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 ASB loan, worth to get it???

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wild_card_my
post Mar 7 2020, 02:24 PM

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QUOTE(debonairs91 @ Mar 7 2020, 01:44 PM)
I took 300k asbf before not worth it at all. I pay around 16k in instalment and only get back 15k dividend last year...
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This is the best example of someone who doesn't understand the difference between installment vs interest payable. But he is also a known troll, so either he's really daft or he's pretending not to get it, as per a good number of people from his "group"

Here's an explanation on the installment

QUOTE(wild_card_my @ Mar 2 2020, 05:50 PM)
annual installments, not annual fee. This is the problem with investors nowadays; you have to understand what an installment is made of: loan repayment + interest. When you think of these installments as "fees" and see that the "fees" can be paid back through dividend, you think that it is not a viable installments

Even properties' rental returns cannot cover the monthly installments. Does that mean you should not invest in properties? Set your compass right and you won't be misled.
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wild_card_my
post Mar 7 2020, 02:31 PM

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QUOTE(fath82 @ Mar 7 2020, 02:26 PM)
Oh now understand thanks for the info, u must be so dedicated to not touch the divident and let it compounded.
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it is not a difficult thing to do, i dont mean to scoff at his efforts though.

Consider it as a savings. You need to save your money every now and then anyway, and to allow maximum returns you would need to allow the distribution to grow. This is why I scoff at efforts of some consultants to talk about "strategies". The best strategies would be to simply get the financing and let the principal to compound itself over time. No need to do hybrid this and that lah.

QUOTE(fath82 @ Mar 7 2020, 02:27 PM)
Thanks for the tip.
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my pleasure.
wild_card_my
post Mar 9 2020, 07:49 AM

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QUOTE(debonairs91 @ Mar 9 2020, 06:44 AM)
If 300k then how much dividend?
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No one answers this. He's still trying to figure this out to troll again. He's been called out, he will return with this newfound information
wild_card_my
post Mar 9 2020, 11:11 AM

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QUOTE(buggie @ Mar 9 2020, 11:02 AM)
He's been bashing this loan for more than a year now. And yet he took another 100k loan last year on top of the full 200k loan? (if its true la)

So guys, in a nutshell...It just shows you that even a non-believer of the loan applies for this loan after bashing it mind you....cause it is too good to pass up. The power of ASBf!  rclxm9.gif  rclxms.gif
It's ok... caught red-handed or not, He just proved my point.
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I notice a group of people who should understand how mortgages and real estate to work, feign ignorance on ASBF despite both being very similar in nature - term loan with reducing balance interest calculation, with asset used as collateral that would generate returns

They buy properties by the dozens, but "doesn't understand" and would spread mistruths about ASBF and refuse to take the discussions seriously. I wonder why whistling.gif
wild_card_my
post Mar 12 2020, 05:17 PM

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spread? why should you be concerned about spread? effective rate is more important
wild_card_my
post Mar 13 2020, 08:05 AM

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QUOTE(*MoonStone* @ Mar 13 2020, 07:50 AM)
Is any bank offer asb2 financing now?
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None. The problem isnt the banks not offering them. ASNB is simply not extending any certificates to the banks for financing. You can hardly get any units even when buying with cash for now
wild_card_my
post Mar 16 2020, 08:52 AM

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HLBB customers should be getting this today. Most of my clients got the notification

RM0.00 HLISB: Your new instalment for fin. acct ending xxx is RM******965.00 wef 1 APR 2020 . A letter will reach you in next few days.
wild_card_my
post Mar 16 2020, 09:45 AM

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QUOTE(PrincZe @ Mar 16 2020, 09:44 AM)
what this mean? reduced? per month for 200k im paying rm1056 if not wrong.
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Yes, their installments got reduced due to the reduction in their interest rates. Yours is on HLBB too right? You are my client too right? Did you get the SMS?

