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 ASB loan, worth to get it???

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junclj
post Jan 25 2017, 11:59 PM

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Hi, I just want to know about the ASB loan. Where will my ASB loan money put after 20 years? In my bank account or ASB account?

I am now borrowing RM199k from RHB Bank for 20 years. After 20 years, that RM199k is mine. This mean, RM199k loan at RHB 4.85% is RM1,297/month. In this RM1,297/mth, RM829.17 is my own money, RM467.83 is belongs to bank interest.

So my future value should be RM311k. So in total, after 20 years, the RM199k is mine but the RM112k is bank interest.

I want to know how is that RM199k works in my ASB since my book does not show that RM199k but just show my dividend and bonus gain. Will that RM199k remain in my RHB bank account after 20 years?
junclj
post Dec 20 2017, 05:22 PM

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hi guys, I need you guys to confirm about whether my calculation is correct?
I have both ASB and ASB2 but I can't touch my ASB because is under loan basis and already reached to 200k maximum limit.

So I have decide to put the rest money to ASB2. I'm deciding to transfer fund to ASB2 as saving basis then withdraw RM6,000 once for every two years to buy a new iPhone.

My saving plan is save RM2,000 in Feb, Oct and Dec for every year. For the year I decide to buy iPhone, I will not save RM2,000 in Oct and Dec but only withdraw RM6,000 out from my ASB2 to buy new iPhone. I will only save RM2,000 once at Feb in next year after I was purchased my new iPhone.

I was started my plan this year and deciding to save my money until October 2020 to begin my iPhone plan (time before new iPhone launch in Malaysia).

Currently I am using iPhone 7 Plus which was bought at last year and I may not decide to replace new iPhone at the moment but only to wait until year 2020.

Anybody can check whether my calculation is correct? The dividend rate is based on my estimation.

https://drive.google.com/open?id=1UzP0zJA40...k37RkhFgD31ii-z

This post has been edited by junclj: Dec 20 2017, 05:25 PM
junclj
post Dec 20 2017, 09:09 PM

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QUOTE(Musikl @ Dec 20 2017, 05:54 PM)
why not go for installment using credit card with 0% interest and leave the money in asb?
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because i want to put more money to earn dividend first. In order to use that dividend to cover up my burden to buy a new phone.
junclj
post Dec 22 2017, 04:26 PM

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QUOTE(shadow_walker @ Dec 22 2017, 11:54 AM)
ASB dividend announced edi...basically 7.25% + RM 100..haha
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may i know the 10,000 units 1 sen bonus is RM100 or RM10? because bonus is calculated based on 120 months (10 years) basis. Only dividend is calculated on 12 months (yearly) basis. Therefore, the higher dividend we get the more $$ we earn but bonus have to look for long term, at least for 10 years later only can gain high bonus because it is based on cumulative.

This post has been edited by junclj: Dec 22 2017, 05:03 PM
junclj
post Dec 22 2017, 04:40 PM

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QUOTE(shadow_walker @ Dec 22 2017, 02:56 PM)
20,000 x 7.25% =rm 1,450    coz u got 20k from jan 17. bonus now calculated lowest balanace average for the year

fisrt 10k x 1%. so u get rm100.

total dividen is rm 1550 lor.
for 2nd question u have to calculate each month balance everytime u add up the rm500 coz its pro rated.

ayam cannot calculate coz now layan hnnngghhhh at kopitiam
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dividend 20,000 x 0.07 = RM1,400
bonus 20,000/10 x 0.0025 = 5, then + last year cumulative total bonus, lets say bonus brought forward from last is 10. So in total RM15
special bonus first 10k = 10,000/10 x 0.01 = RM10

So, finally you will get RM1,425

this is the calculation, hope i won't get wrong about the special bonus 1sen for first 10,000 units
https://drive.google.com/open?id=0B73zOYexH...MnQwZUlKRXgxZW8

This post has been edited by junclj: Dec 22 2017, 05:18 PM
junclj
post Jan 2 2018, 06:11 PM

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QUOTE(OverweightCrab @ Dec 30 2017, 10:30 AM)
Is the ASB loan and ASB2 loan have same interest rate?
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Usually ASB is higher than ASB2 but you can apply extra ASB2 to invest if ASB already reached maximum 200k investment.
junclj
post Jan 3 2018, 01:13 PM

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QUOTE(uk9089 @ Jan 3 2018, 10:23 AM)
How much would i save if i change my current asb loan 5% to ambank asb 4.75% loan?

