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 ASB loan, worth to get it???

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haziqnet
post May 7 2018, 04:59 PM

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QUOTE(chilskater @ May 7 2018, 12:27 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...
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Rugi 387k? How can u rugi when u get 1.6 million?

In asb financing u get 2 income, 1 from the principal u pay and 2 from the dividend u get. The more dividend u compounding the more return u will get.


Here i show u there comparison between asb saving and asb financing.

This post has been edited by haziqnet: May 7 2018, 06:24 PM


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haziqnet
post May 7 2018, 05:04 PM

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QUOTE(chilskater @ May 7 2018, 12:32 PM)
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...
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Go read my post 3266. Asb financing return so far is higher than FD and PRS return since established. However every investment there is a risk. In asbf the only risk if the interest is higher than the given dividend and if doesnt get any dividen at all.

Lucky u dun see me. If u see me u might end up apply asbf with me hehe. Ur friend maybe cant explain well thats why u see the return in asbf is little compare to FD and PRS.

This post has been edited by haziqnet: May 7 2018, 06:55 PM
haziqnet
post May 7 2018, 05:18 PM

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QUOTE(voncrane @ May 6 2018, 03:41 PM)
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.
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Dun get me wrong bro voncrance. What do i mean about to not worry about the interest is because as long as the return is higher than the interest payment why should worry. You only need to worry when the interest payment is higher than the return u get. But if that happen u can always terminate your asbf and thats it.

I dun want people to look asbf as very high risk platform because its not. Asb performance since established is very consistent and without fail give dividend.

If u search for the interest and dividend history u can see the current interest is low compare to the previous. The bank always keep the interest relevant for the customer who invest in asb financing. As long as asbf still relevant than use it. Once its not than dont and terminate it. Very simple.

This post has been edited by haziqnet: May 7 2018, 06:28 PM
haziqnet
post May 7 2018, 05:23 PM

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Edited

This post has been edited by haziqnet: May 7 2018, 05:24 PM
Ronald K.
post May 7 2018, 05:28 PM

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QUOTE(Ronald K. @ May 7 2018, 01:33 PM)
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.
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Firstly, there are 2 returns involved in ASB loan, one is dividend & bonus, while the other is surrender value.

As promised, below is the calculation of net return for the 1st year:

- Assuming a 200k loan was taken in Jan last year without takaful @ 5% interest while dividend for the year is 7%.

- Monthly repayment for a 30-yr tenure is RM1,074 so for the first year he/she has paid RM12,888 (1074x12).

- As for the dividend that they received in early Jan this year, it was 7% of 200k which is RM14,000.

- Hence difference of RM1,112 (14000-12888) between dividend and 1st yr instalment is one of the returns that they received at the end of the first year.

- In addition, there's also surrender value (principal amt) involved which is accumulated along the loan tenure - in this case loan balance after 1 yr is about RM197,049 therefore surrender value at the end of first year was 200k minus 197,049 amounting to RM2,951.

- So, to deduce the net return for 1st yr, we take total net return (1112+2951) over 1st yr instalment (12888) which is roughly 31.5%.

Of course, there's risk involved whereby interest and dividend are not fixed - however ASB loan offers flexibility in which it can be terminated anytime without any penalty charges so pretty much no worries on that.

Hopefully this helps, thanks smile.gif

This post has been edited by Ronald K.: May 7 2018, 05:30 PM
haziqnet
post May 7 2018, 05:41 PM

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Edited

This post has been edited by haziqnet: May 7 2018, 06:29 PM
haziqnet
post May 7 2018, 05:57 PM

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Here i show u the amortization timetable to show u how much interest and principal u pay.

As u can see in the timetable the monthly installment u pay is dividing into 2 part, 1 the interest and the other one is the principal.

The interest will decrease and principal will increase upon payment. This is because the interest is calculating base on the loan balance.

The longer u pay the lower your interest payment will be. Thats why i keep telling u to not worry about the interest.

The principal u pay will get it back once u terminate your asbf account. Its call as principal surrender value and this is your money not the bank.

