not true. Just got mine at 3.55%, without Takaful

So I cannot try my luck with other bank? 

Yes, it's compulsory and I gotten my at 3.75%, yday the bank officer just told me the promotion is just in.
Loan approved but yet to disburse.  Wonder what I can do to get the 3.55% although the amount is not much different 

on the contrary my RM said the above promo is for new customers, but after a short nego they offered the same to me 

Thankfully you are able to crunch the numbers to land at that logical conclusion. Some people here would die2 say to refinance and that one can never lose money... I guess you'll be holding off for a bit more? Who knows, rates might drop even lower to make it worthwhile to just absorb the shortfall and refinance.

Sorry. 3.55% maybank promotion.
Just walked into CIMB, they said need to check. They also said if can't then will apply loan for my ASB2

Even for Maybank?

Just got back from Bank 'harimau',

Conditions to be met before refinancing ASB2
1) At least RM5000 principal value
2) at least 3 years tenure completed already
3) old loan has high interest rate

I didnt met criteria 1 and 3 so cannot refinance at the moment

Haha... Yeah... No worries. I'm just having a bit of fun.

About the tip... No thanks necessary. That's what we are all here for. Well most of us anyway..

any asb agent here?

Hi Guys. Wanna ask something in here.

Let me share. I think im in deep shit (Panic Mode).

Last November Nov 2018, I apply for 200k loan ASB-i. At that time, I have no problem to pay monthly up until last 2 months. now here come the problem. I got into some financial problem, but still manage to pay monthly BUT i will only have few hundreds left (for food, travel to work etc).

Ive heard that you can pay your monthly by dividen? try to google but got confuse. Already plan to go to Maybank next week, but no harm if i ask first here, how to do it?

I dont really know how ASB works actually. Got some money back then, and just invest. now menyesal kaw2.

If I can pay by dividen, Its a relief. if no other option, got to terminate my loan next week lah. 

Hi, anyone could advise if it is possible for me to request the bank for a lower profit / interest rate for my current ASB loan. The ASB loan was taken close to 8 years ago where the profit / interest rate was much higher. Thanks

or is it advisable to just refinance the whole loan to another bank?

Thanks bro. I am wondering which bank is the best to get the loan from. Maybank perhaps? Because I have housing loan with them. By the way, did you guys still practice the method where you use the first year dividend to cover the next year loan and rolling forward?

Thanks for the advice. I am trying to seek agents that can help me fast track my earnings. So basic rules is to get the lower rates as possible and longest tenure as possible?

Did you think paying for the first year and let it roll a good idea second year onwards?

By the way, one more question, why you guys insist not to take takaful at the first place? The agent told me that if add in the takaful, the price of the installment is the same.

So what is the use of that?

hi all i have question. i can still get dividend as usual even if i take moratorium right? also can i refinance without cancelling my sijil to another bank?

Sounds about right.

For no. 5, let me elaborate. While paying extra will reduce your principal, you shouldn't do it. Settling the loan is never on the agenda. This loan is not like housing loan or ANY other loan where you need to settle the principal amount to get out of the contract, as some people claim. If you don't feel like paying anymore for whatever the reason, just cancel/terminate the loan. No penalty whatsoever. Simple.

For this loan, up about the 10 year mark, you would have doubled your money. ie for a 200k loan, you would have earned a dividend of 200k cash by then. One could easily 'settle' the loan with the dividend earned. But you shouldn't.

Even if you had 200k cash in your ASB, I would take it out and put in ASB2 and take the loan. Which was what I did when I reached 400k ASB (although you can't do this now. And when ASB 2 opened up for loan, I took out the 200k and dump into ASD and took that loan.

As a result, as of now, I'm paying roughly 30k a year and earning roughly 55k from dividend for almost 100% ROI. Every 2 years adding 100k odd to the base for the interest to be compounded on.

hi thanks for the fast reply. so i can assume no demerit if i take moratorium right? for the refinance it means i need to start from 0 back right? not really worth it but i dont want to continue with maybank anymore

Haha.... I don't really come in here that often these days. When I do, I'm compelled to correct the BS that's been going around.

Yes Opportunity Costs. Trying to instill to the young'ens and start them young. They gotta realize every year that goes by is one year less to compound. We can only advise tho. I started at 25 and in hindsight, I should've started earlier. Came to this forum like everyone else, seeking info and now that I've been thru it, just wanna contribute my 2 cents back.
Actually in today's landscape, at 5.5% you'd only get RM150k. But that just reinforces how powerful compounding is. A slight change will dramatically alter the outcome.

But this, to me shouldn't discourage anyone to jump on this bandwagon as the economy is not gonna be always in the shithole it is now. It will pick up and dividend % will eventually move upwards. Heck maybe new products will emerge.

Even at 150k, translates to 15k a year and at 900 per month, you're looking at a 28% ROI per annum for a practically/NO RISK investment vehicle.

The key here is accumulating capital so you're ready to fly when the percentages improve.

Thanks for all the legendary advice. It is the best time to get loan and invest now? I bet the dividend will be quite low for this year. Sorry for the stupid question.

now the interest is higher than dividend if taken long last few year? if not mistaken, dividend only 1%-2% after paid interest

It baffles me people are still unsure whether to take this ASB financing or not. Take it as early as you can, go for max tenure & lowest interest/profit rate. Practice compounding method.

Just monitor OPR/interest yearly and terminate and/or refinance accordingly.

This is strictly for ASB, not talking about other investment vehicles.

I am below 40 years old la.. consider not young. Well i think i will go for this financing. My wife actually got the asb loan but that was 6 years ago. I think that time the interest is quite high. Should she consider refinancing now?