1) RM19266 (dividend) + principal repayment = not sure the amount coz no time to calc for you but eventually will be more. So the difference will be significant

When you pay ANY loan installment, part of the amount goes to principal payment, if not how are you going to finish paying your loan?

Imagine ASB loan like a house loan. You took a house loan valued at 20k, at the end of the loan tenure, you get a house valued at 20k, right? Because part of your loan goes to paying the house (principal) value and the interest for the loan.

That's right... the ammortized value you'd get back is about 4k.

So eastwest, it's RM19266 (dividend) + RM4000 (principal repayment) = RM23266

Plus, you're compounding bigger for the 6th year

as long as the dividend is higher than bank rate, just take it lorh

Try to maxout as much as u can. Use the previous dividend to cover up for your new loan if suddenly u r having problem to pay for the installments. Try to hold the loan until the next dividend payout. Then you can decide either to continue or terminate your asb.

About takaful with asb loan its better for u to apply takaful with the 3rd party. U will get more benefit + cheaper. You can apply takaful to cover your loan.

And lastly dont be too analytic. If you think too much it wont give u a better result. Just do it. Like other say as long as the dividend given still relevant stay with asb. No more lock in period so u can exit anytime u want. Dont worry.

Go etika takaful, or any takaful out there...said u want to apply for takaful this much (same with your loan amount) they will calculate the premium for u and also the installments...usually u can paid one off for 1 year...i once help my client to calculate his takaful (etiqa) for 1 year his loan is 60k (takaful covered 50k) and only need to pay about RM65/year...yet he get many benefit...

You can ask takaful agent what are other benefits if u apply their takaful premium...different takaful have different benefit...Choose which one suit with you and worth your money. Usually apply with etiqa takaful...

Maybe more works but at least u get more benefit...

other suggestion, apply loan with 1 or 2 years takaful only. At least till u get your 1st dividend payout. Why? because if anything happen to you, your heir can still get the dividend and principal after the loan terminated. If u apply without insurance for the 1st year there is a risk if anything happen to u early and need to terminate less than 5 month your heir will get nothing. Or apply takaful with the same amount of year you target to terminate your loan. Example target to terminate in 5 years than u apply takaful for 5 years only. Hope this will help u to make the decision. 

nope it takes 3-4 weeks to disburse...

Loan facility will always count as commitment. But because its generating dividend every year, many banks count it as source of income. Therefore it can increase your DSR to apply loan moreover you already let it compound for years. Still when you apply for loan and not approve because of your ASB than terminate it and your commitment will gone + your ccris remain virgin 😁. Great right.

Nett income + dividend

Monthly for the income and the total dividend will be calculated in the form of monthly

As far as i know can but u need to tell the bank.

Every extra payment u make will carry forward to the next month

For example your loan 1100 and u pay 1300 the 200 will carry forward to the next month (only need to pay 900) It will not reduce your principal like housing loan.

Sorry u dun need to notify the bank. Asb loan use the same effective rate like housing loan but different terms.

If u r using rolling dividend technique than this is the use of advance payment. It means u can take out ur dividend to pay every month, 3 month, 6 month or 12 month.

Just want to update.

ASB application eligibility had been revised

Before DSR calculate based on this

Below 2000 = 90% dsr
Above 2000 = 95% dsr

new eligibility

Below 3k = 60% dsr
Above 3k = 85% dsr

This mean those with salary below than 3k will be harder to get full loan 200k after this. My advice if u r really interest to apply for ASB loan do it now. Can PM me directly for more info.

All submission need to be clear before 2 JUNE 2017. Thats mean those who are not clear till that date will follow the new requirement.

Actually if not mistaken other banks already use this dsr, now cimb follow them too...