just found out if we do the loan, we'll get the loan amount deposited in certificate form into our ASB account. how do we check if the loan money is deposited already then? cause if we update our book it won't show the money in certificate form..please correct me I'm wrong.

I'm pretty sure those who take ASB loans only plan to pay the first year with their own money and later use the dividends to cover the rest of the instalments.

for example I took 100k loan for 25 years. I only have to commit about RM8k to pay for the first year. The rest of the years can be covered with the dividends.

Total money spent out of my pocket = 8k
Total money received after 25 years without doing anything = 100k

unless inflation gets crazy and 100k in 25 years is only worth 8k in current value, I don't see why ASB loan isn't a good choice.

please explain how I'm not gaining when I only have to fork out RM8k of my own money and get RM100k 25 years later.

Alamak haiiii..still dont get it ka? I know I'll be paying more than what I will get in the end, but I'm not paying them with money from my own pocket. I'm paying the bank with the dividends that I get.

so technically the amount of money spent out of MY pocket, is only RM8k.

not sure if trolling or too smart..

Hi guys, recently I acquired 80k from inheritance. currently all parked in ASB while deciding what to do with it.

I'm planning to apply for max ASB loan, let the dividend compounds & cancel loan after >3 years, then repeat.

Initially I was thinking of taking 15 years loan for 200k just for the sake of paying less interest, but after playing around with ammortization table (20 & 30 years), I realized the ROI % when cancelling for longer tenure is higher. e.g. dividend + principal gained - money out.

Here's my plan:

Apply loan 200k for ASB1 & ASB2. Park my 80k (to pay monthly instalments) in Tabung Haji. Transfer manually every month from TH to loan. This way I'll get dividend from ASB1, ASB2 & TH (but cash in TH will get eventually gets lower when loan is paid monthly).

Based on current rate, I should first apply ASB loan RM200k for 33 years (this year age 32) from banks that could offer ~4.5% interest, without insurance (or lowest insurance/takaful), without lock-in period and RM60 loan fee (or all banks have started 0.5% stamp duty?).

1. For the second loan RM200k, ASB2 financing still available? I read around and some said this is not available anymore. If this is not available or not a good choice, which way should I go for?
a) apply ASB1 RM200k loan under my child's name
b) apply ASB1 RM200k loan with joint loan under my wife's name

2. If I successfully managed to apply for both RM200k + RM200k (400k) loan, my debt service ratio will be at 44% using gross salary. Will there be an issue to apply for other loans in the future? (currently have 1 house mortgage & 1 car loan)

Mitigation plan if I suddenly need higher monthly cash flow, turn to hybrid mode (ASB2 dividend to pay for ASB1 installment) or worse case just cancel both loans.

diam lah, mintak calculation in previous post tak bagi2.

luckily most of us here aren't like u who depend on hearsay instead of doing own research & calculation.

Applied for ASBF 200k on February from HLB with effective rate of 4.5%.

I believe OPR has been reduced twice since then, -0.25 & -0.5.

So...where do I check my latest effective interest rate on HLB portal? already tried searching but can't find it. (I believe the OPR adjustment is more than RM50 for my case)

For HLB, just got SMS last week my new instalment will be reduced from RM989 to RM862 effective in August.

First instalment adjustment received since this loan tenure effective in February 2020.

As per reason below. But I had to manually transfer every month since Standing Instruction was stopped by the bank.

Pay using dividend means you wait until this year dividend is announced, then wait for the dividends to be deposited to your ASB account, then manually withdraw the dividend to your bank account to be automatically deducted monthly for loan installment.

This is also called rolling method. In order to do this, you need fork out your own cash for at least 1-year. The following years until end of loan tenure just repeat the manual withdrawal process once every year.

First, what is takaful? Would a bank or any institution offer such benefit for free? No such thing as free lunch.

Like others mentioned, maybe agent tipu.