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 ASB loan, worth to get it???

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yom@m@
post Jun 18 2019, 09:32 AM

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QUOTE(wild_card_my @ Jun 12 2019, 10:56 AM)
May I suggest maximizing your ASB1 with a financing, and switch the cash-funds to ASB2? Reason being that historically ASB1 has been giving higher returns (in the form of distributions) than ASB2.
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QUOTE(voncrane @ Jun 14 2019, 08:53 PM)
Kudos on diligently saving own cash.. IMO, since there's no ASBF presently for ASB2. Take advantage of lower interest rate for ASB1 loan. Sign up for max 200k.. Little to no Takaful (this part up to you la) and the transfer your cash savings to ASB2 instead.. You earn from both. I wouldn't roll the dividend, cuz frankly it can't cover it... Yet. Just keep paying out of own pocket and worst case, when need emergency money, can go withdraw some own money from ASB2. Use to settle things and or pay for the ASB1 monthly Installment. Can replace later if units available.

Also.. What Wild Card posted.
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I see. Makes sense to maximise my ASB1 with loan. Thank you both for your inputs. notworthy.gif
baldi91
post Jun 25 2019, 06:06 PM

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Seems like ASB3 distribution is below 6 sen. Wonder how low ASB 1 and 2 would be. Don't think it'll reach 7 sen this time.
Hikari0307
post Jun 25 2019, 08:30 PM

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Just got a letter from Maybank to inform me about the reduced profit rate and they are revising my monthly installment from RM550 to RM499 per month effective July~~~

This post has been edited by Hikari0307: Jun 25 2019, 08:30 PM
buggie
post Jun 25 2019, 08:43 PM

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QUOTE(baldi91 @ Jun 25 2019, 06:06 PM)
Seems like ASB3 distribution is below 6 sen. Wonder how low ASB 1 and 2 would be. Don't think it'll reach 7 sen this time.
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announced? how much?
neodude
post Jun 25 2019, 09:12 PM

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QUOTE(buggie @ Jun 25 2019, 08:43 PM)
announced? how much?
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4.85 + 0.40 bonus .. total 5.25

epie
post Jun 26 2019, 02:03 PM

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QUOTE(neodude @ Jun 25 2019, 09:12 PM)
4.85 + 0.40 bonus .. total 5.25
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How do u know
Still not announce yet
wantrepreneur
post Jun 26 2019, 02:06 PM

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QUOTE(neodude @ Jun 25 2019, 09:12 PM)
4.85 + 0.40 bonus .. total 5.25
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is this insider information?
neodude
post Jun 26 2019, 02:18 PM

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not insider information. the rate i posted above is the one in the press conference for asb3.
PrincZe
post Jun 26 2019, 02:37 PM

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guys, this topic is for asb loan. for asnb discussion please use the other thread
wild_card_my
post Jun 26 2019, 02:53 PM

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QUOTE(PrincZe @ Jun 26 2019, 02:37 PM)
guys, this topic is for asb loan. for asnb discussion please use the other thread
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I agree. Given that it is currently inpossible to finance ASB3 anyway, that discussion is a little off topic.
PrincZe
post Jun 26 2019, 03:29 PM

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QUOTE(wild_card_my @ Jun 26 2019, 02:53 PM)
I agree. Given that it is currently inpossible to finance ASB3 anyway, that discussion is a little off topic.
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we need asb2 loan. please find out when is it open again bruce.gif
wild_card_my
post Jun 26 2019, 03:49 PM

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QUOTE(PrincZe @ Jun 26 2019, 03:29 PM)
we need asb2 loan. please find out when is it open again  bruce.gif
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Yeah, I understand. As it is it is opened sporadically, only when there is an opening from someone selling would you be able to join. But it depends a lot on luck. Im waiting patiently for it top be "open-season" too. Glad to have helped some of the people here
Lonetraveler
post Jun 28 2019, 01:28 AM

