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> ASB loan, worth to get it???

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MrFay
post Feb 10 2019, 11:34 AM

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When will the bank offers asb loan for asb2?

I have asbf for asb2 with maybank, and i would like to terminate the account and apply for a new one with cimb (35 years tenure)
ichako
post Feb 11 2019, 05:58 PM

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QUOTE(Qimra @ Feb 10 2019, 03:31 PM)
JANGAN BERTANGGUH LAGI!!!!

APPLY/MOHON
*ASB FINANCING* WITH ISLAMIC FINANCIAL INSTITUTION

*ATAU*

*REFINANCES/MEMBIAYAI SEMULA MONTHLY INSTALMENT DENGAN RENDAH 4.85%...*

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* BUMIPUTRA
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DOCUMENT YANG DIPERLUKAN
* IC (WAJIB)
* 3 BULAN SLIP GAJI
* 3 BULAN BANK STATEMENT

*50K - 200K INTEREST RATE 4.85%*

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Zul (Qim)
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Hi,

What's the difference between apply and refinance?

I mean, if I already have ASB loan with Bank X but I want to apply with Bank Y with the same amount but with lower interest rate, the step is still to apply a new one and cancel the existing one right?


voncrane
post Feb 11 2019, 07:10 PM

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QUOTE(ichako @ Feb 11 2019, 05:58 PM)
Hi,

What's the difference between apply and refinance?

I mean, if I already have ASB loan with Bank X but I want to apply with Bank Y with the same amount but with lower interest rate, the step is still to apply a new one and cancel the existing one right?
*
Yes.. Cancel then reapply or reapply then cancel.. Same principle... Use whichever will work for you best at the moment.. Ideally, try to get pre-approved for the loan amount first..
NikTaMere
post Feb 11 2019, 09:12 PM

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Anybody has made use of their children account if you have maxed your ASB1? Wondering if it’s better to deposit in your children ASB account rather than using ASB2 as it fives you higher dividens
ichako
post Feb 12 2019, 09:08 AM

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Anyway I've been wondering, ASB/ ASB2 has a max quota of 200k.
So if someone take up 200k asb loan, how do they keep the dividend compounding? Or they can't?


Edit: Or is it because the loan is invested as cert, so the quota is not reached until the dividend (cash) in the account reaches 200k? hmm.gif

This post has been edited by ichako: Feb 12 2019, 09:38 AM
Bora Prisoner
post Feb 12 2019, 09:56 AM

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it seems this thread has gone up to 200+ pages because a lot of people keep repeating questions when a little effort to do some research can help get their answers.

sulab
post Feb 12 2019, 10:14 AM

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QUOTE(ichako @ Feb 12 2019, 09:08 AM)
Anyway I've been wondering, ASB/ ASB2 has a max quota of 200k.
So if someone take up 200k asb loan, how do they keep the dividend compounding? Or they can't?
Edit: Or is it because the loan is invested as cert, so the quota is not reached until the dividend (cash) in the account reaches 200k?  hmm.gif
*
200k does not include dividend. so your fund can grow to more than 200k because of the dividend. 200k limit is the amount of money invested
shodan11
post Feb 12 2019, 12:32 PM

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QUOTE(Bora Prisoner @ Feb 12 2019, 09:56 AM)
it seems this thread has gone up to 200+ pages because a lot of people keep repeating questions when a little effort to do some research can help get their answers.
*
Just wait for the December-January frenzy. Same repeated topics on loan pros/cons and calculations.
junclj
post Feb 12 2019, 05:06 PM

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hi, I was just noticed that EPF was now allowing members to take out 30% from account 1 to invest the money into their ASB2. I am deciding to apply this offer later after EPF announced 2018 dividend.

Did anybody has tried this offer? I think put money into ASB2 is better than put in EPF because ASB2 did offer higher dividend rate.

This post has been edited by junclj: Feb 12 2019, 05:14 PM
junclj
post Feb 12 2019, 05:19 PM

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QUOTE(ichako @ Feb 12 2019, 09:08 AM)
Anyway I've been wondering, ASB/ ASB2 has a max quota of 200k.
So if someone take up 200k asb loan, how do they keep the dividend compounding? Or they can't?
Edit: Or is it because the loan is invested as cert, so the quota is not reached until the dividend (cash) in the account reaches 200k?  hmm.gif
*
it is separated, 200k is your base and dividend is compounded yearly. Assume that you have 200k in your account and you are now age 30, my estimation is RM1m total (base+compounded dividend) after the age of 55 if you able to keep your asb accounts untouched.

