ASB loan, worth to get it???
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 Jun 23 2017, 03:27 PM
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#1
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Junior Member
51 posts Joined: Jul 2013 
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Just discovered this thread and realized I've just made a big mistake.
 Made an ASB1 200k loan for 25 years from yellow bank with full takaful last year August. I didn't know about these takaful thingie as all those 'viral' post in fb didn't mention it at all. My mistakes for jumping the bandwagon too soon without making a full research about it. So, a noob question here, is there any way to cancel the takaful? Does the takaful will deduce my total principal amount when I'm gonna terminate the loan after 3 years? |
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Aug 24 2018, 12:21 PM
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#2
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Junior Member
51 posts Joined: Jul 2013
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QUOTE(salimbest83 @ Aug 24 2018, 11:06 AM) so i take it that i should refinance my asb1 rite? Where you got this rate of 4.8% at ASB? The website shows 4.95% for me-> https://www.mybsn.com.my/content.xhtml?contentId=513currently paying 1225 monthly FOUND this BSN MyRinggit ASB BSN MyRinggit ASB 1117.34 4.80% 30 Years -- View More More About This Product For Government and Private Employee (Salary Deduction For All Income Range) Eligibility All qualified ASB investors under the ASNB guidelines. Aged 18 to 65 years old at the end of the loan tenure MoF up to 100% + 5% (including Stamp Duty, Collateral cost, Insurance and will fee). Loan amount will be in multiples of RM1000 and subject to the limit. Fee and Charge Stamp Duty: As per the Stamp Duty Act 1949 (Revised 1989) ASNB Certificate Fee: RM50 per certificate Insurance (Optional) Will Fee (If any): RM371 Late Payment Charge: Monthly installments in Arrears × 1% × Number of Days Overdue / 365  *************************************** Anyway, my monthly payment is rm1256, currently under the interest rate of 5.45% with takaful and so eager to refinance it as I feel I'm getting a loss from here. I've made the monthly payment for almost 3 years. So the question is, should I refinance it as soon as possible or should I wait until the financial year ended? What is the best time to do refinancing? This post has been edited by radenoactive: Aug 24 2018, 12:21 PM |
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Aug 29 2018, 11:43 AM
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#3
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Junior Member
51 posts Joined: Jul 2013
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QUOTE(wild_card_my @ Aug 29 2018, 10:28 AM) To verify this, check out the companies that ASB is invested in (Malaysian blue chips), and compare its performance to the other unit trust funds out there. ASB: consistent, low-positive returns; Unit Trust: inconsistent, a mix of positive and negative returns (based on the NAV/unit) through out the years. I'm not a master in this, but may I know where to check which investment ASB is invested in? Really interested to know. |
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