I'm 27 this year and has been thinking of getting the ASB loan.
Should I max out RM200k? Will this affect my chances of getting personal loan later?

I have 2 CC (OCBC Titanium Mastercard and Maybank Petronas Visa). A hire purchase loan for my car.
Never miss payment. Please advise.

How much do u plan to take?

just sign off asb loan from RHB yesterday. applied last week and approved few days later.

interest 6.6%, total asb 50k + insurance RM1069(total insurance for 25years) with loan period max to 25years. monthly need to pay rm300.
why so long? because i want take low monthly , rm300X12month=rm3600 i pay per year, let say i got dividen for 8% plus bonus so its around rm4000 per year.
so basically i paying rm3600 for 1st year, by next year, i will use dividen to pay the monthly loan and its gonna be free money.

Any reason why you signed up with RHB instead of Maybank?

Rm200k

if let say I wanna do early settlement, how much rebate I can get?

Getting an ASB loan will always be factored in by banks when getting a personal loan.

I believe in starting early, since this is also a win-win situation. I think you are working now and should have no problem passing through the criteria for ASB loan. I applied for rm200k ASB loan during my 2nd year in university and still lepas.

All the best.

hi

few question

let say i loan 200k.
asb currently have 10k.
need to withraw or can remain or adjust loan amount?

related to the above,
can i invest manually to asb and at the same time servicing my loan?

once take asb loan , will my loan eligibility - eg property will be effected?

once pnb announce payout, how do they pay if the asb already max - 200k? cheque? if yes when investor will receive it?

tq

hi guys, i'm new here..

i'm a 21 years old uni student, now on 2nd year in degree..
this year i gonna received foundation from Yayasan XX total rm6800 per year..
i'm thinking to invest it in ASB using that money..

can you suggest me which ASB should i invest in?
in term of type of loan (pinjaman ASB or simpanan sendiri), total loan, payment per month, total dividend & bonus..
fyi, maximum monthly payment that i can afford is rm500~ (coz i'm using my foundation money)

any advice for me? THANKS~

This post has been edited by efariz: Jan 6 2013, 09:09 PM

Let's say you want to take 200k for 20years, the monthly payment is around 1.2-1.3k..you just need to pay for first year and let the dividend cover your loan in next year

Thank you.. Yes, I am working. Have to start thinking of saving and investing money. Good fir you since you started earlier.

So, if let's say I took 200k for 25yrs, how much to pay monthly?
How much is the 1st yr didividends? Sorry, really am noob. When I have the time will go to several banks and consult.

U can get this from PNB & Maybank websites, yes?

2012 Dividend = 7.75%
Principal = 200,000
Annual Dividend = 15,500
Monthly Dividend = 1,291.67

Loan 25 years
Monthly loan repayment = 1,165

Monthly cash flow = 127

Thank me now.

the hardest part is to pay the monthly loan for first year. 2nd year you're on autopilot.

may i ask, after 1st year, for monthly loan, the bank just deducted from our account or we need to withdraw & bankin into ASB?

that means the upfront money I need to fork out is about RM15k to make my ASB run on autopilot. But let say if after 5 years, I have cash to settle the loan early, do I get early settlement rebate?

Anyway thanks

Thank u new[x].. I've decided. Maybe only RM100k loan.

Split it into two loans (50k + 50k).
That way, you could settle one loan once you have accumulate tons of moolah and decided to do so. ( Not necessary as long as ASB dividend is higher than loan interest).

Noob question.
Is the interest for ASB loan fixed?
I pay extra every month, just wondering if this will reduce the monthly interest...

hi,
interest is based on blr or bfr rate
most bank currently offer blr/bfr-1.3-1.6 p.a.
(6.6-1.6=4% p.a.)
if u pay extra it will only offset the next month installment
hope that help, thanks

Correct.
For early settlement I'm not sure, maybe you can check with your banker.

Thanks a bunch for all your reply. Someone from maybank has pmed me