This post has been edited by haziqnet: May 7 2018, 10:02 PM


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chilskater
post May 7 2018, 06:04 PM

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QUOTE(Ronald K. @ May 7 2018, 06:28 PM)
Firstly, there are 2 returns involved in ASB loan, one is dividend & bonus, while the other is surrender value.

As promised, below is the calculation of net return for the 1st year:

- Assuming a 200k loan was taken in Jan last year without takaful @ 5% interest while dividend for the year is 7%.

- Monthly repayment for a 30-yr tenure is RM1,074 so for the first year he/she has paid RM12,888 (1074x12).

- As for the dividend that they received in early Jan this year, it was 7% of 200k which is RM14,000.

- Hence difference of RM1,112 (14000-12888) between dividend and 1st yr instalment is one of the returns that they received at the end of the first year.

- In addition, there's also surrender value (principal amt) involved which is accumulated along the loan tenure - in this case loan balance after 1 yr is about RM197,049 therefore surrender value at the end of first year was 200k minus 197,049 amounting to RM2,951.

- So, to deduce the net return for 1st yr, we take total net return (1112+2951) over 1st yr instalment (12888) which is roughly 31.5%.

Of course, there's risk involved whereby interest and dividend are not fixed - however ASB loan offers flexibility in which it can be terminated anytime without any penalty charges so pretty much no worries on that.

Hopefully this helps, thanks smile.gif
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explanation like this lah i want..kudos bro..cant afford to pay RM1K per month for 12mths for the loan..how to calculate for 50K, 100K and 200K..eh btw interest is 5% fixed or follow BLR/OPR?
Ronald K.
post May 7 2018, 06:21 PM

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QUOTE(chilskater @ May 7 2018, 06:04 PM)
explanation like this lah i want..kudos bro..cant afford to pay RM1K per month for 12mths for the loan..how to calculate for 50K, 100K and 200K..eh btw interest is 5% fixed or follow BLR/OPR?
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No prob bro. Same calculation method is used regardless of loan amount - just that the repayment, dividend & principal amt have to be changed accordingly. As for the interest, it follows BR.
MUM
post May 7 2018, 08:41 PM

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QUOTE(Ronald K. @ May 7 2018, 05:28 PM)
Firstly, there are 2 returns involved in ASB loan, one is dividend & bonus, while the other is surrender value.

As promised, below is the calculation of net return for the 1st year:

- Assuming a 200k loan was taken in Jan last year without takaful @ 5% interest while dividend for the year is 7%.

- Monthly repayment for a 30-yr tenure is RM1,074 so for the first year he/she has paid RM12,888 (1074x12).

- As for the dividend that they received in early Jan this year, it was 7% of 200k which is RM14,000.

- Hence difference of RM1,112 (14000-12888) between dividend and 1st yr instalment is one of the returns that they received at the end of the first year.

- In addition, there's also surrender value (principal amt) involved which is accumulated along the loan tenure - in this case loan balance after 1 yr is about RM197,049 therefore surrender value at the end of first year was 200k minus 197,049 amounting to RM2,951.

- So, to deduce the net return for 1st yr, we take total net return (1112+2951) over 1st yr instalment (12888) which is roughly 31.5%.

Of course, there's risk involved whereby interest and dividend are not fixed - however ASB loan offers flexibility in which it can be terminated anytime without any penalty charges so pretty much no worries on that.

Hopefully this helps, thanks smile.gif
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thanks for the calculation workout.....
does the "surrender value" obtained by a formula?

wongmunkeong, if I am not mistaken, you do have an excel file about calculation of this.....
this "knock, knock" is just to summon you here to have a look at the above calculation and btw, did you excel take in to the surrender value too?
haziqnet
post May 7 2018, 10:01 PM

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QUOTE(MUM @ May 7 2018, 08:41 PM)
thanks for the calculation workout.....
does the "surrender value" obtained by a formula?

wongmunkeong, if I am not mistaken, you do have an excel file about calculation of this.....
this "knock, knock" is just to summon you here to have a look at the above calculation and btw, did you excel take in to the surrender value too?
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Do u mean obtained by formula how to get the principal surrender value?