wild_card_my
post Mar 16 2020, 09:50 AM

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QUOTE(PrincZe @ Mar 16 2020, 09:47 AM)
yes yes no. have yet to get maybe  hmm.gif

well save extra rm100 per month then  hmm.gif  hmm.gif
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Yes, if not sure can contact HLISB CS too. I am just passing on what my HLISB-ASBF customers are getting this morning.
wild_card_my
post Mar 16 2020, 10:23 AM

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QUOTE(epie @ Mar 16 2020, 10:17 AM)
what is the best rate now?
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RM101k and above, 4.40%, no takaful required, up to 40 years
wild_card_my
post Mar 16 2020, 10:52 AM

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QUOTE(barneysteinsson @ Mar 16 2020, 10:28 AM)
Checked my loan account with affin

100K loan current interest rate is 4.25  hmm.gif
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Due to the reduction of OPR and thus reduction of BR by Affin, it is normal for your financing rates to be lower than those for new applications.
wild_card_my
post Mar 17 2020, 02:27 PM

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QUOTE(moosset @ Mar 17 2020, 02:22 PM)
as long as the government is alive, they could always print money even if they didn't have sufficient asset / liquidity.

the dire consequences however, .....  sad.gif
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At my (sales) and your (consumer and small fish) levels there is little point in worrying the country's fiscal state to the point that it is detriment to your own financial well-being

We can be aware, we can discuss it, but we can't do anything to change the policies. We can make the investment decissions based on what we know though

This post has been edited by wild_card_my: Mar 17 2020, 02:29 PM
wild_card_my
post Mar 19 2020, 05:37 PM

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Thanks for sharing mate. I have a few calls to make.
wild_card_my
post Mar 19 2020, 06:53 PM

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BSN - http://www.astroawani.com/berita-bisnes/co...pinjaman-234206

MBB - http://www.astroawani.com/berita-bisnes/ma...covid-19-233978

Tekun, Bank Rakyat, SME - https://www.bharian.com.my/bisnes/lain-lain...tangguh-bayaran


wild_card_my
post Mar 23 2020, 03:34 PM

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QUOTE(tr3xsdcc @ Mar 23 2020, 03:03 PM)
Hi Saalam/ greetings all. Hope u all doing well.

If we apply moratorium extension, is it apply to the bank or pnb.
Pls explain I'm not sure whether need to apply it or not.
If we apply meaning the Sijil at pnb will cancel for 6 months ? Making it no investment 200k at pnb? So we loose 6 months interest? Or does the bank extend the payment and tenure for 6 months?

Nway pls stay safe everyone. God bless♥️
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Alaikumussalam wbt

As I was made to understand, the moratorium is on the loan repayment, not on the investment certificate. Which means it is "beneficial" to you in that you are exempted from paying the installments for the time being. Your interests will simply pile up but at least you get to live. Once this is over I expect that they will ask you to pay extra on top of your installments each month to cover the interests that has been piling up.

I am quite sure however, that your certificate with PNB remains in tact and you would be earnin the distribution on 2nd January 2021, whatever it is.
wild_card_my
post Mar 23 2020, 04:05 PM

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QUOTE(tr3xsdcc @ Mar 23 2020, 03:55 PM)
Tq bro u always reply on time😊

Bro, meaning if we apply the moratorium the principal is same as before got reduction ?

So bottom line is, is beneficial lah if we apply since the bank institution NVR disturb our investment fund and distribution at pnb ryte? So NVR rugi ryte ? What u think bro good to take this opportunity ke?
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Yes, if you do not pay your installment, how would your loan principal (or loan balance) be reduced? In fact, as how I was made to understand your bank will continue to charge interests on the loan balance (reducing balance interest calculation, the interest is calculated based on your loan balance), of which you will likely have to pay after this is over - the only difference between the banks would be how would they calculate your repayment of the interests?

