hi all

i guess this is a silly question but can we withdraw the money in ASB (got from ASB loan) in case of emergency?

Only dividend payout, your capital will remain untouchable until end of the tenure.

hello guys, im planning to get an asb loan from either Maybank or rhb bank, any recommendation on which is better? or even a good agent for the loan? as i would like to listen to a detail of calculation before deciding the amount of loan

Hai Ral,

I may send my colleague to explain if you are keen. Its good product for bumi as savings/retirement. MBB is cheaper than RHB.

Regards

Sorry for noob question..If plan to take 200k loan from ASB, do I need to transfer my current saving in ASB to other account? Or just need to top up the balance to make it 200k?

let say u have rm10,000 in your current ASB saving account.
u apply a RM200,000 loan from ASB
when your ASB loan is approve, bank will issue a certificate of saving RM200,000.
that means now your ASB have RM10,000 of your saving and RM200,000 of certificate.
at the end of the year, which is financial closing, u will get your dividend based on RM10,000 + RM200,000.
but in your book, the amount that appear is only RM10,000 + total dividend.
the RM200,000 will never appear in your book unless the tenure ended.

yes.. same as my case..

Yeap i saw maybank have asb financing-i
http://maybank2u.com.my/mbb_info/m2u/publi...sonal/LOA-Loans

This post has been edited by rosihan: Dec 10 2012, 05:30 PM

HI.Im quite newbie in these thing. What is FD?

Fixed Deposit.

so fixed deposit = simpan sndiri?

NO.
FD = Is a type of financial instrument provided by banks. In which the bank provides investors (orang awam / termasuk awak) with a higher interest rate (2.9% ~ 4.05% pa) than a regular savings account (simpanan tetap), until the given maturity date (tarikh matang).

its more like a personal loan but the interest is slightly lower
in term of paying the interest, Yes, u are paying like 80:20 for interest:principal every month
the % for the interest will decreasing over years while % for principal will increase
for me, i assume all loan repayment method is just the same.

its a Fix Deposit.
some banks offer a tenure period that u can choose, for example, 3 months, 6months, 12 months and 24 months
u have to deposit a minimum amount of saving, for example, RM1000 to open a FD account
within the tenure period, u are not allowed to withdraw your saving even 1 cent.
however, in return, u get a higher interest per annum. at the end of tenure period, u will get your principal + interest.

the ASB loan from bank quite confusing m not sure how they calculate and come out with the figure so i jz follow the schedule replayment

This post has been edited by aoisky: Dec 11 2012, 12:09 AM

same goes to me.
i pay as what as been schedule by the bank
but if u track back your repayment schedule, every month u were charged interest differently
the interest amount is different every single month
as for me, my interest every month was like RM250 (January), RM299 (February), RM248 (March), RM287 (April), RM245 (May), RM286 (June)
as u can see, the interest is up down up down up down and not consistently decreasing.
my repayment schedule is fixed, RM300++ every month and i did create a schedule transaction for that.

hye...i got a question here...there is someone telling me that now u can withdraw 40% of the ASB loan...is that true?
and what is BLR?
huhu

Yup a friend of mine work in banking firm might as well unable to explain to me how the interest calculation he only provide the schedule table and when i asking the calculation formula, i gave me the formula i say wow song long and complex. the interest calculated isn't fix monthly. i wonder sometimes higher sometimes lower. if you read back this thread start from the very beginning you'll may found their provided calculation isn't accurate. other than you follow respective banks' interest schedule and it may change from time to time.

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Added on December 11, 2012, 7:21 amas far as i know ASB loan you can only take out the dividend not the loan amount until you fully settle your loan repayment caused your asb passbook all you can see is your own deposit $ and dividend except the loan amount.

BLR = Base Leading Rate

This post has been edited by aoisky: Dec 11 2012, 07:21 AM

Can someone explain me about simpan sendiri vs ASB loan? I read that simpan sendiri has advantage over ASb loan . Is it true?

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Added on December 11, 2012, 7:23 amit is Base Lending Rate

This post has been edited by Ulysses: Dec 11 2012, 07:23 AM

Your Simpan sendiri term here not FD right ?
Not really true, it depend how you manage your investment

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Added on December 11, 2012, 7:25 amOops my mistake wrongly spell

This post has been edited by aoisky: Dec 11 2012, 07:25 AM