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QUOTE(wild_card_my @ Jun 26 2019, 03:49 PM)
Yeah, I understand. As it is it is opened sporadically, only when there is an opening from someone selling would you be able to join. But it depends a lot on luck. Im waiting patiently for it top be "open-season" too. Glad to have helped some of the people here
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Hi,
I have never invested in ASB 2 and ASB 3. Is the fund already sold out and very difficult to get in? I am currently live and working in europe thus has the ability to get relatively low interest personal loan of RM400K value at interest around 3-4%. Do you think I should apply the loan and invest in ASB 2 and ASB 3 too?
wild_card_my
post Jun 28 2019, 08:39 AM

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QUOTE(Lonetraveler @ Jun 28 2019, 01:28 AM)
Hi,
I have never invested in ASB 2 and ASB 3. Is the fund already sold out and very difficult to get in? I am currently live and working in europe thus has the ability to get relatively low interest personal loan of RM400K value at interest around 3-4%. Do you think I should apply the loan and invest in ASB 2 and ASB 3 too?
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This 3-4% interest is based on annual interest rate and NOT simple interest rate correct? I just need to clear that up because typically in Malaysia the PL rates are calculated based on simple interest rate calculation, so the comparison to the 4.75% p.a. ASB-financing is not valid unless you convert the simple interest to annual interest and compare them.

For example, at 4.4% simple interest rate for 10 years, the annual interest rate is 7.11%

2. Another issue is the tenure, typical ASB-financing tenure starts at 30 years to as long as 35 years; how long is the tenure for this PL that you can get?

3. As for ASB2 and ASB3, my recommendation to all is to avoid doing any transaction at the banks. Just go to the branches and/or through MyASNB if you would like to make a deposit. I just checked on MyASNB and found that ASB2 is still available for further investments


Lonetraveler
post Jun 28 2019, 12:01 PM

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QUOTE(wild_card_my @ Jun 28 2019, 08:39 AM)
This 3-4% interest is based on annual interest rate and NOT simple interest rate correct? I just need to clear that up because typically in Malaysia the PL rates are calculated based on simple interest rate calculation, so the comparison to the 4.75% p.a. ASB-financing is not valid unless you convert the simple interest to annual interest and compare them.

For example, at 4.4% simple interest rate for 10 years, the annual interest rate is 7.11%

2. Another issue is the tenure, typical ASB-financing tenure starts at 30 years to as long as 35 years; how long is the tenure for this PL that you can get?

3. As for ASB2 and ASB3, my recommendation to all is to avoid doing any transaction at the banks. Just go to the branches and/or through MyASNB if you would like to make a deposit. I just checked on MyASNB and found that ASB2 is still available for further investments
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1. yes it is an annual interest rate. the lowest interest at certain bank is at 2.95% annual interest rate.
2. the tenure is shorter. the max year is around 15 years. but with the 15 years tenure, i can still afford the monthly repayment without problem
3. i am now putting part of my monthly salary into ASB 1. As I had never work in Malaysia before, I have no possibility to get any ASB 1 loan (not even a credit card)
4. Do you think that if my interest rate is low enough and to get into this loan to ASB investment, should i dump all my money into ASB 2 first followed by ASB 1? seems it is more scarce and difficult to get into ASB 2
neodude
post Jun 28 2019, 01:16 PM

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QUOTE(wild_card_my @ Jun 12 2019, 10:56 AM)
May I suggest maximizing your ASB1 with a financing, and switch the cash-funds to ASB2? Reason being that historically ASB1 has been giving higher returns (in the form of distributions) than ASB2.
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QUOTE(Lonetraveler @ Jun 28 2019, 12:01 PM)
1. yes it is an annual interest rate. the lowest interest at certain bank is at 2.95% annual interest rate.
2. the tenure is shorter. the max year is around 15 years. but with the 15 years tenure, i can still afford the monthly repayment without problem
3. i am now putting part of my monthly salary into ASB 1. As I had never work in Malaysia before, I have no possibility to get any ASB 1 loan (not even a credit card)
4. Do you think that if my interest rate is low enough and to get into this loan to ASB investment, should i dump all my money into ASB 2 first followed by ASB 1? seems it is more scarce and difficult to get into ASB 2
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i quote the earlier saying that historically asb1 giving better distribution.

