I do Hong Leong, among other things. Which is how I always get access to the best rates for my clients.

4.85% is the lowest rate, which I believe is the lowest rate in the market, need RM50,000 application at the minimum

Proof of 4.85%



This post has been edited by wild_card_my: Sep 19 2018, 11:16 AM

Is that with takaful or not?

Minimal takaful required. 50% of the loan amount, and only 5 years. For this lady above, her takaful was only for RM300... when added in the monthly payment is still lower than without insurance

The choice is still yours though. Without insurance, the rate is 4.9%, which is still the lowest in the market without insurance

can you help me abit here, kinda lost. The settlement amount in the example ( RM87,987.77) is the amount we need to pay to the bank if we want an early settlement?

Yes, if the settlement is made as per 17/10/2017. Different dates will have different settlement amount, as your interest accrue dailly (daily rest)

For any questions related to the difference between "Oustanding selling price" and the "OS financing amount", as per any reducing balance loans, you do not pay the interest that you do not accrue.

pm

This post has been edited by personaforever6789: Sep 8 2023, 02:19 PM

Hello all,

I know this may seem like a weird question but may I know what's the maximum tenure on MYR200,000 ASBF if I can commit only rm1203 a month. With and without takaful.

I cant seem to find any reliable ASBF payment schedule online and frankly, it's not convenient for me to go to the bank at the moment.

Erm, the best rate you can get for RM200,000 loan is 4.85% with takaful, of about RM400 one-time premium, at 30 years the installment is only RM1058/month.

Well I am the best man to approach if you cannot go to the bank because I do door-to-door.

Thank you for your quick reply.

I actually want to know what's the tenure on MYR200,000 ASBF if I can pay exactly MYR1203 a month. Not the maximum tenure. Sorry for the confusion.

The reason I'm asking is that I already have an ASBF and I wish to refinance WITHOUT extending my current tenure and WITHOUT increasing monthly payment.

Oh right. OKay, given eveyrthing else is fixed as per my previous post...

For 22 years, it is 1236/m

For 23 years, it is 1206/m

So I guess, you could opt for 23 years, at RM200,400 financing. When you redeem your units from the current bank, you would still get to keep:

1. the difference between the RM200k capital vs the loan outstanding

2. the dividends earned

This post has been edited by wild_card_my: Sep 25 2018, 09:58 AM

My emphasis is on the underlined above... does that mean when switching from old financing to new financing, there is no way to avoid losing a minimum of one month dividend?

There are 2 situations:

1. You have not maximized the RM200k certificate (loan) quota. For example, you have 100k with bank A, and would like to refinance only the 100k with bank B. Apply for bank B, and once approved and disbursed, close bank A. If disbursement (bank B) happens after redemption (bank A) within the same month, the monthly minimum balance for that particular month would remain at RM100k, at no loss of dividend.

2. You have maximized the RM200k certificate (loan) quota. In this case, you would lose 1 month's dividend because redemption (bank A) has to happen before disbursement (bank B), so the monthly minimum balance for the particular month would be RM0.


This post has been edited by wild_card_my: Sep 27 2018, 09:32 AM

Hi Guys,

just would like your suggestion and recommendation.

I have currently around 25K in ASB (self saving , no loan). Recently opened ASB 2 with 100 MYR.

Now, i am thinking to take loan. Whats the best option for me? I do not want to fork out money, my thinking is to use the money in ASB 1 to roll to ASB 2

Can max loan 200k asb1; pay using 25k

Do the math how long can last

Then dividen take out pay asb2

Can loan asb2 max?

1. Any reason why you do not want to take ASB1 financing instead of ASB2? Well to be honest, it doesn't really matter anyway. But ASB2 quota is usually full, only a handful banks have quota for financing of ASB2 now. I guess it may be better to take ASB2 financing if you have the chance as ASB1 financing is always available

2. What you are doing is a roll-over method. I don't usually recommend this because you have more opportunity to make money by paying the installment as is for the next 30 years, but there are reasons as to why people prefer to roll-over their dividends to pay for the installments and I am not one to judge their choices.

3. Typically, at the lowest available rate of 4.85%, the installment for RM200k is RM1058/m. If you want to use the RM25k to pay the installments, I suggest doing so at a monthly basis (yes, you have to withdraw the money manually from ASB account and pay the bank from this), which is better than paying the next 12 months advanced

4. FOr the sake of calculation though, at 1058/m for 12 months = RM12,696 a year. You have 25k, that should be enough for you to get started for both ASB1 and ASB2 at RM200k each.

Let me know.

Faiz Azmi


Only certain banks can do ASB2 max for now. For example, even though I carry CIMB products, its ASB2 financing is perpetually out of quota since their CWA agents love to oversell ASB2 financing to their current customers.

This post has been edited by wild_card_my: Oct 1 2018, 11:39 PM

Hi, I'm interested to take up ASB financing. Pls PM me. Thanks

Hi guys, sharing the latest market rate here:

1. Currently the best rate for ASB/ASB2-financing is 4.85% that I know of as a broker. For this rate it is compulsory to take a 5-year, half amount takaful. For someone who is 30 years old taking RM200k financing, the ARTA is only for RM100k for 5 years, and the one-time premium is ~RM350, which can be included into the loan.

2. If you opt for no takaful at all, the rate reverts to 4.9%, which is still the lowest rate for no-takaful ASB-financing that I know of

3. Here is the repayment table for your reference. The repayment table does not include the takaful premium which differ from one person to another (depending on age and gender)



This post has been edited by wild_card_my: Oct 2 2018, 06:36 PM

Have anyone taken ASB loan previously and decided to increase the loan amount after a few years?

I asked Maybank. They said can. Planning to visit branch soon and ask. But how's the process like and any hidden fees?

Yes, you can. Just apply for a additional financing for the amount that you want. Cost is RM60, RM50 is for endorsement to ASNB and another RM10 for the stamping.

It is also not necessary to go with the same bank, you can shop around for the banks with the current best rate for ASB-financing.

Thanks for easy-to-understand answer! 👍👍