As for the insurance/takaful details. How many year is the coverage, and what is the coverage amount. If he cannot give you, ask from his branch, then if cannot also ask from CS, if not ask from the insurance provider

For my customers, I would usually detail to them what the coverage tenure and amount just to there would not be any misunderstanding

3.80% to 3.85%, up to 40 years till age of 65 or 70 (different banks)

Nope, as with most ASBF and mortgages, the rates are not fixed. they are quoted as BR (of the bank) + [spread]. Only the spread is fixed, but the BR can change and it WILL CHANGE according to the economy, usually pegged to the OPR set by BNM

You can withdraw any cash investments from any funds, just walk-in to the bank or ASNB branches to do that

Btw, was it ASB2 or ASM2? ASNB is the name of the Unit Trust Management Company, not the fund.

No problem. To withdraw from these units into cash:

1. agent banks (MBB, RHB, CIMB, etc.) branches
2. ASNB branches

Have a good week

Correct. But that is RM500 limit per month right? Worth knowing about it though

always take longest tenure regardless, as you can redeem the units at anytime and the unit price is always RM1/unit, there are no fixed-asset risks associated to it, unlike properties - which is why some forummers recommend taking shorter tenures for properties

But ASB and ASBF are a whole different game, to know more, please compare the risks associated with ASB vs properties

An an ASB/ASBF sexpert , I agree with bora Prisoner

1. don't touch the dividends
2. check if you have actually maximized the investments in ASB account, if there are any more entitled unit available, do it - put more money in your ASB
3. your extra cash you can put in ASB2 and ASB3
4. Grow your ASB softcap this way

Look at these guys, they are unable to invest in ASB/2/3 so they have to divert theirs to ASM/2/3 and they are queuing, fighting, debating off each other about getting the units... Count yourself lucky to be born with the right "status"

https://forum.lowyat.net/topic/4866563/+3080

Financial literacy is free for those who seek them

Means you need to spend more time in financial sites/forums la

Not as high as ASB but high enough

People dont do it will nilly because of liquidity. Money in epf difficult to withdraw. Or people simply dont have the cash, or in fact have finished their epf direct-deposit quota

that's what they say la. BNM's insurance projection caps this to 5% for investment linked products now if Im not mistaken, which is essentially unit trust funds

Get your UT and investment-linked out of here


I can get 3.85% for 40 years or till the age of 70 too. Let me know if you need help in this front.

It may be best to go full tenure, so you would need to refinance the 120k to 200k. Because the rate for RM100k and below is 3.95%, and above RM100k is 3.85%

There should not be much issues with ASB1 as it is an old and stable funds. Most of the holdings they currently have were invested decades ago. ASB2? Not so much, it is a relatively new fund. Which is why you dont see them opening any more financing quota for ASB2

This post has been edited by wild_card_my: Jul 4 2020, 08:02 PM

1. Yes, as long as you can open an ASB account you are eligible to open the ASBF/loan account

2. The short answer is yes. The long answer is that there are better ways to do this, using her own name without involving you. Even with no or low income, she can still apply for the loan, which is my advice because the ASBF will be part of YOUR commitments in the CCRIS, which will get in the way of your future financing applications (mortgages, hire purchase, etc)

I am an ASBF broker with 11 years in banking these things are doable and done; this is done by pledging 12-months worth of the installment to the bank, the installments will be taken out of this pledge for the next 12 months

If you look at the picture below, some of the clients here are very young, just recently graduated of just started working. They already have their ASBF disbursed.

Let me know if you need any help with the application



This post has been edited by wild_card_my: Jul 6 2020, 09:05 AM

My pleasure mate

4% is not FD rate lah more like 2%

Google for simple interest to effective interest calculators, quite a few calculators out there

Depends on the tenure of the fixed loan

5y: 5.37% p.a.
7y: 5.31% p.a.
10y: 5.21% p.a.

This post has been edited by wild_card_my: Jul 11 2020, 11:13 AM

Yes, in short

Just so people know, Malaysians that are currently ineligible to open ASB1/2/3 accounts are able to do so once they convert to Islam and become a Muslim. Just bring your documents while opening the accounts at the ASNB offices; in some instances, it is possible to open these accounts once your NRIC changes to "Islam"