My current loan left about RM190k (Which includes Takaful Insurance RM8k).
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The exact difference for 200k between 5% and 4.75% is just RM27.50.
You can use excel to calculate, just use the formula below:

=pmt(rate/12,months,PV)

rate is 4.75% & 5%
months is the period of your loan, eg 240 months for 20 years.
PV is the amount that your personal loan, eg 200,000

for example,
=pmt(0.0475/12,240,200000)
=1292.45

=pmt(0.05/12,240,200000)
=1319.91


junclj
post Jan 5 2018, 09:50 AM

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may i know when will payout the asb 1% special bonus?
junclj
post Apr 3 2018, 02:15 PM

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QUOTE(eastwest @ Apr 3 2018, 09:30 AM)
guys, i'm not clear how bank determine asb dividend as an income.

let say I have 100k asbf, with 7% will get 7k dividend.
1) so to qualify as income, the dividend must stay inside asb account?
2) will the bank look into amount available asb saving?
3) if I take out the dividend (either a portion or all of it), will it still be considered as income?

thanks.
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Hi, you can check my ASB calculations. However, ASB was changed their bonus calculation from 120mths to 12mths now. So, I did manage to edit the bonus calculation method back to 12mths in my excel.

ASB Loan

1) so to qualify as income, the dividend must stay inside asb account?
Dividend must stay inside asb account because it is cumulative. You only begin to earn back your loss at 5th year. For best results, just put as long as you can. Put for 20-30 years as your pension.

2) will the bank look into amount available asb saving?
If you loan only 100k, then you still have another available 100k for saving. So you have to pay loan to bank, at the same time you also can buy another 100k units through myasnb portal. You can check your ASB financial report to confirm how much available units you still can buy. I not sure how does bank works but for mine, bank is just treated like personal loan. I not sure what will bank do if we not able to pay the loan to bank since mine is just autodebit from my bank account every month.


3) if I take out the dividend (either a portion or all of it), will it still be considered as income?
Probably you will get loss because of the loan that you were paid per month is higher than the average monthly dividend that you earn. Dividend is profitable only based on cumulative, you can check my excel to understand how does cumulative works. I'm hard to explain it out. ASB loan basis is only profitable for long term investment. After you check my excel, you will understand why you can't earn profit if you keep take out your dividend to repay your loan. If you keep withdraw the dividend out every year, probably RM200k with 20 years of loan, you only can get RM170k and loss RM30k after offset the asb dividend with your RM200k loan interest. If you can afford to pay the loan, just pay with your own money but please don't withdraw the dividend from ASB. You can check my excel, after 20 years you may earn RM600k~700k profit (after deduct RM200K loan and RM100k+ interest).


This post has been edited by junclj: Apr 3 2018, 03:53 PM
junclj
post Apr 5 2018, 04:09 PM

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QUOTE(haziqnet @ Apr 5 2018, 03:59 PM)
I fix my statement from post#3136

I just clarify from my upper officer regarding asb dividend as an income.

For those who just make asb financing (not received dividend yet) bank will calculate the income based on the future dividend as an income. At cimb average dividend will be at 7%. Therefore if ur asbf is 100k then bank will take 100k x 7% as future dividend income.

While for those who already received the dividend, bank will directly take the dividend as an income.

The more dividend compounding the more bank will take it as your income.

#eastwest
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Hi, I already confirmed our asb dividend is based on cumulative because i've been loan with ASB since few years ago and calculate it with my excel and 100% accurate.

I am able to calculate out my asb dividend accurately (exactly the same amount) before I go to update my asb passbook in the bank at last time (last time don't have myasnb portal).

