If what u said is true than bank will deduct the accrued interest first until everything is paid off. Unless you have money to pay all the accrued interest in 1 shot.

Yes i do know the difference between outstanding balance and outstanding principal.

This post has been edited by haziqnet: Sep 3 2020, 03:29 PM

if u have money than better pay one shot. But if u dun have than just pay normally.

Unless your current asbf is lower than 3.55% than yes 3.55% is the lowest rate in town now.

So basically this is what i understand. Im correcting my previous comment before.

By taking moratorium your asb loan interest will be accrued.

Thats mean after moratorium all your installment will deduct the accrued interest first. Your current outstanding principal will be remain. Only after the accrued interest have been paid off than your installment will deduct normally again.

Please correct me if im wrong again.

This post has been edited by haziqnet: Sep 3 2020, 06:27 PM

Logically you will get less cashback from principal but dun forget to add the installment u not pay during moratorium into your calculation. Plus minus u still end with profit. My advice better terminate after you already paidoff your accrued interest.

This only base on my point of view. The exact calculation we need to wait till we start paying installment again. Need to look at the outstanding principal and outstanding balance how the bank make deduction.

This post has been edited by haziqnet: Sep 3 2020, 07:33 PM

This is from what i understand base on previous comments Just wait n see on 1st oct. Later compare your principal outstanding from the previous month either remain or reduce.

This post has been edited by haziqnet: Sep 3 2020, 07:59 PM

Its not only bumiputera who can apply. Ethnic from sabah n sarawak can open asb account and apply asbf. You can check here https://www.asnb.com.my/asnbv2_3services_EN.php

This post has been edited by haziqnet: Sep 6 2020, 12:34 PM

i think what he mean is the principal surrender value. If taking the moratorium than his principal will be less. Moreover after moratorium, all installment will deduct the accrued interest first and not include the principal.

This post has been edited by haziqnet: Sep 6 2020, 12:38 PM

Here is just additional info.

ASB financing islamic because it is using islamic term, interest refer as profit.

So differed profit = differed interest.

Share to those who not familiar with the term use in islamic banking yet.

This post has been edited by haziqnet: Sep 6 2020, 12:52 PM

actually if u read my previous comment i already make correct statement about it. After further reading and asking the bank now i already understand that once moratorium finish bank will deduct the accrued interest first. I advise before you make comment better read the previous too bro.

This post has been edited by haziqnet: Sep 9 2020, 08:27 AM

you can always choose this option if your dsr is still good. Terminate is easy but to reapply if your dsr already burst its harder for bank to approve your loan. Luckily there are several banks where you can still apply asbf even your dsr burst by paying 1 year advanced payment.

This post has been edited by haziqnet: Sep 9 2020, 08:39 AM

ok for this question, when you terminate your asbf, principal sv you get is depend to your total outstanding balance.

Accrued interest during moratorium will be added into your total outstanding balance.

Let say your loan is 200k.

Current total outstanding balance is 195k. If you terminate you will get 5k principal sv.

But if your total outstanding balance is 203k, you will need to pay 3k to the bank.

Therefore you need to check your current total outstanding balance to calculate roughly how much you will get when terminate your asbf. Bank will never waived their interest/profit.

Note : principal sv = principal surrender value (this is the cashback you get when terminate early)

This post has been edited by haziqnet: Sep 9 2020, 10:13 AM

yes correct. thats why we agent never recommend our customer to apply asbf with takaful. It will effect the loan. However Takaful also have their own surrender value but how much i dunno.
If need to take takaful for the sake of lowest interest take the lowest takaful premium as possible.

Like mine, i apply my wife asbf 100k. To get the 3.6% need to take takaful too. Therefore i apply with the lowest takaful and the premium add into my loan is only RM98 make a total of my loan to 100,098 only. Only take 1 month payment already make my outstanding balance below than 100k.

congrats bro. what is the rate you get? 40 years too?

nice bro. 3.6% is one of the lowest

only 200k loan per individual currently. before can apply loan 400k per individually. For your question the answer is no. You can only topup another 100k by cash.

cannot bro. Only 200k max per individual can apply asbf. The rest need to topup by cash only.

nice lot of bank reduce their rates now. I think 3.55% is the lowest currently. But maybank need to apply with takaful right. If not mistaken its compulsory. Dunno if now not compulsory anymore.

no problem bro. few years ago max 400k per individual. but currently only 200k

if takaful is compulsory, you request the min premium you can apply. No need to commit full tenure takaful. This will give you more principal incase terminate early.