After 3 years of servicing ABS loan, i terminate it.Why? Because I dont like to share my hard earned money with bank

If i do saving in asb by my own, i dont hv to bother about blr..

Entrepuneur is different.They need capital to start biz.

Banks happy to have people like u 8-)

Something like that kut..u scratch their back, they scratch your back.
More or less

But its just being of me..hate to pay interest to bank.enough with car loan & house loan where i cant pay cash,so need to borrow.but to invest in asb, prefer with my own money...imho.

Anyway, its good to hv thread like this.ppl can gather more info based on experiences.

Who is on the earth to take ASB loan 200k?????

Hahahaha...to pay loan for ASB 200k? other needed how? house? just rent till your ASB loan settle? die laaa...

For saving or investment in amanah saham, it is better if we do by our own...if emergency, we can withdraw easily.if pay loan, its burnt lahhhh

I still remember when I terminate my Maybank ASB loan, the officer push me to upgrade to 50k loan (current loan is 25k)...she said "untung la u nanti, habis tenure u sudah ada 50k maaaa..manyak wooo"..then i replied "50k sekarang dengan 50k 30 tahun depan lain value maaa.kena kira inflasi jugakkk"...then, she just smile and cannot reply back..hehehee..why u are willing to share profit of asb with bank????

But i still respect to other who want to get this loan.i just voiced out my opinon.For saving or investment, better do by our own monies. i.e asb, silver, gold, stock, unit trust..just spare your loan facilites to those thing that cannot buy cash i.e car, house, land...

Just my 1/4 oz gold coin!

This post has been edited by potenza10: Nov 11 2011, 11:48 AM

My salaray is too low..have to spare loan facilities for car and house and 1 cc...

Its depends on person itself as i can see it doesnt suit my needs. If emergency happens, i can withdraw my asb saving or pawn my gold or sell my silver bar..its easy to convert to cash.but different if u servicing loan for ASB..u cannot withdraw a bit from it and still need to continue pay the loan.

ASB loan

1st year, use own money to pay loan, end of year get dividend.let say 8k.
2nd year, use 8k to pay loan..

Own

1st year saving with same amount with loan, end of year have 8k CASH in ASB book + dividend.
2nd year, continue saving.


When emergency struck in mid of 2nd year and u need 10k...which one is better?????

Loan - use dividend as emergency, then fork out your money continue pay loan
Cash - lalaalalalalalalalalaa...smile of the way looking your ASB passbook..


GET IT DUDE?

Maybe those in early 20's who dont come across to buy house can try this loan la..when u start to find properties (condos in klang valley now hard to find below 400k) then u know how to evaluate your credit situation.

Great!

If u save 1k per month with dividend 600 end year, you will get 12600 and its TOTALLY yours!

If take loan, pay 1k per month and get dividend 10k end year, what is TOTALLY yours? 2nd year still short 2k lah if use dividend along still not enough to cover?

Aiyahhh..just see the diff in term of end year dividend only.

---

Added on November 11, 2011, 3:07 pmLet put it this way lah

bank got 1mil to loan out and want to take advantage of asb dividend.so what they do? They offer loan facilties to BUMIPUTERA to take the loan.so,what is the summary? Banks will get benefit of the dividend for whole tenure when the 'smarters' group say 2nd year onwards just use the dividend to pay monthly loan and put a hope when end of loan tenure, they will get total amount of monies with inflation factor 3% per year...hahahahaha..

This post has been edited by potenza10: Nov 11 2011, 03:07 PM

Alamak haiiii..still dont get it ka? What u pay is more what u will get...u fork out more than 100k for 30yrs to get 100k fiat money in 30yrs later meanwhile banks enjoy the fruitness dividend of asb.

Dont talk about robbery la.if u save it in your asb account, still can be robbed ka?

Talking of fiat money, us dollar lost its value nearly 90% since 1971 thanks to President Nixon moves.Google it.

Do u have any idea 30yrs back, what is the living cost comparing nowadays?

This post has been edited by potenza10: Nov 11 2011, 04:55 PM

Thats why bank is the winner.the purpose of asb is to give dividend to their INVESTOR not to bank.bank bind u with the loan to get the dividend.dont shout too loud la about 100k in 30yrs later.pity!

Please remember asb tagline..'sikit sikit lama lama jadi bukit'..anyway, good luck!

This post has been edited by potenza10: Nov 11 2011, 05:37 PM

Opsss..there another 16k that u have to topup there, bursalchemy..

U still short of dividend to cover your loan installment, right?

Investment is to minimise the risk. By loan, you will take a risk of blr changes. Dont expect for whole 20yrs the blr will be same. And by looking history of dividend pay out by asb since 1990, first 10yrs is much higher than last 10yrs. Dividend amount declining meanwhile inflation keep on coming.

And how confident u just pay 12k and in 20yrs get 100k when there is the risk of shortage of dividend to cover installment IF blr go up?

There is no guarantee dude! Its better self saving.

This post has been edited by potenza10: Nov 11 2011, 07:20 PM

More wealth? Can u calculate loan asb vs saving by own until end of 20yrs, which one is more? Hahahaha...simple calculation.

Kepada semua ahli forum yang dihormati.

Izinkan saya berkongsi hasil pengiraan saya yang tidak mempunyai latarbelakang ekonomi.

Mari kita ambil contoh kes pinjaman asb selama 30thn berjumlah 100k. Kadar inflasi negara kita yang dicintai ialah 3% setahun, jadinya jumlah terkumpul selama 30thn ialah 90%! Ini bermakna, nilai wang 100k pada 30thn ke hadapan adalah bersamaan dengan nilai jumlah wang 10k pada tahun ini. Oleh itu, dengan bermodalkan 12k duit sendiri pada tahun pertama pinjaman asb dan mengharapkan wang 100k pada 30thn kehadapan yang sebenarnya hanya bernilai 10k pada tahun ini adalah amat tidak berbaloi.

Ini belum mengambil kira risiko perubahan pada kadar BLR dan juga kadar pulangan dividen asb yang tidak dijanjikan akan tetap pada 7% selama 30thn. Jika digoogle sejarah pembayaran dividen asb sejak ianya dilancarkan pada 1990, pulangan pada 10tahun terakhir adalah berkurangan jika dibandingkan pada 10tahun terawal.

Sekian.

This post has been edited by potenza10: Nov 12 2011, 09:44 PM