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 ASB loan, worth to get it???

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keanoppy
post Nov 20 2018, 08:46 PM

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Hi all, let say I have 20k per month for savings/investment. To max my asb, should I just put there monthly until I get 200k? or should I get a short term loan?
voncrane
post Nov 20 2018, 10:10 PM

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QUOTE(keanoppy @ Nov 20 2018, 08:46 PM)
Hi all, let say I have 20k per month for savings/investment.  To max my asb, should I just put there monthly until I get 200k? or should I get a short term loan?
*
If only interested in one fund? I say you self-fund.. It's better.. Just keep putting in every month till maxes out, then leave to compound. In a year, all considered, you should be able to hit the 200k mark. At that rate, not worth taking a loan.. First year, won't be full dividends, cuz calculated based on lowest amount every month. However, from 2nd year on-wards, you should be good. If you are interested in taking up ASB and ASB2 at once..different strategy might apply.. dependent on your appetite. My 2 sen.

This post has been edited by voncrane: Nov 20 2018, 10:12 PM
keanoppy
post Nov 21 2018, 01:53 PM

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QUOTE(voncrane @ Nov 20 2018, 10:10 PM)
If only interested in one fund? I say you self-fund.. It's better.. Just keep putting in every month till maxes out, then leave to compound. In a year, all considered, you should be able to hit the 200k mark. At that rate, not worth taking a loan.. First year, won't be full dividends, cuz calculated based on lowest amount every month. However, from 2nd year on-wards, you should be good. If you are interested in taking up ASB and ASB2 at once..different strategy might apply.. dependent on your appetite. My 2 sen.
*
Thank you for the feedback. I'll stick to maxing ASB by self funding. ASB2, not really interested at the moment as I plan to take up a higher risk profile investments later on. Thanks again.
voncrane
post Nov 21 2018, 11:07 PM

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QUOTE(keanoppy @ Nov 21 2018, 01:53 PM)
Thank you for the feedback. I'll stick to maxing ASB by self funding. ASB2, not really interested at the moment as I plan to take up a higher risk profile investments later on. Thanks again.
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No problem.. You are welcome.
Bold III
post Nov 22 2018, 09:05 PM

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QUOTE(haziqnet @ Nov 19 2018, 09:57 AM)
Sometimes the process will take longer because too many apply asbf. Even my cimb client take more than a month some of them after 3 month than the loan is approved. That after many email i sent to the officer in charge of the loan. If not i think it will take longer or never approve at all.
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My wife receive sms told that her loan approved just a few days after application.. but till today amount no release in asb acc..
voncrane
post Nov 23 2018, 12:02 AM

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QUOTE(Bold III @ Nov 22 2018, 09:05 PM)
My wife receive sms told that her loan approved just a few days after application.. but till today amount no release in asb acc..
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Give it a bit more.. It'll come through.

Edit... How many days since loan approved and today?

This post has been edited by voncrane: Nov 23 2018, 12:03 AM
mytaffeta
post Nov 25 2018, 10:51 AM

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just curious.. let say i have 250k in ASB; 200k LASB + 50k cash.. and let say asb2 financing still available.. current finance status, could not afford to pay more commitment..

option 1:
take asb2 loan, monthly pay using 50k cash from asb

option 2:
take asb2 loan.. do OD on the 50k cash.. lasb2 monthly pay using the OD money..

option 3:
i have room around 35k to add on my asb.. do OD on the 50k, should get around 35k~.. dump into asb..

about the OD, i have less knowledge on that.. i know interest chargd based on ttl money withdrawn.. but how to pay?

which one is the most wise option?
Bold III
post Nov 25 2018, 09:00 PM

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QUOTE(voncrane @ Nov 23 2018, 12:02 AM)
Give it a bit more.. It'll come through.

Edit... How many days since loan approved and today?
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The application date about 27 oct iinm..
haziqnet
post Nov 26 2018, 11:21 AM

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QUOTE(keanoppy @ Nov 20 2018, 08:46 PM)
Hi all, let say I have 20k per month for savings/investment.  To max my asb, should I just put there monthly until I get 200k? or should I get a short term loan?
*
Well if u can save 20k per month, you can just save for 10 month and earn 200k. Better use your own money than make any short term loan. ASBF you cant make it because min is 5 years tenure. If have less than 1 year I will suggest you make asbf. Hehehe...

