ASB loan, worth to get it???
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 Jan 29 2014, 12:16 PM
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#1
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Junior Member
18 posts Joined: Aug 2013 
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I wanna ask 1 theoretical question:
Lets say if I took an ASB loan of RM 100k for 20 years, if I terminate it during year 10 which is halfway, will I be entitled for 50% of the certificate value, i.e. Rm 50k that will be disbursed back? TQVM |
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Jan 29 2014, 02:44 PM
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#2
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Junior Member
18 posts Joined: Aug 2013
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QUOTE(yugimudo @ Jan 29 2014, 02:21 PM) Mad, dont confuse between ASB loan and ASB certificate. Sorry bro yugimodo, got it mixed up. In that case, what will happen to me after terminating the loan: After 10 years of payment, you have to check how much principal left to be paid to the bank. But your certificate, will always be 100k. <== Correct me if Im wrong as I never cash in the cert.  1) the insurance paid will be recouped? 2) any penalties if I pay beyond the lock in period? TQVM This post has been edited by /AxmaD\: Jan 29 2014, 02:45 PM |
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Jan 29 2014, 03:33 PM
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#3
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Junior Member
18 posts Joined: Aug 2013
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QUOTE(/AxmaD\ @ Jan 29 2014, 02:44 PM) Sorry bro yugimodo, got it mixed up. In that case, what will happen to me after terminating the loan: 1) the insurance paid will be recouped? 2) any penalties if I terminate beyond the lock in period? TQVM QUOTE(yugimudo @ Jan 29 2014, 03:29 PM) I have yet to terminate my loan but what do you mean by paying beyond the lock in period plz clarify. Ahh, thanks for the correction, didn't realize I used the wrong word.. Hmm, in that case, seems like CIMB is the best with up to 30 years and no lock in period..Lock in: A period where you promise to pay bank 3% if you terminate your loan early. |
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