Nothing free in this world bro. By loaning from banks, yes you are enjoying compounding interest, also good feeling of having 5 to 6 figures of ASB units and so on but it is not all yours, you get some of yours and banks get theirs. Banks making money out of you till you finish paying their money back.

Please take note that most (i think all)ASB loan come with BLR base interest rate. Just imagine if BLR is sky rocketed to 8%. Is it still possible to be covered by your yearly ASB dividend? We are not talking about total economical collapse here. Moreover the dividend rate is never guaranteed.

After all it is about discipline, as I said earlier, if you can pay your debt consistently why can't you do that for your own savings? It is far more profitable and some more offers peace of mind without any commitment to the bank.

for asb loan. it is practically free money. laverage is the key here.I understand ur line of reasons. but if study this asb loan thoroughly. do some research. im sure u will have a different opinion.

the drawback is. u might hv problem with ur housing loan. coz this asb is taken into consideration when applying for a new loan.

2 scenarios tht could affect asb loan.. blr shoot through the roof. and dividend falls under 6.5%.

if these unthinkable happened.. by all means..terminate the loan. most asb loan nowadays has no lockin period.

one more thing..my advise is..dont serve the loan till the end. ideally pay for 2-5 years and terminate. take out the principal. reapply the loan with higher limit. this way. ur roi would reach 30% per annum.

If no lock in period then this loan look a bit better. At least the risk of losing money has been reduced a bit.
Still i would prefer "sikit-sikit lama lama jadi bukit"

Looking at current situation, I think there's would be some upward change in BLR rate next month Be prepared to pay more or longer period for your ASB loans

i am afraid you will get dissappointed. there is no special rate for asb loan, even for staff maybank. other bank might be different though

u working in maybank or know someone working there?

don't worry if blr increase.. surely bank will offer competitive rates because asb loan is a win-win situation. if dividend can't cover loan installment , no one will take asb loan. bank pun rugi maaa...

bro masami, am interested to know more bout above bold item.. sent u a pm..

what is current asb loan rate?

Mate, ASB loan is not a fixed contract where you can exit the loan anytime during the tenure. If BLR sky rocket to 8%, it is a small profit (8%-1.6 = 6.4%) while ASB dividend for past 20-30 years is always above 6.5%.

Imagine if BLR hit 10% which I don't think will happen in near future, we can always cancel ASB loan and get back the money.

ASB loan is the best scheme for bumi and please take advantage of it. Of course, bank is making money out of your loan but you too, making money out of bank money. So, it is a win-win situation for both party.

I got special staff rate of BLR - 2% for ASB loan.
As for housing loan, it is BLR - 4%. Based on agreement, there is no such thing as need to work for 5 years or 30 years. You pay off, you can resign from the bank. Simple as that.

And I'm not from Yellow Bank.

veli good offer by the bank menjaga kebajikan pekerja

in terms of benefit yes. but in terms of work-wise no.

My asb loan rate is blr - 1.25. Should i refinance it?

This is lovely. Thank you for responding first-handed

May I know if the special rate applicable only for the staff or included to husband/wife/family as well?

By your statement above, meaning that there will be no "work till year 5 to enjoy the privilege"? Once hired, the special rate is available?

Thank you again in advance.

True. She'll be busier than me @ 85+ hours/week

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Nicely said. Can't said myself better.

Anyhow on the bolded statement, I already double check with the Maybank staff and she said it won't be any problem as the bank know you will be most probably gain the nett benefit from the loan instead of burden.

I know there will be special rate. I am more curious on how much the nett difference offered compared to normal citizen.

If I am not mistaken, you can't made an early settlement.

Based on my understanding, for example;

30k loan @ 25 years = RM 285/month= RM 85,500

Even if you are ready to settle within 10 years for example, you still need to clear the total of RM 85,500. Hence, there is no use in early settlement.



Kindly correct me if I am wrong

Only for the staff.. Once you become confirmed staff, you can enjoy the benefit.
As for ASB loan, even after u left the bank, u still enjoy the staff rate as i opt for own payment method instead of salary deduction.