because why? Because it is fruitful to them la bro...aiyooooo.the loan takers are still blind.they suck your dividend every year to enable them make more money EVERY year..i mean EVERY year.It is different between enjoy dividend per year vs hoping duit pokok at end of loan tenure.

Let me put like this. U buy a house secara hutang and give the pemiutang a right to collect the rent for let say 30yrs during loan tenure.when finish 30yrs, the housr is yours.at least the house price will appreciated according to 30yrs time frame.AT LEAST.

But it doesnt work with your asb loan...come on laaaa...100k is still 100k in 30yrs future.

This post has been edited by potenza10: Dec 22 2011, 12:54 PM

If one day, Bank interest rate rises and ASB dividend is low, it's a GG for you guys who are taking ASB loan..

2011
Dividen from year 2010 - Rm 7,+++
Paid = Rm 4,200

2012
Dividen from year 2011 - 7,+++
To pay = Rm 4,200

[quote=OneBuck,Dec 22 2011, 10:57 AM]
[quotebursalchemy,Dec 21 2011, 10:44 PM]
what are the benefit taking ASB islamic loan?

[/quote]

For me shariah compliance.

[/quote]


thats mean muslim cannot take conventional loan? must take islamic bank loan for shariah complaince?

[quote=bursalchemy,Dec 22 2011, 11:14 PM]
For me shariah compliance.

[/quote]
thats mean muslim cannot take conventional loan? must take islamic bank loan for shariah complaince?

[/quote]

For me, in order for them to be shariah compliance, the answer is YES!

Muslim should TRY to be the best in meeting the Islamic rules but in my humble opinion, it can be done slowly but consistently.

For example, you have conventional housing loan and it is troublesome to cancel it and lead you to greater loss. So you may hold it and pray to God to forgive you.

I know that conventional loan give a better rate compared to Islamic but I think, in Islam, great return in term of monetary is not main target but to follow the God rules is the one.

Yes and I do notice some state give declaration that ASB is HARAM but some state and national fatwa declare it as HARUS. To non-Muslim, this is not inconsistency, but there is a clear reason why it is happen.

Pls, no offence to Muslim who take conventional loan. Feel free to disagree.

We should discuss it on RWI then.

This post has been edited by OneBuck: Dec 23 2011, 10:15 AM

the so called Islamic loan are just a back door riba as per Imran Hosein.
And i definitely agree with him..

for me asb loan is for those who think about long term, after retirement where that day we don't have enough capability to do work, but at least we still have money to keep survive + for our children..

frankly, im still young.. i take rm200k asb loan for 25 years tenure. my target is 1m after 25 YEARS. if i'm not survive that long, it also for my family's benefit. it's ok.
my method, i'm not touching my dividend at all. don't worry, if some say suddenly got emergency where u need to use money immediately, it's your choice. u can cash out that dividend anytime after 1 year. it's ok

based on example situation ... lets say dividend is 7% every month (worst case scenario) .. itu belum campur bonus lagi

i pay rm1132 per month / rm13584 per year.

so total i pay rm339600.

but then... after 25 years, i manage to get rm 1,014,473.


so, conclusion is .... i just pay rm339,600, but i get rm1,014,473 back.

instead if i'm not taking advantage of asb loan ... i just got that rm339,600 from my own saving only.

so, ape yang rugi nyer amek asb loan? idop sengsara 25 tahun? kalau betol la rasa macam sengsara, amek method laen. tahun ke-2 byr guna untung dividen aje, tak payah nak sentuh dah duit gaji tu. 1 sen pon tak luak dari gaji. cuma untung sikit la, sikit takpe... at least still ada. dari tak ada langsung?

waiting to update my asb passbook
last year get 9k dividen from 100k that i make loan

Big salary u got there to pay asb loan more than 1k/month...plus housing loan and car loan how much will cost u? Exceed 3k ady?

Let's put you in another situation. Let say you didnt take the ASB loan but instead, you put the RM 1132 every month directly into your ASB account, so after 25 years, how much will you have gain (including the dividend and all)? Is it more than the RM 1,014,473 MINUS the RM 339600?

It is a fully secured loan with low risk, bank for sure for targetting on this since BNM has tightened the mortgage loan.

he will end up with half a million only because he can't topup the savings after the 10th year due to the 200k limit.

if he still saves 1132 monthly after the 10th year somewhere else (assuming without dividend), he will have 600k in total only.

im lucky coz open asb acc at post office..so no salesperson ...btw can we potong our salary straight for asb?

the answer is NO. u can try google comparison between asb loan VS simpan sendiri. there's lot across internet. big amount of starting capital give more dividen profit....

(rm1132 x 12) x 7% = u only gain rm950.88 for first year

instead of asb loan ..

((rm200,000) + (rm1132 x 12)) x 7 = try calculate urself about rm14,000 first year only. lets say, after 5 years if u wish to terminate the loan, u already have rm105k profit++ .... eventough u just spend rm67920 for 5 years. still invest benefit maa... this is investment, not free money.

like i said before, diz is my long term saving... 1,014,473 MINUS the RM 339600 = rm674,873. still got benefit
25 years might be so long, but some people do the 5 years trick. no need to settle back all the rm200,000 ....
but the rm200,000 help boosting divident profit even in short term period compared to starting with rm0 ... cheers

This post has been edited by miellennium: Dec 24 2011, 12:04 AM

If your ASB loan and payroll account in the same bank, it is possible.

good explanation bro

this is what most people don't see

I took a housing loan and the manager straight give me an ASB loan for 200k. for the first year it will automatically deduct from my saving account RM1k++ then the 2nd year would be deduct from the ASB dividend. its from maybank, and i was not really listening to their explanation, what i care was at that time was my housing loan. lol. but i think its worth it for long term probably in 20years time since im still 23y.o this year

which bank u get it from ?

From my point of view, for those who invest their money in ASB via bank loan, the key word is "Leverage". Even in property investment, the key word in leverage. This leverage can be either positive or negative (for some it is called double edge sword; it can be good, or in can be bad) In the case of ASB loan, it would be ASB dividend vs. Loan interest.

Latest bank rate from RHB islamic is IBR - 1.55% = 5.05%

Latest ASB dividend for 2011 is 8.8%

Based on table given by RHB, if your loan say 100k for 25 years, yearly installment that u need to put is RM7,056.

By having cash RM7,056, and park the money in RHB account, make a standing order to auto deduct either monthly/yearly, the 2nd year of loan payment to the bank is covered by the dividend declared by ASB. If the account is in positive manner yearly (ASB dividend vs. RHB loan), in 25 years after maturity, u can enjoy that amount of money without having to inject additional money from your own pocket monthly during the 25 years of loan service.

As for me and it is up to individual which model of investment you would want to go. Either opting 100% loan, or 100% of monthly saving. However, if the keyword you are using is leverage, I opt for 100% loan. However, what I had done is, I called it "a double joy investment". Since max ASB you can invest is limited up to RM200k/individual name, make loan of certain amount from the bank, and make monthly saving as well, which is subject to your own comfortable saving amount. The higher saving amount you are willing to commit, the less ASB bank loan should be. Having the model in place, u could enjoy xtra $$$ as compared to 100% loan. I've done this during my "bujang" time, however after married, due to other commitments , I've drawn out all 200k from my previous saving in ASB and opt of another round of ASB saving via 100% loan.

My 2nd cent opinion.

Guys ... kindly advise
Which bank the lowest interest for ASB @ 200k for 20years ?
If pay advance 12months is easy they approve right, then dividend will cover each year right ?

Thanks in advance ...