I doubt they would ask you to pay them all in lump-sum, it would probably be amortized over your remaining tenure and you would have to pay more in terms of your installment. This is something no one yet knows how the bank go about.

In general, yes I would say to get the moratorium if you qualify for it. You do not know what will happen in the next few months, if you can afford to set money aside, do so, perhaps buy the discounted counters (equities)... keep in mind, this is all unprecedented. I can only help in terms of the technicals, but in terms of managing your portfolio? Well none of you are paying me to do that are you?

Wait, yes, some of you are based on my other consultancy activities. Hahaha
wild_card_my
post Mar 23 2020, 05:25 PM

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QUOTE(tr3xsdcc @ Mar 23 2020, 05:06 PM)
Bro question just to ask if under moratorium 6 months, crris n Ctos will reflect ke as default payment? If yes then how future loan application pulak...hmmm
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When I asked some officers they said it would be "forgiven" and it would not be shown as late payment. Banks have to update BNM on their customers' repayment records, with the moratorium it should arranged right. But please ask the officer you are applying this from.

In the worst case scenario, even if you CCRIS is affected and you want to apply for a new loan in the future you can:

1. make a full settlement of the ASBF anytime as your loan balance should be lower than your ASB certificate value
2. use the moratorium document as proof of your "delinquency"
3. just pay your installments on time for a year, the 6 months non-payment (if any) will be rolled over
wild_card_my
post Mar 23 2020, 11:28 PM

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QUOTE(tr3xsdcc @ Mar 23 2020, 11:23 PM)
I would like to request for the following Disaster Relief Program/Saya ingin memohon Program Bantuan Akibat Bencana Alam di bawah * :
Payment moratorium up to a maximum of 6 months / Program bayaran ansuran moratorium sehingga 6 bulan maksimum
Waiver of late charges/penalty fees/miscellaneous charges / Pengecualian bayaran lewat/penalti/caj
Restructuring & Rescheduling request / Penjadualan & Pengstrukturan Semula
Others, i.e. KIV legal / foreclosure / repossession/ Penangguhan tindakan undang-undang / halang tebus/penarikan balik kenderaan

If you chose "Others" above, please elaborate here/Jika anda pilih "Lain-lain" diatas, sila huraikan disini* :
My preferred Moratorium Options After Expiry/Pilihan selepas Tamat Tempoh Program Moratorium * :
Keep loan tenure by increasing instalment after moratorium period / Menambah amaun ansuran selepas program moratorium
Maintain existing instalment by increasing loan tenure after moratorium period / Mengekalkan amaun ansuran semasa dengan melalui penambahan tempoh pinjaman
Maintain existing instalment and loan tenure, to settle differential sum at final instalment / Mengekalkan amaun ansuran dan tempoh pinjaman. Baki berlebihan akan dijelaskan pada bulan ansuran terakhir
Others, please state / lain –lain, sila huraikan

Hi/Saalam guys just sharing moratorium plans from alliance bank. Should be similar for others bank too☝️☝️☝️
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I would go for this one, it is the best option.

"Maintain existing instalment and loan tenure, to settle differential sum at final instalment / Mengekalkan amaun ansuran dan tempoh pinjaman. Baki berlebihan akan dijelaskan pada bulan ansuran terakhir"
wild_card_my
post Mar 24 2020, 12:53 PM

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QUOTE(ahrapture @ Mar 24 2020, 08:53 AM)
I have just applied for moratorium but yet to received any replies from banks. I wont be able to pay both car and home loans by the end of this month since I am self employed and tourism took a big hit since February. What should I do if the bank don't reply or reject? Damn :'(
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Just cancel the asbf. It is not essential, at least not for now. With ASBF you can always cancel anytime because your loan balance will always be lower than the certificate size
wild_card_my
post Mar 24 2020, 09:05 PM

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https://www.thestar.com.my/business/busines...-for-six-months

Its out guys. Automatic moratorium but the banks will have their say on how to implement it, but they have to be clear about it
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