ASB loan, worth to get it???
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 Dec 3 2012, 10:45 PM
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#1
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3 posts Joined: Dec 2012 
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QUOTE(ral87 @ Nov 29 2012, 08:50 AM) hello guys, im planning to get an asb loan from either Maybank or rhb bank, any recommendation on which is better? or even a good agent for the loan? as i would like to listen to a detail of calculation before deciding the amount of loan Hai Ral, I may send my colleague to explain if you are keen. Its good product for bumi as savings/retirement. MBB is cheaper than RHB. Regards |
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Dec 12 2012, 11:08 AM
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#2
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3 posts Joined: Dec 2012
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QUOTE(am33r @ Dec 9 2012, 12:38 PM) Sorry for noob question..If plan to take 200k loan from ASB, do I need to transfer my current saving in ASB to other account? Or just need to top up the balance to make it 200k? Max for ASB is RM200K, should you have balance inside, can transfer to other type like Wawasan/Didik. Once trnasfer, you can apply 200K loanAdded on December 12, 2012, 11:09 am QUOTE(tom_87 @ Dec 12 2012, 05:05 AM) How bout the requirements to qualify to take the loan? ASB loan is partly under purview of responsible financing, thus, total deduction of commitment cant exceed 70% of net income per MBB guidelineAdded on December 12, 2012, 11:16 am QUOTE(suadrif @ Dec 9 2012, 02:46 PM) let say u have rm10,000 in your current ASB saving account. As max per individual is RM200K, you have to transfer the saivngs to other fund before new certificate of RM200K can be issued.u apply a RM200,000 loan from ASB when your ASB loan is approve, bank will issue a certificate of saving RM200,000. that means now your ASB have RM10,000 of your saving and RM200,000 of certificate. at the end of the year, which is financial closing,. u will get your dividend based on RM10,000 + RM200,000. but in your book, the amount that appear is only RM10,000 + total dividend. the RM200,000 will never appear in your book unless the tenure ended. on 2/1/13, dividend will appear on ASB passbook. Loan details will not be shown. Added on December 12, 2012, 11:17 am QUOTE(luqus @ Dec 10 2012, 03:06 PM) thanks. btw got islamic loan for asb? Yes, at this moment, only MBB offer. Added on December 12, 2012, 11:26 am QUOTE(aoisky @ Dec 11 2012, 07:19 AM) Yup a friend of mine work in banking firm might as well unable to explain to me how the interest calculation he only provide the schedule table and when i asking the calculation formula, i gave me the formula i say wow song long and complex. the interest calculated isn't fix monthly. i wonder sometimes higher sometimes lower. if you read back this thread start from the very beginning you'll may found their provided calculation isn't accurate. other than you follow respective banks' interest schedule and it may change from time to time. Well, the instalment of ASB is just the same as housing loan. You may download those apps for instalment calculation and i am sure most banks' computation is almost similiar. Added on December 11, 2012, 7:21 am as far as i know ASB loan you can only take out the dividend not the loan amount until you fully settle your loan repayment caused your asb passbook all you can see is your own deposit $ and dividend except the loan amount. BLR = Base Leading Rate Difference on own savings and asb loan :- savings per mth : RM200 or RM2,400/yr, dividend : RM2,400 x 8% (example), net RM192. asb loan : RM200 (instalment, RM35K for 25 yrs), dividend : RM35,000 x 8% = RM2,800 - RM2,400, net RM400 Difference : RM208/yr. Both are equivalent, provided BLR & payout rate remain above 8%, instalment is prompt. Added on December 16, 2012, 2:21 pm QUOTE(tom_87 @ Dec 12 2012, 05:05 AM) How bout the requirements to qualify to take the loan? max repayment on all loan not more than 70% of net income..This post has been edited by KH_Yulek: Dec 16 2012, 02:21 PM |
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Jan 3 2013, 01:05 PM
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#3
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3 posts Joined: Dec 2012
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QUOTE(mh_one983 @ Jan 3 2013, 03:28 AM) Hello all sifus... Most bank impose lock in period. So long it expires you may settle the loan in fullthis is the first time I've taken a loan for asb.my noob question is, can I setel my hutang in large sum instead of monthly payment for 25 years?i mean settle my loan earlier than expected.say if I kena durian runtuh,can I do so?any penalty?or am i tied to that 25 years? thank you. |
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