if you can get to the ASB2 Financing, than you may do so if you want. its is a good choice too, just maybe a different way and different cost-opportunity lost

SUSBora Prisoner
post Jun 28 2019, 02:07 PM

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QUOTE(Lonetraveler @ Jun 28 2019, 12:01 PM)
1. yes it is an annual interest rate. the lowest interest at certain bank is at 2.95% annual interest rate.
2. the tenure is shorter. the max year is around 15 years. but with the 15 years tenure, i can still afford the monthly repayment without problem
3. i am now putting part of my monthly salary into ASB 1. As I had never work in Malaysia before, I have no possibility to get any ASB 1 loan (not even a credit card)
4. Do you think that if my interest rate is low enough and to get into this loan to ASB investment, should i dump all my money into ASB 2 first followed by ASB 1? seems it is more scarce and difficult to get into ASB 2
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How nice 2.95% annual interest rate! Hope you are really certain about this.

If so, then easy decision. Take the 400k loan, dump 200k into asb1, dump 200k into asb2.

Then your other cash dump into asb3.

Enjoy!

lotter92
post Jun 28 2019, 02:25 PM

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*deleted* Apologized for my mistake for not following the thread discussion properly

This post has been edited by lotter92: Jun 28 2019, 02:26 PM
wild_card_my
post Jun 28 2019, 02:43 PM

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QUOTE(Lonetraveler @ Jun 28 2019, 12:01 PM)
1. yes it is an annual interest rate. the lowest interest at certain bank is at 2.95% annual interest rate.
2. the tenure is shorter. the max year is around 15 years. but with the 15 years tenure, i can still afford the monthly repayment without problem
3. i am now putting part of my monthly salary into ASB 1. As I had never work in Malaysia before, I have no possibility to get any ASB 1 loan (not even a credit card)
4. Do you think that if my interest rate is low enough and to get into this loan to ASB investment, should i dump all my money into ASB 2 first followed by ASB 1? seems it is more scarce and difficult to get into ASB 2
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1. noted, at 2.95% that is quite low. Europe eh, I understand that their economy is on a flat line, it makes sense the loan rates reflect that as well.

1b. Do consider the rules about moving such a huge capital across borders, I know nothing about this although some of my clients back in the days did open Foreign Savings Account with my bank; this is different, this is moving capital across borders for investment in a different country. Consider AMLA issues as well. The rest is beyond me, I cannot advice on the legal repercussions.

2. 15 years at 3% or so is a good deal. Even personal loans in Malaysia are capped at 10 years, at about 6% p.a. (not simple interests as advertised in the country)

3. It is not impossible to open ASB financing even if you have not worked in Malaysia - it has no bearing to your application. You probably have heard wrong. I have helped financing for numerous Malaysians working overseas - Qatar, France, Australia, China, you name it. All you need is the proof that you are a Malaysian - with your NRIC

4.ASB1 is easier to secure with the 35-year long tenure. My strategy would be to get ASBF for ASB1, and use the PL strategy for ASB2 and ASB3 (the former quite difficult to get at this time, the latter impossible to get financing at this time)



wild_card_my
post Jun 30 2019, 05:05 PM

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QUOTE(apexlegend @ Jun 30 2019, 05:01 PM)
if my investment  reach max rm200k can i add another through asb2 for example?
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Of course you could.

You could do it as cash investment or even through financing. But financing of ASB2 is hard to come by, you can only do it if the timing is right - the banker tries to disburse the money after the quota opens itself after someone cancelled their units.

By the way, due to the softcap having being increased over the years as you earn your distributions (often mistaken as "dividend"), it is also likely that you could invest more as cash in ASB1 account itself.

Just look for the "baki boleh beli" in your ASNB online account.


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