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 ASB loan, worth to get it???

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facktura
post Feb 1 2017, 02:05 PM

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QUOTE(haziqnet @ Feb 1 2017, 01:41 PM)
no difference. Bank is only a platform for u to get the loan. All investment still do by PNB. Just now u have 2 different banks to pay for the installments.

Still your ASB credit limit will be base on your current loan amount. Let say u already have 100k loan, so u only can apply for another 100k loan...but make sure all the dividend available in your ASB account need to take out first. Or your loan will be reduce. For example your loan 100k your dividen 4k so your total asb is 104k. Based on that you can apply another 96k of loan (Max 200k)

if u already max out 200k the other option for u is to open ASB2 account.
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Hai Mr haziq, may i get your phone number as well for consultation?
i came from Seremban but currently based in KL, mybe we can meet up one day.

new comer in this thread btw, very informative! icon_rolleyes.gif
facktura
post Feb 7 2017, 10:47 AM

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QUOTE(eastwest @ Feb 7 2017, 10:22 AM)
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. confused.gif
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i just took another loan, and seeing how the dividend this year, probably end up for max 3 years only and then terminate.
Malaysia economy is chronic already sweat.gif
facktura
post Feb 23 2017, 08:38 AM

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QUOTE(vondutch @ Feb 22 2017, 10:02 AM)
Hi all. My CIMB banker told me there is a new promotion for ASBf now with 4.8% interest if you pair with min RM1000 in UT investment. Looks like a good deal for me. Any other bank doing the same?
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I just did another 200k ASB loan early this month hmmm.
facktura
post Mar 9 2017, 08:39 PM

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QUOTE(mewanpanda @ Mar 9 2017, 08:21 PM)
Hi there, previously i used to think that it is much safer and flexible to put money into asb every month rather taking the asb loan. But there was 1-2 times i forgot to put it into ASB and used it for shopping unnecessary stuff. mega_shok.gif

So, i just took asb loan this month to max my ASB1 &  just think of it as forced saving. Actually, it provides higher ROI than asb saving and i can even terminate it anytime. biggrin.gif Lets see how it goes next yr, if got extra $, will take another ASB2 loan  smile.gif But most probably, I want to invest my money on stock market. Currently, still learning. hmm.gif
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same here. already max out my ASB1 with loan. still planning for ASB2 soon as well. but trying to play into properties. but hei bro, kinda interested with stock market as well. from where to start learning, mind sharing?
facktura
post Apr 17 2017, 10:35 PM

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noob question.

on cimb click as we check our ASBF status..

PAYMENT DUE DATE : 1 May 2017 - this means need to pay the last on 1st May am i correct? what will happen if i delay the payment after 1st of May?
facktura
post Jun 8 2017, 06:33 PM

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QUOTE(aliffezwan87 @ Jun 8 2017, 02:23 PM)
Dear brother HaziqNet,

I am an Accountant, age 30, seek your advise on my financial profile below:

1. Cash Savings in ASB 1 : RM 115K
2. Considering to apply ASB 1 and 2 financing RM 200K each (rm 1,050 per month, 4.8% interest)
My question is:
1. Which method is the best for me to increase my savings? Compounding?
2. I plan to use my current savings to pay the monthly installment of ASB 1 and 2. Is it the right thing to do? I dont wish to use my future salary to pay the loan installment.
3. If i were to sign up asb 1 and 2 financing, where can i park / invest my cash savings in point (1)?

Many Thanks.

YNWA
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hai bro, i was in the same situation like you. Did ASB-f for both 1 and 2, and my cash saving i transfer to Tabung Haji.
Initially i thought the same like you, using cash saving in TH to pay for monthly commitment. i guess its doable right?
facktura
post Jun 8 2017, 06:58 PM

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QUOTE(santik @ Jun 8 2017, 06:51 PM)
The yellow bank still have 4.8% going on? AFAIK, the promo has ended in May.
Also, for an estimation, the insurance/takaful added will be 1086; hence effectively approx 5.1%.
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Eh if yellow bank still offering 4.8% i must go and ask. looks like a good deal since cimb finished already the promo
facktura
post Jun 9 2017, 02:14 AM

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QUOTE(aliffezwan87 @ Jun 8 2017, 09:01 PM)
Hi. Yes, its doable, but not sure whether it is worth taking loans and the hastle to add new commitments 😅
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well depending on how much commitment you're facing monthly now. hehe

end up doing 2,3 jobs bro brows.gif
facktura
post Jul 1 2017, 06:00 PM

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QUOTE(haziqnet @ Jul 1 2017, 11:58 AM)
Just want to update guys...cimb promo for 4.8% and 5% have been extend till end of year...so grab it now...pm me for more info
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only for ASB1 right?
facktura
post Jul 3 2017, 04:04 PM

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QUOTE(tapiritam @ Jul 3 2017, 03:57 PM)
Hi,

Anyone know which banks offer best rate for asb2 loan. Prefer the one without takaful.
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well CIMB i understand allocation for ASB2F finished already. Maybank not sure. AFfin and RHB still available but not sure can get as good as 4.8% like cimb or not.
facktura
post Jul 3 2017, 04:06 PM

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Silly question.
if wanna use proxy to invest another 200k on another person account, must use under their name right?
meaning loan limit of that person definitely affected aite?

