not everyone is entitled BLR-2%

Below are the criteria..

BFR-2% is given for two customer categories set by Maybank which is HNW or Affluent customer..

HNW - you must have cash about RM500k in Maybank acct (if not mistaken).
Affluent Customer - must have more than RM250k loan with Maybank.

Please correct me if I'm wrong.

Just a gentle reminder to you lots that if you are planning to buy a house withing 2 years, refrain from getting the ASB loan.

The ASB loan will be recorded in your CCRIS as are other loans, and it will be calculated as part of your personal commitments. As such, for most people it is either buying a house with a loan or buying 200k ASB units with a loan, however, you cannot LIVE in the ASB can you? ANd you still need a house and you will continue renting.

I'm honestly tired of seeing clients who couldn't make it for their mortgage due to their ignorance on this little fact. ASB loan agents like we have in this thread will only talk about profits/returns and interest rates but never really care about your financial security as a whole.

But then, you can anytime terminate LASB right?
It is not that you borrow 100k you need to pay 100k right? The bank can anytime sell off the cert.

So if the target is in two years to buy house, just terminate it after serve two years.

This post has been edited by navink: Nov 27 2014, 10:47 AM

You could, but you would already have paid the insurances and in the event of not realizing the LASB getting in the way of your mortgage application, by the time I come back with the results of the failed mortgage application, the client would be left with little time to terminate the LASB and come back to me with the letter. Keep in mind that after paying the booking fees, the client would have 2 working weeks (3 calendar weeks plus minus) of paying the rest of the 0% deposit. Time matters and if you do not know about this it will stress you up.

During the mortgage application interview I would always as if they had an ASB loan, and if they do I would include the commitment and they will usually turn out to be getting in the way of the mortgage application. And most of the time they would express their disappointment of their "bankers" for not highlighting this little fact.

So I am doing that now. I doubt most people know about it due to the amount of cases that I am getting and the ceaselessness of these young people. I dont blame them though, I blame the LASB agents who are too aggressive thus and thus overlooking these important points.

As for 2 years, I mentioned that because most banks would consider your dividend from ASB only after 2 years, and this dividend can be used to cancel out the commitment generated by LASB

This post has been edited by wild_card_my: Nov 27 2014, 10:56 AM

What you mentioned is correct but in order for someone to buy house which I believe is the biggest purchase/commitment of the lifetime, the applicant must have proper planning. Plus for sure the applicant need to come out with down-payment, lawyer fees, etc so proper planning is very important.

The applicant must ensure that LASB is terminated before he/she commit to purchase house else they can say bye bye to own a property.

You are correct, but as the person who see young people everyday to interview them for their loan application, it's disheartening to see that not many of them are aware of the pitfalls of an ASB loan. They never realized that it would get in the way of their loan applications. As such I posted here for their very own awareness because I am sure many of them are scouring this thread.

Before buying a house, one must "celik wang"..

You would be surprised. Sometimes CCRIS problem, CTOS problem.. the worst is the ASBL problem la, because by right a number of them would already get the loan if not for the avoidable ASBL problem.

my bad data, it should be BLR-1.7..

regarding the affluent customer, can i request to revise my BLR if i already took LASB about 2 yrs ago? i think im qualify..

You may write in and asked them to revised the BLR.

hi all, i would like to know, start from which year the ASB investment able to get the bonus dividend?

Month 1, year one. How to calculate:

Monthly bonus dividend = [ 1 months / 120 months ] x ASB bonus declared for that year % x lowest minimum balance of that month

Repeat this calculation for each month of the year, from January to December.

Why 120 months? Essentially, the bonus will only realize itself for the money that has been in the fund for more than 10 years! Because that money you put in 10 years ago would be getting 1/120 of bonus for that month for that year for the next 10 years, 1/120 x 120 = 1, hence you would realize the bonus is 120 months!

Dammit this is the most difficult concept to explain. I can explain pretty much anything, but ASB is a weird-ass fund.

This post has been edited by wild_card_my: Dec 2 2014, 03:46 PM

ASB2 invest in mixed asset? Dividens shud be lower than asb1 right?

Wouldn't say lower, but the fund itself is less agressive. As such it may actually lose less in the event of a downturn. Mixed asset is akin to Balance fund by those UTs, their returns are definitely lower but more consistent on average (pulling this out of my ass here)...

depend on how they invest.

but logically should be a bit lower ASB1 because ASB1 have longer "investing history" & others "special privilege".

client still can go to other banks or branches to try right? Maybe other banks or branches that r more aggressive and lenient for business

how about like this, currently i take an ASB loan for 100k, installment for 25 year.. after 10 year, i wish to sell off my ASB, what are the return will be?

True but it limits the number of banks that you can apply to. Not to mention that when buying a developer property, the nunber of empanneled banks may be limited. In my opinion it is an unnecessary disadvantage that adds stress to an already stressful process of purchasing a house

guys...want to ask
i took 30k asb loan from maybank for 15 years.... last year...
rm 241 per month..

next jan 2015 will be a year

is it i can terminate the asb loan after a year?
will i get the money back? which i paid monthly?

i knew there will be a charges..... how much does it cost?