me know.

Specially to all bankers around here, PM me.

I have 50k x 4 ASB loan with maybank - I want to terminate this and reapply a new amount of 200k x 1 for ASB and 100k x 1 for ASB 2 with the lowest rate anybody can offer.

Also, I am quite busy so might need help to handle the application/termination.

PM me with your rate/monthly payment/services offered.

This post has been edited by xeda: Jan 8 2018, 03:58 PM

When u cancel the loan, the bank will sell back the collateral which is your Asb cert. With the money they will settle your loan and give u back the difference.

good maturity to cancel asb loan is 5 years. if lower, then not worth it.

else, ask the bank to calculate if u want ur asb loan terminated. they will help u to to find the difference.

done pm please check your inbox thank you.

For me there is no exact time to cancel your loan. As long as your loan is without takaful you can terminate as early as you want (My advice min 1 year) But if your loan is with takaful is different. You need to check first for any shortfall. If dun have then proceed.

Also your age must be 35 and below. For above 35 im not recommend to do so because your loan tenure will be short. Always check with the consultant or banker for any changes with the requirement eligibility. Cimb have change their requirement since last year. Not many can apply max ASB if their commitments is high. I have some cases apply with A bank but the loan not approved because the requirement is very strict. When he apply at bank sotong his loan was approved. This are the thing you need to consider before terminate and reapply.

Dun simply terminate your asbf for lowest rate than when u try to apply your loan is not approved.

For those who want to make ASBF as your retirement fund, apply at lowest rate is the best. You will get more at the end but make sure you get consult first before do it. Consultant will make roughly calculation for your current profit, and estimate your future profit if u do apply with the new rate. Thats why apply with consultant is the best choice because they can consult you day and night.

sape ejen? pm me pls. tq

Mine is with takaful. Can help me calculate when is the best time to cancel my loan?

Why do want to terminate your ASBF? And what do you mean by 'best'?

If you mean you want to terminate without paying more, then wait until your loan principle is less than your sijil ASB value.

If I terminate loan with takaful, will I get surrender value for that takaful?

Yes if have any. This one consultant cant give u the details only at bank can. Usually u will get the takaful sv in 1-3 month deposit into your bank acc.