Anyone is serving ASB loan with Ambank? Is it true Ambank does not provide any offer letter to sign for the loan once approved?

I'm asking this because recently my ASB loan with Ambank has been approved and installment has started without me signing any offer letter. It seems like I need to serve the loan without any agreement signed. The only confimation is from sms I received stating loan amount, installment amount and 1st payment due date.

Cimb also same.. I got the offer letter after that...

Guys, can I know any special package offered by Ambank recently?

Guys, can I know any special package offered by Ambank recently?

Yup once application form is signed, you agree for the loan to disburse (did the banker mention about this?). There’s no need to sign any offer letter after loan is approved. You should receive letter from Ambank tho regarding the loan in about 7 working days after loan has disbursed.

PMed!

This post has been edited by Ronald K.: Apr 30 2018, 07:39 PM

Cimb currently offer the same like ambank rate 5% if u interest to apply.

waiting for asb2...please update here if it is available again

Hi all. I haven't checked this thread for quite a while...been working for about a year now since graduation and been consistently paying the loan over the months (love the compounding too).

My current interest rates seem to be 5.35%. Kinda feel left behind when the bros here said promo now is like 5%.

Am I missing something?

PS: I signed up with CIMB.

I'm also currently having a RM100k loan with MBB which I applied in Feb15, currently the interest rate is @5.25%.

I'm not sure whether I should terminate it and apply with the promotional rate of 5%.

Hi fushigidane. I think your asbf rate is 5.10% before and recently the rate is increase to 5.35%.

Well the 5% rates is because of the promotion. How long already is your asb financing? Its more than 1 year?



This post has been edited by haziqnet: May 3 2018, 10:44 AM

Do u have any problem to commit the installment and how long is your loan tenure at mbb?

3 years should be ok to terminate and reapply for better rate.

This post has been edited by haziqnet: May 3 2018, 10:46 AM

Edit: Run the numbers and see if you'll benefit from reapplying.

This post has been edited by voncrane: May 2 2018, 12:25 PM

You do realize that from Feb’15 until now, it’s more than 3 years already....and technically you said 3-5 years is acceptable period to terminate....so he can terminate if he wants to since it’s already more than 3 years.

Oops, my bad.. Given the recent hike.. I read that as Feb 2018. Apologies!

This post has been edited by voncrane: May 2 2018, 12:26 PM

Any ASB loan officer here, Pm me

pm me too

Pmed


Pmed

No problem in commiting the installment and i applied 25 years loan.

Just that i felt a liitle bit demotivated as currently market is having lower rate than mine.

Well since you've servicing the loan for more than 3 yrs which is an acceptable period to terminate, it's okay to terminate and reapply for perhaps a 30-yr tenure instead this time. As for the surrender value, you can consider using it to take a higher loan amount if you have yet to max out your ASB - it's totally up to you.

This post has been edited by Ronald K.: May 3 2018, 11:21 PM

haha i feel you bro. actually even mine also the rate is increase from 5.1% to 5.35%. But i dun mind because i know the return i get is still higher than the interest i pay. I already reset my asb loan on july 2016, so i might terminate it on 2019 or 2020.

But for u actually i will advice for u to reset to get max loan tenure 30 years. You will pay less and u can maximized your OPM moreover if your asbf still not max 200k yet.