4.90 and some commission from the banker

Commission 200 and ‘some free gifts’ depends on which month. Coz i baru terminat mine with cimb no need cimb to settle my loan first. This months she said free huawei backpack but while stock last only. But i think i will sign the loan on end feb/early march with rhb since cimb said it takes 1 months to terminate my current cimb. So it depends on what free gift they have by then.

Most of the time is payung! Only this month got backpack

What kind of restriction? Lately there is a few amendment at some bank for loan qualification. Cimb also become a bit strict lately and the process will take too long. Haha

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

The before and after ASB2 dividend payout.... STOKED! Growing EXPONENTIALLY

The first of 3 PNB dividends payout for me... next ASB3 in September and then the big one ASB in December. I think I'll have to get a fund that pays out in June so I can get this feeling of 'high' all year long!

hopefully can reach 70k all in this year to bring me just under 1.1M. Can't believe that I was just celebrating a milestone in January of surpassing the 1M mark and I'm already talking about reaching 1.1M 3 months later...haha

Get started guys... As with compounding 101, the earlier you start the faster the growth!

Yes, in a way Life takaful/insurance certificates/policies can be used as an alternative to the MRTT/ARTT. As for the prices, you would need a quote. There are tons of agents out there who would be happy to serve you if you make a single post about it. Prices will depend on your age, employment-type, sum covered, items covered (riders), etc. 

1. Take note that the terms Assurance and Takaful are practically interchangeable (legally they are not), so when people talk about MRTT or MRTA, they are referring to the same things. The item that you really want to take note of is the R in MRTT/MRTA refers to "reducing", meaning the coverage is reducing over the tenure. I've talked about this in this thread as well as in the mortgage threads. I don't mind going over it again, but apparently I should just make a video and refer to it.


Figure 1. Shortfall of protection when shorter MRTA/MRTT tenure is taken compared to the loan tenure

2. MRTT, ASB-RTT (ARTT) are both life insurances too, they cover you as a person. But the problem is that:

a. if you buy it with the bank, it would be absolute-assigned to the bank, meaning the bank owns it, which leads to the problem in my post above

b. there is a "tenure" so to speak, so the protection you take would have been reduced over time. Who is to say that you won't be needing that protection going forward?

ASB3 funds is full? Tried to topup my ASB 3, but failed every time, the error said insufficient funds.

Assumption: 7% distribution rate every year

1. You got the right principle, but lets use the right terminology here: Your softcap has increased by 14k, your hardcap is still 200k

2. If you withdraw the RM14k distribution that you have just received, your softcap will continue to increase by next year. Why? Because you would still be receiving the distribution based on the RM200k capital that has been invested through financing. In this case, your softcap would increase by RM14k, making a total softcap of RM28k (RM14k + RM14k)

3. Now, if you had left the RM14k distribution alone, your next year's distribution would be RM214k x 7% = RM14,980; making a total a total softcap of RM28,980 (RM14k + RM14.980)

4. RM28,000 vs RM28,980 in the first year. Due to how compounding works, this difference will increase over the years. If possible, try not to withdraw any of the distributions

This is why it is very important to start your ASB-financing early. I have recently got clients born in the late 90s with 1999 being the youngest. She applied using her dad's income (she has no income) and will continue the payments once she has started working. This is beneficial as it helps her:

a. start her investments early and accumulate her wealth
b. increase her ASB softcap starting from the age of 20

I wonder when will I get a client aged 18.

after getting the ASB financing, will it difficult to apply any other loans?

Maybank wife got 4.85 200k
I did 80k oso 4.85

This is just last month. Takaful took min 5 years.

Hi guys,

Need some advise on asb loan. Let say i already have 50k asb loan, and my own money of 10k inside my asb, so the max value for my next asb loan is only 140k?. If i taken out the 10k, then the max value i can borrow is 150k?. Need some opinion also the asb scheme that people use to buy car. I am planning to take asb loan, and use the dividend i get for my car payment (next 2 years), and i will.pay the asb loan monthly (only). Is this a wise move?.

Thanks

Just got a letter from tiger bank. My monthly repayments reduced by RM40.00.

Hey guys, once more if i may ask is it true that ASB 1 Loan quota will be finished? Because right now i don't have money at the moment but I want to do the Loan..and i'm actually a student so im pretty scared if they do like this.