I'm considering to take another asb loan, but which amount not too sure... either 40k or 50k... but with the latest dividend rate for last year, I'm having second thought, whether to take it or not.

Would you like a proper calculation that saving with one's money DOES pay off than taking the loan? 

First you need to confirm with the bank your current loan is no lock in period. If it does than you can terminate and reapply without any penalty. But take note whenever u apply for termination u might paid more interest for that month and still pay your installment until your termination process complete. If not, bank will take the unsettled payment first than after that will refund available principal into your bank account.

Most people terminate and reapply to get better rate, apply with no takaful, max loan tenure and so on.

Some people terminate and reapply because they want to get the cash in hands.

About the ASB loan insurance, is it compulsory? Since this can be cancelled anytime without penalty.
If compulsory, can the insurance coverage period be shorter than loan period?

Do you need to do medical declaration (as in declare no illnesses) when applying for ASB loan insurance?

I have applied for 200k ASB loan from Yellow Bank but I am not sure about the extra 'Profit Charged' in my account.

Description                Debit                  Credit

PROFIT CHARGED++++++RM625.79++++++++++What is this extra 'Profit Charged'?       
RTA PREMIUM DEBIT++++RM6,896.00+++++++++PRTT of 30 years (have to)
GST DEBIT ++++++++++RM3.00++++++++++++GST charge on the ASB cert
MISC DR - CERT FEE++++RM50.00++++++++++++ASB cert
DISBURSEMENT+++++++RM200,000.00++++++++The loan amount
The banker never mentioned about it only the ASB cert, GST and PRTT part, I will surely contact my banker for explanation.
Can someone explain how that 'Profit Charged' came from?

Do you actually need insurance for ASB? I thought the bank can just sell the units to get back their money if anything happens to you. Any banks out there that provide ASB financing without insurance?

my advise no need to terminate. Because 5% is quite low already. If u want to apply for new loan thats ok.

Does anyone knows if ASBF amount will be shown on myASNB portal or not.
Previously, in the blue passbook, you wont see it, only the dividend once a year.

For example, if I have 10K in ASB and I took 100K ASBF, will myASNB portal only shows 10K or 110K with the ASBF cert.

Thanks.

Refer the certificate/loan column.

Holding statement will probably show up to a month (or monthly holding report).

I can see "Loan: Normal - Bank" for a new/recent ASBF disbursement under "Penyata Akaun" page then select "detail transactions statement".

It wont show ASBF value at "portfolio" page at myASNB.

Phew..thanks. I applied when the interest is 5.2%. 50k, and the monthly repayment is 277. Is it ok? If ok I wanna shoot another loan..

Will try cimb. But cimb got 4.8 only for 100k above only. I target loan another 50k. One more thing. My salary goes to maybank, that's why easier to approve. Because my company problematic. One time pay at 28th day, one time pay at 30th day of the month. Very inconsistent. I've tried Cimb once, they don't approve

Hi guys, sorry if this is not the right avenue but I just want to share that we are currently having a promo in Ambank for ASB financing @ 4.75%. Max tenure is 30 years with no lock-in period.

Should you have any enquiries, I will be more than happy to answer them.

Thank you! 

Hi,
want to ask

Let say if I have like 5K cash to pay for 1 year and i to do ASB Loan.
and after 1 year, i just want to use the dividend as monthly repayment until the loan finished.
How much is the suggested loan i can make? And How many years?

My friend has been asking me to start Unit Trust as well so im looking at the benefits, so let say for short term let say 3 years if i dump 100k on Unit Trust not bad also aite?

Just want to share new info

Maybank and cimb already increase the new rate from 4.8% to 5.05%

Ambank from 4.75% to 5%

Bsn still didnt get any news yet but im certain they also will increase the BR.

The new rate will effect to all either existing or new asb customer.

However to existing asb customer if after follow the new rate the increment is not above than RM50 then no changes to the installments.

But for the new customer will follow to the new rate which is 5.05% include the installment.

The spread will not change until the end of loan. In asbf loan there is a spread include with the BR.

The spread at cimb is 0.9% + 4.15% (BR).

For example normal rate at cimb is 3.9% + 1.3% = 5.2%
After the increment of 0.25% at the BR 3.9% will change to 4.15% which the total of the new rate include the spread will be 5.45%.

Thats mean 200k installment at 5.2% (30 years) = 1098.22 after the new rate will turn to 1129.31 (different RM31.09) - current asb customer the installment will not increase

While 200k installment at 4.8% (30 years) = 1049.33 after the new rate will turn to 1076.76 (different
RM27.43) - current asb customer the installment will not increase
Ok thats all i want to share for today. Hope u guys will get something from this reading.

-haziq-