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

yes! Faster go apply now before it's too late. Later miss the chance, don't cry baby

better if u can cel asb loan with rhb and change to cimb
cimb max tenure is 30 years, so the installment will be lower
i can help u with that

Asb loan is still worthy. Dun worry too much about the downtrend. ✌

Hi guys,

Just want to ask you guys a quesiton.

If lets say I already have around 50k in my ASB account, am I still eligible for the 200k ASB loan? Thanks

At the bottom is my copy-pasted text on the steps to take when refinancing the ASB loan

Pros:

1. better rates, you pay less total interests
2. better installment (likely, but depends)
3. re-maximize the borrowing, get back your capital paid that can be used to be further reinvested

Cons:

1. loss of 1 month's dividend, but can be covered through the lower interest rates. Have to do calculations on this

The best rate of ASB-financing is now 4.85%, at 5.15%, you are looking at 0.3% p.a. interest rate differences. Simple calculation: for every RM100k that you borrow, at 0.1%, you are paying RM100 a year to the bank. If you borrowed RM200k, at 0.3%, you are looking to lose about RM600/year; however this figure gets reduced over the years due to the repayment of the loan. 

If you are looking to refinance, might as well go for the ones with the best rate. An ASB broker can do whichever bank you want, including the ones with the best rate as well as the ones with the longest tenure.
Steps to minimize dividend-loss when performing ASB-refinancing
 
 
1. Apply for an ASB financing. Note to the banker/agent/broker that it would be for a refinancing

2. Congratulations if financing is approved. If it is approved early and/or in the middle of the month, wait. Turn to point (3)

3. If approved and/or waited till end of the month, walk-in to the branch for your current bank and ask for a cancellation. Take note of the banker's name (ask for his/her business card) and mention you will check every few days to see if the application is in the system. This achieves your objectives to:

a. instill urgency
b. display that your are serious about the timeline

4. The current ASB-financing will likely be cancelled within a month, which gives enough time for the disbursement from the new bank to happen within the same month. I would take at most 3 days for disbursement; sometimes the RCO (retail credit officer) would disburse the funds within the same day upon request, near the end of the month (they need to chase their KPI as well hahahahaha      )

5. Take note that there are no guarantees when dealing with people. From my experience, not following up with the banker to ensure that the cancellation is in the system is the cause of most delays. Bankers do not get commissions from processing cancellations, but they are professionally required to do so. By calling the Customer Service and checking for the cancellation is the best show of force. But also understand that beyond the banker that you met, there are other officers that are working on these cancellations; some things are beyond our immediate control.

Threats are never good in a diplomacy though, but you need to display that you are serious about the cancellation and for them to stick to a reasonable timeline.


Figure 1. My client who applied for the cancellation and had the disbursement happen in the same month, so he only lost 1-month's dividend

my bro just got 33 years from hlb.. but i think can fight for 35