one question here..

let say my loan asb is 100k..
pay self until 1year 1st..
finish 1year, take out all deviden..
pay 2nd year with dividen..
finish 2ndyear, take out all deviden..
3&4&5th year same case, pay with all diveden..

after enought 5th year,suddenly i want to stop loan..
how much bank will give money then..

Saw bank Islam 4.90%

Thanks info, these bank islam or mumalats very lembab & main2 kerja, many hidden cost...

May i know how much can i get if i cancel the loan before maturity? will i incur losses compared to self savings?

not sure bout that thou

sure or not bank muamalat...
currently only 3 banks offer asb financing

maybank blr -1.65 up to 25 years
cimb -1.65 up to 20 years only
rhb..nego up to 25 years

Hi All, I'm planning to take RM100k Asb loan this year.

Which bank is preferred? Why should i take loan with this bank?

For e.g. If I'm taking a RM100 ASB loan with RHB for 25 yrs tenure. Then every month i have to pay RM600+ so annually around RM7.2k.

Assuming that I'm just paying the monthly commitment for the 1st year, and using the dividend receive at the end of the year to cover-up the subsequent year payment. How much will i get after 10 years? Can someone come up with the calculation for this situation...assuming the asb Dividen is fixed at 7.5% for the whole loan tenor. I'm planning to serve the loan for up to 10 years only, as i need money for other plan. How much will i gain/loss if any? in term of penalty fee or other charge for not completing the whole 25 yrs as per original contract. Thanks in advance for your advice guys...really appreciate it.

This post has been edited by rizal13: Jan 8 2012, 01:40 PM

Is there any bank that offer islamic asb loan? Maybank already stop theirs.

Any ASB loan officer here from Maybank? I want to apply.

Why dont u go to maybank?

what is ur current rate?
usually if less than 2 years, no saving...
more than 2 years maybe got but dont expect too high...
better check with ur loan officer or go to the nearest branch...

If I can find some spare time to go, I will go. Just asking if there is anyone who willing to come meet me at my office.

I believe it just take less than half an hour to apply.

ASB loan dari RHB ada lock up period ke? saya ada ambil ASB loan dari RHB pada tahun 2008, tapi rasa nak stop sbb nak kecilkan komitmen utk dapatkan pinjaman perumahan sebanyak mungkin...please advice...

I think max lock in for ASB loan just 3 years

Btw, cant use the dividend to roll money for monthly installment like many ASB loan guru's here?

This post has been edited by potenza10: Feb 13 2012, 11:43 AM

agree with potenza, lock in only 3 years....no penalty

after that reapply loan with other banks. I believe RHB rates are higher in the year 2008. CIMB and MBB are offering lower rates today @ BLR-1.65%.

So you can save on monthly installment with no penalty.

Not worth unless investment return 12% or more.

Key point here is 'self discipline'..how many of u can tahan nafsu when get your dividend in 5figure? Hehehehehe...

OK that was some fun number crunching. I used this guy's calculator here. In short for what it's worth, it pays rather good I think. If I did everything correctly.

First, assumptions:-

• The difference between BLR and ASB return rate is roughly constant throughout the tenure, barring recession/depression every decade or so.
• ASB return (dividend + bonus) is ~9-9.5% per year.
• Inflation rate is at the average of 4% per year.
• This country doesn't go to war.

Say you take a RM100K loan over 25-year tenure, and pays off the first year out of your own pocket money (looks like a common practice). This amount to RM6984 (Maybank rate). This is the only time throughout the entire tenure where you would have to pay the loan using your money.

You started paying the loan from the second year on using only the dividend and on the 5th year, you take out another RM100K loan for the final 100K shares (this is the part I'm not sure if it's possible), also being paid using the dividend.

By the end of both loan tenures (25+5 years), you'd have around RM670K. That's a pretty useless figure, so adjusting for inflation it's ~RM200K in today's money. Paying RM7K for RM200K is not a bad deal, I think. The return would be magnitudes higher if you use your own money, but that would be more than RM7K and frankly why would you want to put RM200K of your cash in ASB when you'd probably get better return elsewhere?

Some catches that I can see:-

• You're effectively surrendering your quota of shares to the bank, though you get them back after paying off the loan.
• It's very long term and frankly is only good for pocket money. But hey I get to buy a house with RM7K.
• It shouldn't be your principle/main investment (seriously, 200K after 30 years...).
• Requires huge self-restraining super power.

IMO it's good if you're just starting up or you're just damn dirt poor (like me).

Or course, I'm also a total financial illiterate (engineering background ) and logic can only get you so far so please enlighten me if there's something I miss. Otherwise I'll probably going to look into applying for one

This post has been edited by Fhaarkas: Feb 14 2012, 01:57 AM

yes, you can top up additional loan if you already have an existing loan.