I read here

http://canyouberich.blogspot.com/2011/11/a...u-asb-loan.html

&

http://beritasemasa.com/pelaburan-pinjaman-asb-asb-loan

the advantage of loan is because of the "bulk" money right? so the dividend will be higher.

hmm, i wonder how to calculate the dividend if we invest in asb using our own money (using ddi)? let say i put RM100 every month in my asb starting January 2012, so in January 2013 i will have RM1300. so when pnb announce the dividend for that year is 8%, i wont get .08 x 1300 = 104 right? is there any formula for using monthly debit like this?

what does this base lending rate means?
i saw a lot at home loan and asb loan...sorry...im a newbie...

thanks for the formula. i think its correct. btw, i found this asb dividend calculator: calculator

I just ask the loan officer they said upfront payment around RM70 then they will help to get the loan for you
Im thinking getting 100k loan for 20 yr
After the calculation approximately 10yr to get 100k but have to struggle paying 660/month for 1st year but it worth it

is this real?

be careful when u choosing your word to inform others
it may cause misleading info
upfront fee is different, people can assume it as different "upfront" or bribe
the actual fee is PROCESSING FEE. its not that expensive and should be less than rm100.
other than that, u also need to pay insurance for secure your loan.

If u are comparing between investing in ASB Loan and "simpan sendiri",
it is much better for "simpan sendiri"
why?
For ASB Loan, every month u save your money, is for loan repayment. it is not gonna deposit into your ASB account. therefore, u cant withdraw the money when u need it. Imagine, when it comes to emergency or crisis, the whole sump of money u save is not there. U only need to wait until end of the financial year to collect the dividend.

thanks..i've received the call from bank that my loan has approved..
but the banker told me to transfer my current ASB saving to other account because 200k is the maximum amount for ASB..
not sure which one is right

i am not sure how much for the insurance, but if am not mistaken its based on your loan amount
i forgot bout it. need to refer back my previously signed ASB loan contract.
but the amount of the insurance is added onto your loan
let say u want to have ASB loan amounting of RM50k, then your total loan would be RM50K + insurance + interest.
eventually, your monthly repayment will include loan, interest and insurance as well.
only the PROCESSING FEE need to pay cash.

owh. sorry for forget to inform u guys earlier.
there is maximum limit for ASB account set by the government.
u may consider it as u have reached maximum quota for single bumiputra.
one single person only allowed to invest maximum of RM200k.
if u already have your own saving, you should not have more than RM200k in your same account.

in your case, i would advise u to withdraw your current ASB saving into fix deposit account.
for more benefit, transfer your current ASB saving into your family's account, keep it in your parent's account or brother/sister.
just dont forget to collect your dividend and avoid being mixed up with their saving

yup...i just knew that a few days ago..huhu

thanks for the advice boss..

How bout the requirements to qualify to take the loan?

Max for ASB is RM200K, should you have balance inside, can transfer to other type like Wawasan/Didik. Once trnasfer, you can apply 200K loan

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Added on December 12, 2012, 11:09 amASB loan is partly under purview of responsible financing, thus, total deduction of commitment cant exceed 70% of net income per MBB guideline

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Added on December 12, 2012, 11:16 amAs max per individual is RM200K, you have to transfer the saivngs to other fund before new certificate of RM200K can be issued.
on 2/1/13, dividend will appear on ASB passbook. Loan details will not be shown.

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Added on December 12, 2012, 11:17 amYes, at this moment, only MBB offer.

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Added on December 12, 2012, 11:26 amWell, the instalment of ASB is just the same as housing loan. You may download those apps for instalment calculation and i am sure most banks' computation is almost similiar.

Difference on own savings and asb loan :-

savings per mth : RM200 or RM2,400/yr, dividend : RM2,400 x 8% (example), net RM192.

asb loan : RM200 (instalment, RM35K for 25 yrs), dividend : RM35,000 x 8% = RM2,800 - RM2,400, net RM400

Difference : RM208/yr.

Both are equivalent, provided BLR & payout rate remain above 8%, instalment is prompt.

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Added on December 16, 2012, 2:21 pmmax repayment on all loan not more than 70% of net income..

This post has been edited by KH_Yulek: Dec 16 2012, 02:21 PM

Hello all sifus...

this is the first time I've taken a loan for asb.my noob question is, can I setel my hutang in large sum instead of monthly payment for 25 years?i mean settle my loan earlier than expected.say if I kena durian runtuh,can I do so?any penalty?or am i tied to that 25 years?

thank you.

Most bank impose lock in period. So long it expires you may settle the loan in full

Not exactly correct. Your limit is 200K invested amount. This does not include the dividends you have earned every year. So if you already have say 50K in your ASB account, you need to check with the ASB agent how much of that amount is the principle investment. You only need to take out this amount in order to 'reset' your ASB account to zero principle. The dividends gained over the years can still remain without affecting your total ASB loan.

In fact, the correct method would be for you to confirm the original principle investment amount and then adjust the loan amount to suit. Meaning that if you have already invested 20K in your ASB over the years, then you need to only take a 180K loan to max the account instead of 200K which just gives the bank more earnings.

For those who have maxed the account, you cant invest any more funds into the account. But your dividends will continue to accumulate yearly so the total amount in your ASB account can be >200K with no upper limit.

This post has been edited by cybermaster98: Jan 3 2013, 03:09 PM

So how much money do I need to pay upfront in order to make my ASB loan run on autopilot? Last time I didn't buy it when bankers persuade me to get loan for asb. But after I read thru this thread I know how this asb loan can be benifited for me.

This post has been edited by mutt: Jan 3 2013, 04:26 PM

thats correct
thanks for adding points.
i didnt put it as detail as it is and just answering his question in general