Its very easy to calculate for surrender value just deduct your loan amount with the loan balance.

I already show the formula to calculate interest and principal in my previous post not long ago.

Here i share it again

The formula use to calculate interest, principal and loan balance

Step 1 calculate the interest

Formula : n/365 x interest rate x loan amount / balance

Example

200k
5% interest rate
Monthly 1074

January
31/365 x 0.05 x 200,000 = 849.31

Step 2 calculate principal

Formula : installment amount - interest

1074 - 849.31 = 224.69

Step 3 calculate the new loan balance

Formula : last loan balance - principal

200,000 - 224.69 = 199,775.31

Repeat using the 3 step above for next month and afterwards.

U can put this formula into your excel. Hope this can help u.


For easy method just install financial calculator apps then go to loan calculator, fill the loan details, click calculate and then click amortization. The amortization time table will show the interest, principal and loan balance.



This post has been edited by haziqnet: May 7 2018, 10:48 PM
Ronald K.
post May 8 2018, 01:40 AM

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Yup can refer to the amortisation table from financial calculator app as mentioned by haziq for the loan balance after each particular mth - and from there we can determine the principal amt (surrender value) by taking Loan amt - Loan balance.

This post has been edited by Ronald K.: May 8 2018, 01:47 AM
MUM
post May 8 2018, 08:35 AM

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QUOTE(haziqnet @ May 7 2018, 10:01 PM)
Do u mean obtained by formula how to get the principal surrender value?

Its very easy to calculate for surrender value just deduct your loan amount with the loan balance.

........
U can put this formula into your excel. Hope this can help u.
For easy method just install financial calculator apps then go to loan calculator, fill the loan details, click calculate and then click amortization. The amortization time table will show the interest, principal and loan balance.
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thumbup.gif Thanks....appreciate it... notworthy.gif notworthy.gif
adamhzm90
post May 8 2018, 12:18 PM

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QUOTE(chilskater @ May 7 2018, 06:04 PM)
explanation like this lah i want..kudos bro..cant afford to pay RM1K per month for 12mths for the loan..how to calculate for 50K, 100K and 200K..eh btw interest is 5% fixed or follow BLR/OPR?
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why die die also want to take rm200k loan?

mine is only for rm45k because i want my monthly repayment to be under rm250 at the time
chilskater
post May 8 2018, 11:52 PM

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QUOTE(adamhzm90 @ May 8 2018, 01:18 PM)
why die die also want to take rm200k loan?

mine is only for rm45k because i want my monthly repayment to be under rm250 at the time
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Financial advisor normally acah2 clients ambik loan 100k-200k for 30 yrs..besar sikit commission..hehe..1.6M-1.8M at the end of tenure..hehehe
annas473
post May 9 2018, 11:16 PM

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QUOTE(chilskater @ May 8 2018, 11:52 PM)
Financial advisor normally acah2 clients ambik loan 100k-200k for 30 yrs..besar sikit commission..hehe..1.6M-1.8M at the end of tenure..hehehe
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How to become financial advisor? biggrin.gif
annas473
post May 9 2018, 11:16 PM

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QUOTE(chilskater @ May 8 2018, 11:52 PM)
Financial advisor normally acah2 clients ambik loan 100k-200k for 30 yrs..besar sikit commission..hehe..1.6M-1.8M at the end of tenure..hehehe
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How to become financial advisor? biggrin.gif
voncrane
post May 10 2018, 02:03 AM

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QUOTE(annas473 @ May 9 2018, 11:16 PM)
How to become financial advisor? biggrin.gif
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Oh, it'll hit you once you have learnt enough not to ask such a question in the first place.. tongue.gif
annas473
post May 10 2018, 07:11 AM

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QUOTE(voncrane @ May 10 2018, 02:03 AM)
Oh, it'll hit you once you have learnt enough not to ask such a question in the first place..  tongue.gif
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biggrin.gif happy holidays
Ronald K.
post May 10 2018, 07:49 AM

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Hahaha happy holiday guys biggrin.gif

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