This post has been edited by junclj: Feb 12 2019, 06:27 PM
debonairs91
post Feb 12 2019, 05:53 PM

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QUOTE(junclj @ Feb 12 2019, 05:06 PM)
hi, I was just noticed that EPF was now allowing members to take out 30% from account 1 to invest the money into their ASB2. I am deciding to apply this offer later after EPF announced 2018 dividend.

Did anybody has tried this offer? I think put money into ASB2 is better than put in EPF because ASB2 did offer higher dividend rate.
*
Really can? Worth it just because of the liquidity
4Z7
post Feb 12 2019, 06:29 PM

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QUOTE(junclj @ Feb 12 2019, 05:06 PM)
hi, I was just noticed that EPF was now allowing members to take out 30% from account 1 to invest the money into their ASB2. I am deciding to apply this offer later after EPF announced 2018 dividend.

Did anybody has tried this offer? I think put money into ASB2 is better than put in EPF because ASB2 did offer higher dividend rate.
*
Not exactly 30%, you need to have a minimum amount in Account 1 depending on your age first and from there you can calculate how much you can actually invest. Can refer here

I did withdraw 30% of eligible amount few years ago to invest into Unit Trust

This post has been edited by 4Z7: Feb 12 2019, 06:30 PM
Bora Prisoner
post Feb 12 2019, 06:54 PM

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QUOTE(junclj @ Feb 12 2019, 05:06 PM)
hi, I was just noticed that EPF was now allowing members to take out 30% from account 1 to invest the money into their ASB2. I am deciding to apply this offer later after EPF announced 2018 dividend.

Did anybody has tried this offer? I think put money into ASB2 is better than put in EPF because ASB2 did offer higher dividend rate.
*
I didnt bother with this because taking 200k ASB2f is a better deal.

Bora Prisoner
post Feb 12 2019, 06:58 PM

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QUOTE(debonairs91 @ Feb 12 2019, 05:53 PM)
Really can? Worth it just because of the liquidity
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Liquidity? You have to return all money you withdrawn and any profit to EPF.


ichako
post Feb 14 2019, 09:36 AM

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QUOTE(debonairs91 @ Feb 12 2019, 05:53 PM)
Really can? Worth it just because of the liquidity
*
Yes, same like investing EPF Account 1 into unit trust. But all the money invested and the dividend will go back into your EPF account. Still can only be withdrawn once you retire.

In other words, it's good if you want to save for retirement. But if you want to use the money for something else, better take up asb loan or save ur available cash into ASB2.


This post has been edited by ichako: Feb 14 2019, 09:44 AM
shodan11
post Feb 14 2019, 11:07 AM

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Hi everyone..

So I did my ASBf cancellation from CIMB on 2/1/2019. Checked with them earlier this month..told should end on 13/2/2019. Today (14/2/2019) the loan amount still there as viewed from Clicks.

On leave today, so I will check again. If they come up with some BS excuse where do I complain? HQ, BNM, PNB?

For sure I will withdraw my saving account to a mininum so it wont autodeduct next month.
annas473
post Feb 14 2019, 10:41 PM

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QUOTE(NikTaMere @ Feb 11 2019, 09:12 PM)
Anybody has made use of their children account if you have maxed your ASB1? Wondering if it’s better to deposit in your children ASB account rather than using ASB2 as it fives you higher dividens
*
Can keep no problem. Check if can wd or not.
Bora Prisoner
post Feb 15 2019, 10:54 AM

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QUOTE(annas473 @ Feb 14 2019, 10:41 PM)
Can keep no problem. Check if can wd or not.
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i think below 12 cannot wd

12-18 - can only wd up to RM200/week

voncrane
post Feb 15 2019, 12:19 PM

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QUOTE(Bora Prisoner @ Feb 15 2019, 10:54 AM)
i think below 12 cannot wd

12-18 - can only wd up to RM200/week
*
Wait and compound for 12 years and can only withdraw max RM200 per week? Not good sweat.gif.. How about full account closure to withdraw? I mean, since it's cash and not loans.?? Probably impose some more restrictions after that.

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PrincZe
post Feb 19 2019, 12:40 PM

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QUOTE(Bora Prisoner @ Feb 12 2019, 06:54 PM)
I didnt bother with this because taking 200k ASB2f is a better deal.
*
But now more asb2f so I guess anything that can provide better profit works

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