If you take the loan, the money is not credited into your account. You'll get a certificate (sijil asb) of rm30k. But the bank keeps it.

What you have is your asb book. Where you can update the amount of dividends gained early of each year. You can use the dividends, not the principal amount, rm30k.

Good luck and all the best, its not easy to save rm1500 every month consistently for 10 years, soon you will have family, kids, parents getting older, things gets more expensive, more commitment, hospitalize and medical bills etc etc... Dicipline and financial planning is the key...

I save my own money, without taking up the asb loan so far.
Yes, you can ask for a standing instruction, how much you want yo be deducted from your account and credited into asb.
Are you working?
There's a form for this.

i had this asb loan for about 4 years already and in my calculation i already have a good outcome from this.

in 2009 I started an ASB loan for RM 200, 000 with installment of RM 1053 monthly.. i'm paying them monthly without miss by using my own money and keep the dividen in the account for emergency cases( luckily this event yet to happen).

to keep it simple we do yearly calculation:

i paid RM 1153 x 12 = RM 13836
so suppose to in 4 years i should be paying RM 13836 = RM 55344 till the end of this year

i don't really pay much attention in my yearly dividen amount but in right now i got almost RM 50K in my account with only 3 years of dividen money.

dividen amount:

1st year : 15 K ++
2nd year : almost 16K
3rd year : 17K +
4th year : should be increasing.. no idea how much.. might be around 18K..

so, if you add up you will get total of RM 66000.. you only pay 55K for those years.. if you do it right, you will get the benefits..

1) yes, i made the longest possible term to reduce the installment since i was a student that time..

2) i think so, but IMO, it will be better if you keep in paying and watch your money grow since there is a limit on how much you can keep in ASB.. it will be better to max it out..

1)cimb offer 30 year right now, maybank & rhb still 25 year max.

2) why you want to pay more money in return get less money?

Start asb loan whenever you have extra money spare. Afterward you can add more or cancel & reapply for higher loan.

for the lulz, i took a 100k ASB loan for 10 yrs

no specific reason, just trying to build my credit profiling

and it seems to work

easy

you take out 100k and u loan 100k

the 100k you put in AS1m

ASB dividend: 8%

Loan interest: 5% (BLR - 1.85%)

AS1M dividend: 6.3%

total nett earning: 8% - 5% + 6.3% = 9.3% (more than ASB alone )

leverage your earning while you build up your credit profile

no.

car = liability

house = asset, yes. but it locks you down to 1 place and u cant grow unless u willing to move out from that house

the consequences is..u get more money by doing this rather than keep letting it sleep in that dormant principal but.. how???
actually..the concept is really easy your monthly payment comprises of interest and principal. after x years of servicing the loan, your have manage to pay down the principal.
now once u terminated the loan u will get the principal back together with the insurance surrender value.

to grow more u put this money in other pnb product such as asim etc. which will give around 6-6.5 anually. instead of 0 return if you let it rot in that principal.

my point is..u stand to lose if you service the loan till the end, but if you do this ( by terminating the loan and apply for a higher amount) u will get better roi.
as i said before in this thread.. your roi can reach up to 25% by doing this.

if u are not sure of the term used here. u might want to google first for better understanding.

cheers

get a bike. it serves the same purpose
house is a chiken and egg thingy
wait till you are comfortable and rich enuf, house price will increase too much liao

buy too early, you're locked in and can't expand your career as freely

Kinda remember a quote from George Clooney in the movie "Up In The Air" - The slower we move the faster we die. Make no mistake, moving is living.

stay with your mom and dad

they'll appreciate the company and reduce the empty nest syndrome

if u stay outside, u can get housing allowance which is about a few hundred per month 

good quote. but again, at some point u will have to settle down and think about your old age. u dun want to be at age 50 and still sending yrou kid to kindergarten. everyone will ask you, is that your grand son?   
ayam at that stage liao. quite late 

if u taken 200k ASB loans, later when u wanna take housing loans could face some issues... I heard from some of my friends 

Avoid asb loan at all cost. It has more cons tha pros.

one reason I know of is some issues when applying for housing loans other than those bank offering ASB loans..

other than that?

cimb offered longer tenure...good for leveraging and compounding.