yes is truth. but it is limited period. Kindly whatsapp me asap if you want more info.
010-
2907559

NO entitled for interest reduction. it is term financing . Not the flexi housing loan.

Hmmm.. I too was informed recently by Maybank that paying in additional money does reduce principal.. Except unlike some flexi housing loans, this extra payment cannot be withdrawn in similar fashion.. So once extra in, extra in.. Perhaps, its a MBB only thing? Other agents here may clarify.. Thanks.

Edit: Can = Cannot.. Keyboard auto-correct blunder

This post has been edited by voncrane: Jul 1 2018, 09:38 PM

Yes can be done. At cimb this is possible. You have an option to pay for the principal only. By doing this you will reduce your interest. There are 3 mode of payment u can make at cimbclick

- principal payment
- monthly payment
- advance payment

Let say your loan installment is 1300 and u want to pay an extra 200. 1st choose monthly payment to pay your installment 1300. For the 200 choose principal payment.

Advance payment is use when you want to pay lumpsump.

This post has been edited by haziqnet: Jul 1 2018, 09:42 PM

Thanks for the clarification. Lastly, with CIMB..can this advance payments be later withdrawn for any reason? or is it like MBB that once it's in, it can't be withdrawn unless the loan is terminated?

I think the same. Because once you make the advance payment the money already in the system. But maybe can go to the bank and ask them to cancel the balance of the advance payment. But for this one i need to clarify first.

Okay, please update when verified. Sorry for the hassle, wasn't even aware that one could pay extra to reduce loan principal.

Yeah i also know recently when cimb update their online banking. More user friendly than before.

How about Maybank & AmBank?

Hi hi, is asb2 open ?

Keen to take up 400k asbf, agents kindly PM latest bank promo, thanks!

Possible to do so in Ambank but such payment arrangement has to be requested over the counter.

Recap

ASB financing is the best platform for saving and investment.

ASB is one of the unit trust product however the buying and selling price is fix at RM1.00/unit. Therefore those who invest in ASB their capital are not in risk.

The profit of ASB comes from dividend and bonus. With financing you will get an extra profit from the principal surrender value if terminate early.

Why asb financing not asb saving?

By leverage and use other people money (the bank) you can maximize your potential return than normal asb saving.

For example :

Asb saving for 5 years 1080/month you only get RM77,326

With asb financing for 5 years you will get RM96,723 (extra RM19,397)

Thats a big different right. With the same monthly commitment you will get more with asb financing.

Those who have plan to buy house, car, travelling, haji/umrah, savings and so on asb financing is the best.

Ok guys thats all for today.

-haziq-

This post has been edited by haziqnet: Jul 8 2018, 11:02 AM

Hi, i just opened an asb account. looking to start asb financing.

i have done a simple ASB Financing Comparison YTD Jul 18 excel.

do correct me if there is any wrong info in the table.

appreciate your advice on the best financing terms and facility. thank you.

1. Age = 26 years old
2. Plans not to touch dividend to pay for loan.
3. Available cash RM5k-10k, should loan RM190k or RM200k?
4. Any other banks that offer ASB financing ?
5. Current promo YTD Jul 18 (rebates, etc.)?
6. To take Islamic or Conventional?
7. Longer tenure, more profit?
8. What is RHB Board Rate = BR + 2.20% p.a.?



This post has been edited by naquidin: Jul 8 2018, 12:39 PM

how much is the rate for mbb or cimb?

Mbb 4.9 if not mistaken but takaful is compulsory. Cimb promo extend till end of year 5.05%

The excel u make that is the normal rate. For cimb we do have promo 5.05%

I can help with MBB and CIMB, it is 4.9% (promo extended) and 5.05% respectively.

what's the catch with MBB promo?
takaful compulsory and lock in period?

CIMB i know got minimum limit and must be standing instruction

For MBB's 4.9% rate,

Minimum RM50k, no lock-in
Insurance minimum 5 years tenure, full amount (tally with the loan amount)

If existing MBB loan, any chance we can cancel n reapply within the same bank?