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 ASB loan, worth to get it???

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Tronoh
post Jul 13 2019, 11:10 PM

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anyone here take asb loan but not to hold until maturity? if so, for what purpose and what's the exit strategy?
Tronoh
post May 10 2020, 12:02 AM

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hi all. I have 30yrs 200k ASB financing since August 2018. i pay ~1k/mth and i continue to pay 1k even with multiple OPR cuts (the rate is initially 4.9%, now 3.65%)

so i just wonder would it be better if i continue to pay higher instalment every month for that ASBF, or if i use the extra cash to take ASB2 financing instead.
Tronoh
post Dec 23 2020, 11:03 AM

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so let's say I have 100,000 unit, does this mean I don't get effective 5% but lower?
first 30,000 : 5%
next 70,000 : 4.25%
effective : 4.475% = 30%*5% + 70%*4.25%
Tronoh
post Dec 23 2020, 11:16 AM

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QUOTE(tr3xsdcc @ Dec 23 2020, 11:08 AM)
I don’t understand this calculation bro..
0.75% is based from max 30k only which is rm225 for all unit holders right ?
How u get 5% bro ?
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5% is only for the first 30k like you said.

alternative calculation:

dividend is 4.25% for all units, so RM100k * 4.25% = RM4250

then you get 0.75% ehsan for only 30k units : RM30k*0.75% = RM225

so, total dividend received is 4250 + 225 = 4475 hence 4.475% effective payout if you have 100,000 units.
Tronoh
post Dec 23 2020, 11:43 AM

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QUOTE(tr3xsdcc @ Dec 23 2020, 11:28 AM)
How u get this figure bro?
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one way is (30/200)*5% + (170/200)*4.25%
Tronoh
post Jan 7 2021, 10:33 PM

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QUOTE(eastwest @ Jan 7 2021, 02:55 PM)
Anyone cancelling your asbf after the historically low dividend/distribution? Just wondering if right now many peoples are queuing up at bank to cancel their loan..
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not sure how others measure the profit of asbf, but my net holding (asb balance - loan balance - paid_instalment)/paid_instalment after 2.5 years is at -11%. but I'll still not cancel it considering the environment where we are now, which otherwise would make my net holding return positive already.

edit: forgot to mention that I didn't change my instalment amount despite the 150bps OPR reduction, not sure if that would make any difference though. too lazy to simulate now 🤪

This post has been edited by Tronoh: Jan 7 2021, 10:35 PM
Tronoh
post Feb 1 2022, 11:07 AM

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QUOTE(tradingGo @ Feb 1 2022, 01:12 AM)
Thank you for your reply!

I haven't looked at RHB but have been looking at Maybank and BSN.
Say, if I just want 30 years tenure...
BSN is BR+0.85% = 2.6 + 0.85 = 3.45%.

and Maybank
https://www.maybank2u.com.my/maybank2u/mala..._financing.page

It seems Maybank also 3.45% if applied online.
If apply at the branch, 3.3% for the first 3 years, then 3.55%.

------------------------------------------------------------------------

If both BSN and Maybank are 3.45%, then how do I choose between them? Must take insurance, is it? No fees can be waived?
and how long does it take to be approved? Once approve, need to go to the branch again?

Sorry. Never had ASB loan so not familiar with the process.
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Correct me if I'm wrong. I don't think that you MUST take insurance. Bank charter outlined that they cannot bundle two different products, i.e. lower interest rate if take insurance deal is not allowed. Can even report to BNM if such conditional rate is being offered.
Tronoh
post Jul 9 2022, 12:31 PM

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Got a refi offer. First 3 years is cheaper, than after that it's higher. New bank strategy I guess.

Although one can argue you can refi before the end of 3 years but I'm too lazy
Tronoh
post Jul 10 2022, 08:59 AM

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QUOTE(perky @ Jul 9 2022, 12:49 PM)
What is your existing rate and the new refinance offer rate?
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3.65. the offer is 3.55 for first 3 years then 3.80 for the remainder
Tronoh
post Jul 10 2022, 05:51 PM

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QUOTE(NF2M @ Jul 10 2022, 09:05 AM)
I it safe to assume that the rates you shared here are before the recent OPR hike?
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Yes, just before the recent hike
Tronoh
post Dec 26 2022, 07:44 PM

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QUOTE(adamhzm90 @ Dec 23 2022, 11:09 PM)
u guys maintaining your asbf or planning to cancel?

checked my interest rate its at 4.6% now luls
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personally, unless i am forced to withdraw dividends and i can find new investment with minimum 0.5% return with high upside potential and virtually zero downside risk, i have no plan to cancel. Also because it's my fourth year and I am already in the profit.

But again, different people, different case.
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