This post has been edited by facktura: Jul 3 2017, 04:06 PM
facktura
post Jul 3 2017, 04:26 PM

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QUOTE(monoikhwan @ Jul 3 2017, 04:15 PM)
can use my name. but T&C applies. agree?
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i have 6 siblings tho but thanx for the offer. brows.gif
facktura
post Aug 4 2017, 11:58 PM

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Hai guys, how to register in ASB portal if wanna check balance and all since no more usage of passbook?
facktura
post Aug 15 2017, 10:18 AM

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QUOTE(haziqnet @ Aug 15 2017, 09:56 AM)
New T&C for 4.8% rates ASB Islamic Financing

- Apply financing 50k and above
- Autodebit
- CIMB account still active not dormant

If u have the 3 above requirements CONGRATS you entitle for the 4.8 rates
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Until when is this rates apply?
Mine is currently on 5.0% rates thinking to terminate next year and apply with this new rate.
facktura
post Aug 15 2017, 02:14 PM

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QUOTE(haziqnet @ Aug 15 2017, 10:53 AM)
my advise no need to terminate. Because 5% is quite low already. If u want to apply for new loan thats ok.
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Already max out my ASB1, sadly cimb no more ASB2 right?
Need to get proxy then..
facktura
post Oct 27 2017, 08:54 PM

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QUOTE(Ronald K. @ Oct 25 2017, 11:15 PM)
Seems that not many are aware that Ambank offers ASB financing too.

Anyway, Ambank ASB/ASB2 financing promo is still available @ 4.75% for 100k and above. Max tenure is 30 yrs with no lock-in period, and takaful is optional  smile.gif
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ASB2 still available?
facktura
post Nov 14 2017, 12:38 PM

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Whats the difference between ASB and Unit Trust?

We know UT can give return up to 8-12% annually right, so if those who has lots of cash, advisable to invest in Unit Trust as well?
facktura
post Nov 14 2017, 09:00 PM

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QUOTE(faizfizy39 @ Nov 14 2017, 08:25 PM)
ASB and Unit Trust are basically the same things. But ASB Financing and UT is not.

There's a lot of way to invest and maximise your returns when you have a lot of cash and it depends on your target and comfort. Different ways have it's own advantages and disadvantages.
Just wondering. Why do u suddenly want to terminate, again?
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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?
facktura
post Mar 15 2018, 03:24 AM

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QUOTE(xeda @ Mar 15 2018, 01:48 AM)
You’re missing one very important point, ASB has a limit of 200k deposit, and any further than that, your money in ASB can only increase by dividend compounding.

The main point of ASB loan is to reach that deposit limit at the first year itself, as this gives you two main advantage over own savings - a) higher base for dividend compounding from the start, and b) MUCH MUCH faster way to increase your deposit limit (as deposit limit is only increased by dividend after your ASB has reached 200k) which might not give you benefit in terms of monetary benefit, but it gives you a great opportunity to invest in the future if you have extra money (sold a house or something).

In essence, you can not keep on depositing 12k++ each year for 30 years as that would mean you’re depositing around 360k++.

Your deposit limit will only increase based on any dividend growth after you’ve hit the 200k limit, so you can deposit until the 16th year or so, and then your growth is only limited by the dividend that you earn. That’s why your calculation is wrong.

Put in the scenario whereby you can not deposit any further once you’ve hit 200k on your ASB and then see how much balance you’ll get at the end of 30 years and it will be a whole different story.

Of course you can always open ASB 2 and then put in another 200k there, but again, it’s limited to 200k only, and the units are limited unlike ASB.

A better comparison should be ASB loan vs TH own savings, as Tabung haji has no limit on deposit, but of course lower dividend and bonus too.
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Just curious, ASB2 is limited to 200k only? but the limit is increased with dividend compounding as well like ASB aite?
facktura
post Mar 15 2018, 09:22 AM

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QUOTE(xeda @ Mar 15 2018, 09:16 AM)
Yes, but ASB 2 is also limited in the total number of units that PNB can issue to public, there’s only 1 billion units available for ASB 2, unlike ASB 1, there’s no limit to the y it that PNB can offer to the public.
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wow new discovery i learn today, thanks bro for this info!

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