But by doing so, isnt it I'm indirectly paying more interest to the bank? As having longer period and the first few years most of the instalments will go to the interest portion.

That’s right. Banks love this.
But yea we still get it back from the dividend, and you are getting the principle back when you terminate the loan.

what is the current loan interest for asb 200k?

Yes thats correct. However ur current loan if terminate still profit right? Thats what matter. Like i always say dun think too much about the interest u pay to the bank.

This is your decision to make. U ask for an opinion and as the consultant in this field my suggestion for u its ok to terminate moreover if ur opm is not max out 200k yet.

I already reset my asbf 4 times so far and profit. I also use the money i earn to max out my opm.

This post has been edited by haziqnet: May 5 2018, 09:22 PM

Cimb 5% till end of may. Need to submit before or on 20th.

May I know how do I withdraw money from ASB/ASB2 now? Since ASNB is no longer using passbook and all bank seems like do not provide withdrawal slips. I also can't withdraw directly from myASNB portal.

Yes you will begin paying higher again. Which is why I asked you to do the maths and see if the difference is worthwhile or not. Cuz if you leave as is, the flow isn't interrupted and each year, profits higher and principal lower. My 2 sen remains that you crunch the numbers.

Just go to any asnb branches include banks and post office. Fill the asnb withdrawal slip and bring it to the counter. You just need to give the officer your ic and the slip than verify using your thumprint. Done. Very simple and easy.

Ambank asb financing currently rate is 5%. The loan is slamic, no lock in period and takaful is not compulsory. More info can ask me. Thank you.

To eligible for the promo rate only need to apply asbf 100k and above.

This post has been edited by haziqnet: May 6 2018, 02:03 PM

Hopefully soon myASNB could implement sale / switch of units online with the amount credited into your bank account directly instead of having to go to branches.

In the future maybe but if the money from asb acc can easily to withdraw im afraid many of us cant hold the temptation and keep withdraw it. Hehe

Just in case anyone of you is not aware, Ambank is one of the agents currently offering ASB/ASB2 financing as well @ 5% with no lock-in period. In addition, I'm also personally giving out additional rebates on top of the promo rate, so do feel free to PM for more details if interested!

5% interest?how about ASB dividend?6% or 7%?

2017 dividen is 7%. Average dividen for asb is around 7%+ since established.

Dun wori about the interest u pay. Look at this if u apply asbf 200k for 30 years, at year 30 your total payment is only 387k (include interest) while your total earning is 1.6 million.

based on this amount "total payment is only 387k (include interest)"...how much does one actually need to pay in cash (money from direct from pockets) and for how many months need to pay?

Bruh, while I understand why.. As a financial advisor, you shouldn't be making wide sweeping statements such as don't worry about interest being paid or assume that the fund will keep returning higher profits. 30 years is a long time and no real investment units can guarantee such. In the beginning, it began with double digits and now, they have to be creative to make it appear as 8%. There are real risks involved, good thing is the funds allows one to pull out and principal returned. You might want to highlight that instead. Just my 2 sen.

This post has been edited by voncrane: May 6 2018, 03:52 PM

how much interest need to pay to the bank?untung only 2-3% boh...that's mean rugi RM387K but get RM1.6 million?Ringgit depreciation some more...

right bro, maybe got commission if ASB loan approved..even my best friend is using the same technique...when i challenged him, he insisted it is ok pay that much to get that much..when bank officer approached me on this, and i challenged them, they agreed on me...untung so little...FD or PRS bigger...my 3 cents only..

but i would like to see someone has tried apply ASB1 RM200K then 2nd year apply ASB2 RM200K...ASB1 dividend paid ASB2 installement..after 5 years quit loan...get more..many financial advisors shared this "technique" in FB...

in the beginning it too was skeptical...until someone enlightened me....
one just need to do repayment about 13 months from his own pocket......then after that, no need to take money from own pocket for the dividend has been "historically" enough to pay for it self....end of loan period....the loaned amount + accumulated surplus of yearly dividend = Huat-lah.

Actually that’s not the right way to calculate the annual net return for ASB loan (by solely taking dividend minus interest), which in this case is 2% (7%-5%).

When you pay for the instalment monthly, not all actually goes to the interest (can refer to the financial calc). Part of it is the principal amount which you’ll get back when you cancel the loan, which in this case is the surrender value - so the net return is actually more than that, way higher than FD as well with flexibility and minimal risk.

Will share the exact calculation later after work.