guys, wanna ask. can we change tenure n amount after we started one? I want to add amount. or rduce tenure period

have any1 cancel asb loan before?
lets say u take a asb loan of 100k
when u cancel the asb loan what exactly happens to :

1. total monthly payment u have been paying for x years
2. loan amount 100k
3. dividend generated by asb from 100k

See this

With loan

Month by month

So, taking the loans, and pay monthly until the end of 25yrs gives you more?

actually you are neither right or wrong

there's a risk of increased BLR, or reduced dividend, or a combination of both

if all variables remain static, you earn approximately 1 - 2% more with ASB loan than using your own  money

depends if the 1-2% is worth the risk to that individual

I'm thinking to buy a house first(RM100K++) then involve in asb loan.  Bcoz if not, I need to settle down 2 loan at a time and don't have money to treat my family.

yes ur commitment i.e asb loan will be taken into consideration when applying a new loan. it will weigh down ur chances. but speaking from experience i hd no problem with my new loan provided tht u go for the same bank for ur mortgage or car loan.

better still, apply with the same officer. he/she will be more than happy to assist you. i personally did a check with maybank rhb and bank islam and was told that they dont count asb loan as commitments. that said it, i do think tht it depends on the officers as there is no clear cut guideline for this.

Is it good if i terminate the my asb loan after 2 years?how much do you think i can get?its 150k for a period of 25 years. tx in advance!

So, paying without taking out the dividends first?
How many years have to do so?

Hi,

1 - 200k loan for 25 years, yes?

2 - We can shorten the loan by lump-sum payment if we want too right?

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

Possible to comply, as current house is a walking distance from hospital

Grab that opportunity....

How about purchasing medium-cost house (max RM100k-150k) and try to settle within 10 years (doable considering the combined salary AND I am tied to gov for 10 years service). After that, get moving and leave the house for rent.

See, you got few option here. Choose which one closest to your target

OR it would be better to purely concentrate on ASB + AS1M and buying the (much) better house for permanent stay?

Will you stay there for the rest of your life or opt to some place when retired?

why people make loan for asb?

let say I make 50k loan. Where the 50k go?

Depends on ur discipline and needs.
If u jenis yg no discipline, take asb loan...u hospitalized ka, kahwin ka, dapat anak ka, car broke down ka, petrol naik rege ka, mau beli rumah ka, u have to bayar to bank / terminate loan kalau xmampu bayar.

If u know cincai2 (after consider any unexpected event) u can save at least 1k a month, better don't sign for loan.
4 years ago i use loan coz wanna force to save. after 13 months i terminate to get money. That saved me during that day.
Now i know i got much spare so decide to not use asb. I did all the calculation in Excel and found out a very surprising fact:
Case scenario 1 : asb loan 100k term 10 yrs, monthy rm1059..
Total bayar ke bank: 1059*12*10 = rm127,080
Jumlah pendapatan (yearly div stays in asb, assume div 7%, include amount 100k): rm196,714
Untung bersih (money in asb after 10yrs - total pay to bank): rm69,634

Case scenario 2 : no loan, install rm1059 to asb monthly for 10 years..
Total bayar ke bank: rm0
Jumlah pendapatan (1059*12*10, consider all dividen assuming 7%, never withdraw $) : rm182,237
Untung bersih : rm182,237

Using Excel, correct me if wrong. U see? nearly triple profit compare to loan.

Pendapatan means the amount in ur asb account.
For case 1: amount in ur asb account is higher, but when deduct what u have paid to bank, the profit is lesser than asb without loan.
For case 2: amount in ur asb acc after 10 yrs is lesser, but u have nothing to deduct!! everything u pay is to ur own asb account and it's all yours. so..profit is higher.

Some people terminate because they plan to generate money short term (eg 3~5 years). If you take 200k loan ASB and terminate after 3 years, you can easily get approximately 70k. Terminate after 5 years, you can get around 125k. Then, you can use the money for many things you desire. Only have to be patient for short while.

i agree with yugimudo.. if you really need to calculate your loss then u only should deduct total bank interest for 10 yrs = RM27080.. in the end the 100k cert is yours! all in all asb loan still win, bcoz of the compounding dividend..

bro masabi if took 100k asb loan for 25 yrs and did not withdraw, at 10th yr asb total should be reach 210k.. is it a wise decision to take out portion of this dividend to clear the loan?

i also wanted to know why u recommend to terminate loan early.. thanks in advance!

Loan ASB Maybank Islamic dont have lock in period. Conventional not sure. How about CIMB?