My advise dun just save that 20k into asb. Invest in unit trust also to earn more after you save 400k asb (asb and asb 2).
haziqnet
post Nov 26 2018, 11:23 AM

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QUOTE(Bold III @ Nov 22 2018, 09:05 PM)
My wife receive sms told that her loan approved just a few days after application.. but till today amount no release in asb acc..
*
usually after approved loan it only take about 1 - 2 weeks to disburse into your asb account. If more than that please contact the officer who process your loan.
haziqnet
post Nov 26 2018, 11:27 AM

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QUOTE(mytaffeta @ Nov 25 2018, 10:51 AM)
just curious.. let say i have 250k in ASB; 200k LASB + 50k cash.. and let say asb2 financing still available.. current finance status, could not afford to pay more commitment..

option 1:
take asb2 loan, monthly pay using 50k cash from asb

option 2:
take asb2 loan.. do OD on the 50k cash.. lasb2 monthly pay using the OD money..

option 3:
i have room around 35k to add on my asb.. do OD on the 50k, should get around 35k~.. dump into asb..

about the OD, i have less knowledge on that.. i know interest chargd based on ttl money withdrawn.. but how to pay?

which one is the most wise option?
*
dont use OD. The interest charges quite high. Better just wait till you can make finance again. No need to rush. Rather than OD, better u use the dividend you earn every year to compounding or invest in other platform like unit trust.
da drummer
post Dec 3 2018, 01:58 AM

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hye..
i read somewhere about asb loan for 25 years for about 100k then after 5 years terminate loan.
is it really good or just bank romours.tq
faizfizy39
post Dec 3 2018, 02:04 PM

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QUOTE(da drummer @ Dec 3 2018, 01:58 AM)
hye..
i read somewhere about asb loan for 25 years for about 100k then after 5 years terminate loan.
is it really good or just bank romours.tq
*
It is one of the ASB Loan technique. Depends on your goal, you can choose how much to loan and for how many years. Not necessarily 5 years.

Most banks now offer 30 years loan tenure. If still eligible, it's recommended to go for max tenure to maximize profit.

ASB Loan in general is always profitable, but the difference is there are number of ways to maximize the profit.
myteam94
post Dec 3 2018, 02:09 PM

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Hi,

can anyone like teach me basic 101 of ASB Loan

since my parent requested me to apply ASB loan.

i'm not really have an experience with ASB loan as i only been self-funded my ASB.

plan: 15yrs tenure, RM35000.
salary: 2150

faizfizy39
post Dec 3 2018, 02:17 PM

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QUOTE(myteam94 @ Dec 3 2018, 02:09 PM)
Hi,

can anyone like teach me basic 101 of ASB Loan

since my parent requested me to apply ASB loan.

i'm not really have an experience with ASB loan as i only been self-funded my ASB.

plan: 15yrs tenure, RM35000.
salary: 2150
*
I always advise ppl to apply for max tenure eg. 30 years for maximum return if you are still eligible.

Depends on your ability on monthly saving, use that same amount to apply ASB Loan with the same installment amount.
myteam94
post Dec 3 2018, 02:24 PM

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QUOTE(faizfizy39 @ Dec 3 2018, 02:17 PM)
I always advise ppl to apply for max tenure eg. 30 years for maximum return if you are still eligible.

Depends on your ability on monthly saving, use that same amount to apply ASB Loan with the same installment amount.
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at first was thinking of max loan but when i calculate, i'm might not able to cover back the installment
so,i thought wanna start low as RM35000, tenure 15yrs (approx: RM280/month) sweat.gif
faizfizy39
post Dec 3 2018, 02:28 PM

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QUOTE(myteam94 @ Dec 3 2018, 02:24 PM)
at first was thinking of max loan but when i calculate, i'm might not able to cover back the installment
so,i thought wanna start low as RM35000, tenure 15yrs (approx: RM280/month)  sweat.gif
*
I mean not the maximum loan amount but maximum tenure.

E.g. if you are saving RM 280/month, it's better to opt for RM 50K ASBL with 30 years tenure instead of RM 35K ASBL with 15 years tenure.

The first option will earn you more.
annas473
post Dec 3 2018, 03:26 PM

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If live with parent, 1 shot 200k = 1k/m if bank allowed
faizfizy39
post Dec 3 2018, 03:34 PM

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QUOTE(annas473 @ Dec 3 2018, 03:26 PM)
If live with parent, 1 shot 200k = 1k/m if bank allowed
*
And see the money grow. Best move ever thumbup.gif
Bold III
post Dec 3 2018, 04:09 PM

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QUOTE(haziqnet @ Nov 26 2018, 11:23 AM)
usually after approved loan it only take about 1 - 2 weeks to disburse into your asb account. If more than that please contact the officer who process your loan.
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At last amount disburse in my wife asb acc on 28 nov..

But want to ask for an opinion, which one is better to pay for the instalment, monthly or yearly? I mean pay using own source, not rolling the dividen..

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