Hi,

Just to update on Ambank ASB/ASB2 financing rate -

Following the recent 0.25% increase in base rate, our current promo rate has increased from 4.75% to 5%. Requirement is still the same whereby it is only applicable to 100k and above. Also there is no lock-in period and takaful is optional. In addition, I will personally offer additional rebate and stamp duty waiver.

Should you have any enquiries regarding the above, do feel free to drop me a PM.

Thanks!

Do I need to bring any document, to cancel the loan?

Hi guys, I will be personally offering the additional rebate until 15th March so do drop me a PM if interested

Hi guys, I have an ASB loan worth 202,177 (199000 for ASB and 3177 for takaful) over 30 years. Monthly repayment is 1060.75. Interest rate was 4.8% (now 5.05% from my CIMB click). I added 1k to make it 200k in my ASB account.

I'm trying to work out if it's worth it if I pay the loan over 30 years compared to saving on my own without touching the money for 30 years.

Basically I got:

Final ASB account balance = RM 200,000*(1.07^29) = RM  RM 1,422,851.41
Total monthly payment = RM 1,060.75*12*30 =  RM 381,870.00
Loan nett gain = RM  RM 1,422,851.41 - RM 381,870.00 =  RM1,040,981.41

Now, if I save on my own for 30 years, I got RM1,202,391.35.

Basically I calculated like this:

First year: RM1,060.75*12 =  RM12,729.00
Second year: RM12,729.00*1.07 + RM12,729.00 =  RM26,349.03
Third year: RM26,349.03*1.07 + RM12,729.00 =  RM40,922.46
.
.
.
30th year:  RM1,111,833.97 + RM12,729.00 =  RM1,202,391.35

With this calculation, it seems like I'm going to lose around 160k by taking the loan instead of saving on my own:

Loan nett gain - Saving gain = RM1,040,981.41 - RM1,202,391.35 = -RM161,409.94

Is something wrong with my calculation, or am I using the wrong strategy?

Really? the banker told me about 1 month plus...if really 3 months

But bank will still return the principal amount that we paid after the termination, right?

Dealt with Ronald K. for terminating my previous loan andd re-applied with him. Really helpful and informative if you need any helps. Really recommended.

hi..pm me the details

Hi guys. I considering to terminate my asb loan with maybank. close to 1 year. This April will be 1 year.

So I want to ask how much should i pay for the penalty or exit fees. Here is the details of my loan.

Outstanding balance: -RM101,439.35
Outstanding Cost of Finance: RM100,971.10

Any sifu can help me here. Tq.

Can we still apply for ASB2 loan? Or they have completely closed the ASB2?

Hey guys!

Just an update to Ambank latest ASB financing promo effective 1st April:-

5% is now applicable to 70k and above (previously rate applies to 100k and above only).

Also same as before, there is no lock-in period and takaful is optional. In addition I will personally offer rebates which include a stamp duty waiver!

If interested, feel free to drop me a PM to know more about the offer.

Thanks!

What's the difference takaful and without?

I mean benefits with and without.. If say one suddenly pass away without having takaful in asb won't burden family members right?

Thanks man,  btw do u recommend takaful to ur clients or most doesn't take them?

Anyone is serving ASB loan with Ambank? Is it true Ambank does not provide any offer letter to sign for the loan once approved?

I'm asking this because recently my ASB loan with Ambank has been approved and installment has started without me signing any offer letter. It seems like I need to serve the loan without any agreement signed. The only confimation is from sms I received stating loan amount, installment amount and 1st payment due date.

Guys, can I know any special package offered by Ambank recently?

No problem in commiting the installment and i applied 25 years loan.

Just that i felt a liitle bit demotivated as currently market is having lower rate than mine.