The meaning of cumulative is, year 1 RM100k*1.07= RM107k, year 2, RM107k*1.07=RM114,490, year 3, RM114,490*1.07=RM122,504.30

This post has been edited by junclj: Apr 5 2018, 04:11 PM
junclj
post May 5 2018, 12:46 PM

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May I know how do I withdraw money from ASB/ASB2 now? Since ASNB is no longer using passbook and all bank seems like do not provide withdrawal slips. I also can't withdraw directly from myASNB portal.
junclj
post Aug 21 2018, 03:38 PM

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QUOTE(samtbt38 @ Aug 16 2018, 10:54 PM)
hi sifus, sorry not sure if this is the correct place to ask,

i have 60k saving, and i can save 7.5k monthly, but until august next year i need to use all of it,

what is the best way to invest the money?

i'm thinking to put the 60k in asb,

then take 140k asb loan but terminate after 1 year. or take fixed deposit better? currently cimb has promo 4.3% pa. which one give more return?
*
Finally I did it for the saving basis.
You may calculate with this excel template.
https://drive.google.com/open?id=0B73zOYexH...MnQwZUlKRXgxZW8

https://drive.google.com/open?id=1UzP0zJA40...k37RkhFgD31ii-z

If you loan for 1 year only for 4.3%, RM140k, which mean you need to pay RM11,941 per month. However, ASB is only final at 31 December 2018 and receive dividend at 1st January 2019.
If you put until August 2019, start from now. You cannot get anything. You money only start calculate from next month, so start from Sept 2018 until Dec 2018 only 4 months. You will get nothing from Jan - Aug 2019 unless you put your money until Jan 2020 then only take them out together with dividend. Usually dividend for 200k is around RM14k per year. If you loan RM140k+60k cash now for 1 year, your loan have to pay in sum of RM143,292 for one year. Let's say your dividend only calculated by 4 months, probably you only get RM4.9k dividend at 1st Jan 2019. Final gain is RM1.6k after deduct your loan interest of RM3,292.
However, you have continue to pay for your loan until next year August. For 11,941/mth. So do you think RM1.6k profit is worth for your invest?

If you use the saving basis, 60k+7.5K saving at August 2018, then sept - dec 2018 7.5k/mth. Let's say dividend is 6.75%, so you will get around RM1.7k dividend. So now, you should don't waste your time to keep your money in ASB account. Better just withdraw out all the money after January 2019 because you was said that, you need to use all of it at August next year. You cannot get dividend from Jan - Aug 2019 unless you keep your money until January 2020.

Always use my excel template to calculate, my excel will give you the best answer.

This post has been edited by junclj: Aug 21 2018, 04:25 PM
junclj
post Jan 2 2019, 08:51 AM

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myasnb is traffic jam now but I was managed to login to check my new balance. "503 Service Temporarily Unavailable", "502 Bad Gateway" again now. Website down again.
junclj
post Jan 2 2019, 01:47 PM

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4.85% is only for 30 years but mine is 5.1% for 20 years.

if loan 4.85% for 30 years, I have to pay the total of RM380,160 in 30 years. Loan RM200k but paid RM380,160, the bank was earned me interest of RM180,160 in 30 years.

but mine now is 5.1% slightly higher but I just loan for 20 years, I just need to pay the total of RM319,440 in 20 years. After 20 years then I will senang-senang to receive my dividend. Loan 200k but just paid RM319,440. The bank was earned me interest of RM119,440 in 20 years.

you can calculate with excel by using these formula
4.85% for 360 months
monthly
=ROUNDUP(PMT(0.0485/12,360,200000),0)
total 30 years
=360*(ROUNDUP(PMT(0.0485/12,360,200000),0))


5.1% for 240 months
monthly
=ROUNDUP(PMT(0.051/12,240,200000),0)
total 20 years
=240*(ROUNDUP(PMT(0.051/12,240,200000),0))
junclj
post Jan 2 2019, 02:19 PM

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QUOTE(buggie @ Jan 2 2019, 02:06 PM)
If I take 4.85% tenure 30 years but terminate after 20 years, how much the bank make from me la brother?
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not sure but I just divide RM200k by 360 mth to get RM555.56/mth. If 20 years then RM133,333.34

=240*(ROUNDUP(PMT(0.0485/12,360,200000),0))
will get RM253,440

You was paid RM253,440 in 20 years. So bank was earned you RM120,106.66 but you only can get RM133,333.34 cash after terminate.
junclj
post Jan 3 2019, 09:52 AM

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QUOTE(buggie @ Jan 2 2019, 07:18 PM)
You're still missing the point. For this asbf, I would always wanna be at max loan tenure. Settling the loan is never on the agenda. How much the bank makes from me is irrelevant. Its about how much ROI I make. To get max ROI is keeping your repayments low. And getting back amortised value.

