Please advise...

I am a 21 years old student and I did my calculation for 30 years because that's when I reach 51 years old.

From what I heard, maximum cash you can put into your asb account is 200k,anything more than that has to be the dividend

Let say you put in 200k... dividend 8% annually compound interest.

200,000 (Base)
216,000 (1 year)
233,280 (2 year)
251,942 (3 year)
272,097 (4 year)
293,865 (5 year)
317,374 (6 year)
342,764 (7 year)
370,186 (8 year)
399,800 (9 year)
431,784 (10 year)
466,327 (11 year)
503,634 (12 year)
543,924 (13 year)
587,438 (14 year)
634,433 (15 year)
685,188 (16 year)
740,003 (17 year)
799,203 (18 year)
863,140 (19 year)
932,191 (20 year)
1,006,766 (21 year) Millionaire!
1,087,308 (22 year)
1,174,292 (23 year)
1,268,236 (24 year)
1,369,695 (25 year)
1,479,270 (26 year)
1,597,612 (27 year)
1,725,421 (28 year)
1,863,454 (29 year)
2,012,531 (30 year) Millionaire!!

Is this correct?

i think 8% - 6% (inflation) = 2% interest for best scenario......

after 20 years should be around 310k after inflation...

is my calculation right??

rhb asb loan stop already meh?

can anyone confirm whether the divident after investing 200k will also be used to calculate divident for the next year?I understand that there is a limit of 200k ,if we invest directly,but what if the additional amount is coming from the dividen,will it still be re-invested?

sound interesting, but i guess no luck for nonbumi?

any chance cimb going to give the 25 years loan for asb?

wow! thanks acexii. is it easy to get 200K loan? if house loan approval become hard is there other tips to make it easy which has low interest?

I already have a house and a car before applying asb loan. Please advice after the asb loan approved, will it be harder for bank to approve my application for let's say i want to buy 2nd house as investment?       

if that loan is 6.++% then the divident payout by ASB is 6-8%...i thnk u better stick to FD since u can direct get 3.7% interest..

This is not the asb loan scheme.. Saving own money.
But yes, takes longer to achieve higher dividends payout, but the money is mine. Not held by the bank.

so fast changing mind ... ..

For me, ASB loan is good with this mindset: "susah susah dahulu, senang senang kemudian". Pay the loan for 1st year and wait for 24 years to get money. .

I have a tips not "too struggle" in first year. If you want to get ASB loan, mid year is always the best time to get it.

Some wonder why?
Answer is you actually pay half of monthly commitment but it takes one and half a year.

Some wonder how?
Pay monthly commitment with dividend in second year.

Some still wonder how?
My calculate is when apply in June 2013 and my first payment will be due in July. July-December 2013, you are earning dividend. I myself took 200k loan for 25 years and paying RM1190 monthly till December. In early January 2014, I will get dividend, say 8%, I will have RM8000.

Use the dividend as monthly "subsidy". RM8000/12 = RM666

So, my payment on January-December 2014 that I USE MY OWN MONEY is: RM1190-RM666 = RM524!

Based on record, January 2015 onwards till the rest of tenure, I spend RM0 of my own pocket and get RM200k at the end of tenure. Sounds a good deal? Definitely!

ASB never fail to pay dividend at least 7-8% a year. Based on record for 20 years, we are pretty safe but anything can happen in the future. As for now, take the opportunity. Malay is  a bit lucky in this country. If ASB open to non bumi, I guess, ASB will be fully subscribe in no time. .

Mate,

RM8000 dividend I mentioned in previous post based on 6 months dividend for RM200k loan.

RM200k x 8% dividend = RM16000/year.
6 months = RM8000.

So, my theory is right but getting ASB loan on November is not a good idea. . June-September would be the best time to get based on my own judge. .

taking 100k for 10 yrs or 200k for 25 yrs? which is better?

You understand that right. So monthly saving is better at this point(the initial 30k)? I've calculated it and indeed a loan will set me back a few grand...

It just that I don't have any CCRIS record before(all stuff paid in cash; no CC). I'm just afraid that I can't secure the 200k ASB loan later on if I don't have any proven track record and already serving my housing loan at that time. Say my monthly salary is 4k, 1.5k/month for housing loan, no other commitment, is the 200k loan achievable?

Correct me if I'm wrong 

Hi guys.. I actually think I've screwed out something. Here's the story,

- Actually though to buy a house from someone as the price is very2 attractive in a hot area. If get, net passive income would be a little below RM1000. No need any cuci2 or improvement. Just buy and sambung sewa.
- Went to BIMB, can’t get loan as my salary is <2000
- went to CIMB, actually can get loan, but the person introduce me to the ASB financing. After hear everything, I kind of interested..
- Next day, went again to take the ASB instead of the house.. 100k (Several reasons, the house was told might be undervalued by bank.. so I need 20k downpayment.. Also, if value is ok, I still have problem with downpayment..)
- ASB loan starts November, now I’m actually regretting as I actually can try discuss with an uncle of mine to help me finance the house.. (House still available)
- So, now, say I want to cancel the CIMB ASB loan as I know it has no lock in period. I calculated that if I close the ASB loan after dividend was given early next year, I’m not loss too much (actually, I’m not sure, I think based on my calculation I get a little around RM90 profit )

Any opinions from fellow forumer? I’m really regret this thing, and can’t really concentrate on my job now. Haha..

ASB Loan PROMOTION BLR-2% or BLR-1.85%

For loan amount less than 100K, rates is BLR-1.85%
For loan amount starts with 100K to max 200K is BLR-2.0%

- No Lock in period
- No penalty
- No processing fees
- Only need to pay RM50 for ASB certificate upon acceptance.

Maximum tenure is 25 years, mins 5 years.

For information, pls contact Dorothy 016-6634013