I will go with maybank then

I have rm16k in my bank. Plan to put it on my asb. Better to put constnt every month or lump sum is better? Any different in interest or profit? Btw for asb loan, i will pay it everymonth also. Thats mean everymonth i gonna pay for asb loan n put saving on asb also.

P/s: im not so good in this kind of things

Better to put lump sum. ASB dividend calculation is based on average minimum balance u have each month. i.e:
if u dump in 16k in dec 2013 n maintain that value until end of dec 2014, the dividend calc is as per below:
min value each month = 16k
average monthly balance in a year period: 16k x 12 / 12 = 16k. if the dividend is 10% then the div u get is 10% out of 16k = 1.6k as dividend in 2014.
If lets say u put 1k a month, the calculation for average is (1k+2k+3k+4k+5k+6k+7k+8k+9k+10k+11k+12k ) / 12 = 6.5k. Dividend will be 10% from 6.5k = 0.65k.

One more thing...better to save on ur own compare to take asb loan if u think u can be very discipline. make a detail calculation n u will see why....can earn double if saving on own

why people make loan for asb? i have asb loan. but it is becoz my mom do it for me two years ago. let say I make 50k loan. Where the 50k go?

What do you mean where the 50k go??

when you made a asb loan. the bank will not put 50k cash in your account. Instead, they will create a cert that worth 50k

so PNB is aware of your loan even though it didn't reflect in your asb passbook balance

This post has been edited by MaGNiFiCo: Jan 14 2014, 04:37 PM

Because of compounding dividend, gain more dividend.
Let say monthly you deposit 300 in asb. 1 year will be 3600 & dividend around 150 < -- monthly basis dividend calculation.

If loan, with 300 monthly you can get 50k loan. 1 year can get 3800 dividend.
(dividend rate =7.7%)

Same answer as above my post.
In form of certificate, held by the bank.
The amount will no show it the asb book but you can check at PNB office for the amount.

people said, TH interest is higher, but TH cannot make bank loan right? no which one making more profit?

Im still thinking wanna take loan for ASB or not. As one of participating bank for ASB I can get staff loan of BLR-2%. Do u think it is worth it?

If take asb loan, choose the bank with the lowest interest rate. asb loan is a win-win situation. u win bank win. If bank offer lower interest, u win bigger

But the best winner is the one who installs monthly to asb without using loan..that's a double win

This post has been edited by luqe: Jan 14 2014, 05:52 PM

The reason is that i can save up to 1.8k per month and once I finished off my credit card payment the savings would be 2.6k. Is it worth it for me to take the loan or I should save myself 2.6k per month?

Nope. TH dividen is lower, asb higher...But, TH already deduct zakat simpanan while asb did not..zakat is 2.5%.
So, in the end they r about the same. if asb 7.5%, it's equal to TH 5.0%. if u use asb, zakat is only imposed if the money reach the amount wajib zakat, around 11k.

This post has been edited by luqe: Jan 14 2014, 06:09 PM

Depends on ur discipline and needs.
If u jenis yg no discipline, take asb loan...u hospitalized ka, kahwin ka, dapat anak ka, car broke down ka, petrol naik rege ka, mau beli rumah ka, u have to bayar to bank / terminate loan kalau xmampu bayar.

If u know cincai2 (after consider any unexpected event) u can save at least 1k a month, better don't sign for loan.
4 years ago i use loan coz wanna force to save. after 13 months i terminate to get money. That saved me during that day.
Now i know i got much spare so decide to not use asb. I did all the calculation in Excel and found out a very surprising fact:
Case scenario 1 : asb loan 100k term 10 yrs, monthy rm1059..
Total bayar ke bank: 1059*12*10 = rm127,080
Jumlah pendapatan (yearly div stays in asb, assume div 7%, include amount 100k): rm196,714
Untung bersih (money in asb after 10yrs - total pay to bank): rm69,634

Case scenario 2 : no loan, install rm1059 to asb monthly for 10 years..
Total bayar ke bank: rm0
Jumlah pendapatan (1059*12*10, consider all dividen assuming 7%, never withdraw $) : rm182,237
Untung bersih : rm182,237

Using Excel, correct me if wrong. U see? nearly triple profit compare to loan.

This post has been edited by luqe: Jan 14 2014, 06:48 PM

for scenario 2 i think u calculate it wrongly, it should be rm 135,975

If I wanna take loan also I will take 25 years. Plan to take 50k 1st as it is not a burden and all I need to pay is around RM281. If got salary increment then do another 50k loan. The total is RM562. I still got around RM2.1k savings for any emergency use.

My plan is not to take out any of the dividen and let it grow say about 10 years and terminate the loan.

But then it is still in planning stage as I need more input. Plus I wanna take the advantage of BLR - 2%.

Not like that...the calculation is not for single dividen of 7%. "all dividen" means dividen for 10 years. For both scenario, calc every yr dividen. thats why shud use excel n put calculation formula

wow, blr-2. i'm impressed. which bank is it?

if i were you, there's no doubt that asb loan is way better.

Read my post in my blog and you'll understand. it's an old blog though, but should be alright.

Can explain more bro?

Refer : Post #656

Staff loan bro..

i am also with one of the banks, but do not get any better than normal peeps.

damn u tiger haha