I'm too lazy to give figures... I've done so many times in my previous posts before haziq and wild card came on the scene. And when these two workhorses came on, they gave even more detailed calculations than I could ever give.

My advice, just read the posts. In the end, if you're still unconvinced, go with your gut and trust your calculations. As long you're still making money that's fine.

But if you wanna max your returns on investment, however you slice it... Max loan tenure is the way to go

As a real life example, I've just reached 7 figures, and I've still 25-27 years on the loans to repay...
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OK, its up to you. As I say everything were offended you. For me, if possible, I got RM200k cash, I won't choose to loan from bank. Just put RM200k cash directly, it is the best and most return because loan from bank we need at least 5 years to get return after deducted to bank interest. That's why loan in shortest term is the best, the shorter term we loan, the less interest that we paid to bank. So should get certificate and settle earlier then enjoy my loan free life with my RM200k and compounded dividends in my ASB account for the following years.

It's not so difficult to calculate actually as I like to calculate everything. I was studied Accounting & Finance before as a Bachelor of Commerce.
That's why I say not worth to extend your loan to maximum 30 years, interest is too high. I'm not talking about interest rate, of course interest rate is low but you need to first calculate it first to know how much the "Future Value" you need to pay in total. Just either take out a Financial Calculator or use Excel to calculate your future value. Frankly speaking, bank also need to earn your money. If not why the bank can get so rich and every year earn profits? You can see everyday got so many salesmen and saleswomen hard sales ASB/ASB2 loan, bank need these kinds of income. They need to earn our money.

I am speaking out my mind base on a ASB loan consumer but not a salesman. Salesman of course is trying to convince us and praise for how best of their ASB loan got what kind of promotions lah, got what kind of benefits lah.. damn, who care of these things?

This post has been edited by junclj: Jan 3 2019, 10:14 AM
junclj
post Jan 3 2019, 11:05 AM

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QUOTE(mohamadf @ Jan 3 2019, 10:15 AM)
For me i dont care how much bank make as long as i am in benefit also. Hopefully will reach 7-digit in 13 years and follow bro buggie's footstep
you can calculate your estimation with my excel file but we all don't know what is the future dividend rate and bonus rate.
All these rates are based on estimation, you just need to change the rates every years after PNB do announcement.

https://mega.nz/#F!wxwgEKJR!DNA6GoEBFrkXZz8QyF6NBQ

This post has been edited by junclj: Jan 3 2019, 11:08 AM
junclj
post Feb 12 2019, 05:06 PM

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hi, I was just noticed that EPF was now allowing members to take out 30% from account 1 to invest the money into their ASB2. I am deciding to apply this offer later after EPF announced 2018 dividend.

Did anybody has tried this offer? I think put money into ASB2 is better than put in EPF because ASB2 did offer higher dividend rate.

This post has been edited by junclj: Feb 12 2019, 05:14 PM
junclj
post Feb 12 2019, 05:19 PM

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QUOTE(ichako @ Feb 12 2019, 09:08 AM)
Anyway I've been wondering, ASB/ ASB2 has a max quota of 200k.
So if someone take up 200k asb loan, how do they keep the dividend compounding? Or they can't?
Edit: Or is it because the loan is invested as cert, so the quota is not reached until the dividend (cash) in the account reaches 200k?  hmm.gif
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it is separated, 200k is your base and dividend is compounded yearly. Assume that you have 200k in your account and you are now age 30, my estimation is RM1m total (base+compounded dividend) after the age of 55 if you able to keep your asb accounts untouched.

This post has been edited by junclj: Feb 12 2019, 06:27 PM
junclj
post Mar 26 2019, 12:09 PM

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QUOTE(mt24 @ Mar 24 2019, 11:27 AM)
Headache today.
ASB already full
Asb2 not full but can't top up at all.. Got message 'insufficient funds'

Where do u guys put money? As Didik?
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wait for next month, ASB2 is always like that for every years when 1st April is near. Wait for announce dividend.

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