yup .. PNB is processing .. just get an update from my sale person .. .

thanks bro ..

admafham_aziz

This post has been edited by Seng_Kiat: Jun 24 2013, 03:54 PM

Please consult your loan officer. Also check back your loan agreement on locking period, exit fee...

Make sure you understand the agreement before terminate the loan.

yes..when it comes to loan termination one must be very careful. do check with the bank on the outstanding balance. or alternatively check in m2u under loan outstanding balance. or get a financial calculator from playstore n calculate urself.

generally if u hv been serving the loan for a period of 24 months with no blr hike, then there are some money to be made through principal payment if u terminate the loan.
but for me the most important part is to get ur insurance refunded. this will form the bulk of ur roi.

but if during tht 24 months period there was a blr hike than the calculation will go haywire unless u request to pay the new installment. otherwise u will get a lesser amount from the one u calculated with amortize calculator.

if yours is under mybnk islamic then there will be no lock in period, penalty watsoever if u terminate. mine was under maybnk islamic but with lock in period(the earlier version has a clause for penalty) but when i teminated within the lock in period i was not subjected to any penalty i was informed by the officer the the new ruling of no lock in period work retrospectively..so yeah no penalty.

double post

This post has been edited by masami: Jun 24 2013, 05:11 PM

anyone knows how much do i have to pay monthly if i take maybank inclusive insurance
(i heard from bank officer hv to add 10~15 ringgit permonth)
2 x 50K total 100K loan
and how much do i have to pay inclusive exit fees (if any) to settle 50k for next 6 years

This post has been edited by rosihan: Jun 25 2013, 11:27 PM

I've been reading through this forum but i still can't brain how/why it is better to not serve the full loan i.e. terminating at 3rd or n-th year. Did some calculations myself but could not grasp the concept as from my calculation the longer you save, the higher the net return.

Anyone can point me to a post that details out the calculation? Or provide a simple calculation?

Thanks.

the question is, where you gonna get CASH to put it in FD?

RM200K, COLD HARD CASH

This post has been edited by ah_suknat: Jun 26 2013, 08:55 PM

Thanks to you guys, my friend got the 200k loan..
He is planning to service consistent every year until it reaches RM300-400k. From there he can constant re-draw about 25-27k each year, RM15k to cover ASB year & rest cover house loan. He told me is hard but later years senang.

So, paying without taking out the dividends first?
How many years have to do so?

20 Tahun atau sehingga Umur 60 tahun, (yang mana lebih Awal)

Sorry 2x Post...

This post has been edited by fly126: Jun 27 2013, 11:13 PM

Accumulated by year-9 almost can reach 400k, but at the time you already fork out own money for almost 130k.

Ok, thanks for the replies
I'm now saving rm1500 monthly.

Calculated using the ASB calculator, with the dividends rate set at 7.75%, if consistently deposit rm1500 monthly for 10yrs,
without taking out a cent of the dividends, will get rm232k.

I am so envious....

This is not the asb loan scheme.. Saving own money.
But yes, takes longer to achieve higher dividends payout, but the money is mine. Not held by the bank.

i follow

but just beginner lor..sob sob

my saving http://brunialamira.blogspot.com/

Good luck and all the best, its not easy to save rm1500 every month consistently for 10 years, soon you will have family, kids, parents getting older, things gets more expensive, more commitment, hospitalize and medical bills etc etc... Dicipline and financial planning is the key...

Good for you, I look at your post/blog sometimes

Thank you, I hope I can save regularly. For future uses.
I'm aware of the increasing expenses as I grow older. Currently tutoring students and this is the money I saved into my asb.
I do hope I'm healthy enough to keep on tutoring students after school.

*cont. here for more appropriate place to discuss regarding loan;

Hi,

Thanks for the respond. May I know if you also planning (or already applied) the same loan as I been discussing about on the another thread?

Yes, CONSISTENCY is the key.

Without loan, do we have option to auto deduct from our account, OR, we have to manually bank in to the account?