That is only for those funds that has been in there for more than 10 years. For those funds that were bought only this year gets about 1/120 * the number of months it has been in the fund.

That's great sharing bro but I heard that some banks consider ASB dividend as part of income if their ASB loan more than 1 year. How true is this?

It is true~

But you need to prove that the dividend has been deposited into your ASB book, or if you could show the ASB statement to prove the dividend.

Some banks require 2 years consecutive dividend for it to be considered as part of your income too.

Yes, i can confirm this, i'm using ASB dividend as part of income to public bank when applying housing loan. they accepted.

Same with me..took out ASB loan 200k..trying to buy 600k property..thought can't get loan due to almost 1k per month for ASB loan..it turn out my loan is ok since they say my ASB dividen is taken as my Salary..btw i'm taking from maybank..

This post has been edited by gulstein86: Dec 18 2014, 04:35 PM

Yeap, ASB dividend, just like any other dividend from other funds like Public Mutual, fixed deposits, Tabung Haji, etc, can be used as part of the income.

However, it is important to note that the income has to be proven. For those who subscribe for the ASB loan next year, for example, would not be getting the ASB dividend statement until January 2016, as such, the commitment from the ASB loan would be without any dividend to counter with.

If I were to terminate the loan, the dividend in ASB is mine right?

Yes. Dividends would be calculated based on the minimum balance of unit for each month... divided by 12 multiplied by the announced dividend. Since it is close to the end of the month I suggest you terminate it on 1st january so you can enjoy full months dividend for December.

Thank you.. will do so.

Go for the compounded dividend. Look for long term, not short term.

Hi.. If i've already had 50k in asb account, can i still take loan 200k max or need to transfer out the original 50k first?

Thanks

transfer 1st..

You still need to transfer it out if you want 200k units max with a loan. However, the dividends you receive from the 200k will increase your future maximum limit, even if you transfer this dividend out. This it is possible to have more than 200k units, but it can only be done by compounding your dividends by leaving all the dividends in it year on year.

Hi i have an overdue one month for this ASB loan. Can i still get my divident on january or not?

How many months till the bank terminate our account if overdue?

I may not be the best person to answer this being a mortgage broker, but I believe that the overdue does NOT effect your dividends received, because you still have the ASB units held under your name (although taken by the bank as your collateral to the loan that you took with them). As such, the dividends are still payable to the unit holder (you)

However, the 1 month overdue would have incurred extra interest and all of your future payments will be servicing this interest first before paying for the outstanding balance owed to the bank. It shouldn't be too much, but do check with the bank how much extra interest that you need to pay on top of the installments.

dividend sure can get. tat no problem..

only problem is your ASB loan 1mth overdue..

I think around 3mth better to check with the bank

Thank god i read this thread first.
Now i know a little bit about ASB Loan

Hi, I start to pay starting this month for 100k loan (Maybank)...but it via debit every early month...so after 1 year, how can I let the bank know that I want to start pay using dividend instead after that?

and another thing, how to know the 100k loan already deposit to my ASB account? because during when signing the loan document, I didn't write in my ASB member number...I only can see all the transaction via M2U...

Thanks

I would like to know this too. Ive been paying for a few months, only can see the transaction via M2U.
Shouldnt they give a cert or anything?

The monthly payment you're paying is the loan payment you take from Maybank. The divident you get in January every year is given by ASB (PNB), so they are separate.

When people say use your divident to pay loan, what they mean is that you have the option to take out the divident money every month, and pay it to your loan account. But you will have to initiate this yourself. Of course you can also take this divident money and go jolly, while pay off monthly loan using your salary.

Whether or not you can transfer ASB divident to your bank account via online, that you have to check with your bank. Same goes to if you want to double confirm that your 100k ASB cert is there. Banks dont lie, if you get your loan contract then it should be there. Note that when you borrow 100k, you dont borrow cash as in real cash. What you get is a 100k ASB cert parked under your ASB account to earn dividents.