If you have fundamental questions like:
- What is ASB Financing (apa itu)?
- Why ASB Financing?
- And how ASB Loan or ASB Financing works?
(Apa itu ASB Financing? Apasal buat ASB Financing? Bagaimana diorang buat ASB Financing? )
Or even when you have more advanced questions like:
- How to calculate ASB Financing to get 6 figures profit?
- Or, which ASB loan is the best?
- Is ASB Loan worth it?
- ASB loan good or bad (kebaikan dan keburukan)?
(Cam mana kira ASB Financing dapat untung 6 angka? ASB loan mana paling best? Pinjaman ASB berbaloi atau tidak)
Then you’ve come to the right page.
Because this ASB Financing Guide is evergreen relevant in 2019, 2020 and beyond, whether you are taking ASB loan 30k, 50k, 100k or 200k.
Furthermore, if you scroll way below, you will also see a real example of an ASB account making 6 figures in net profit (keuntungan pelaburan 6 angka, caya la, jangan main main)
In short, this is your ultimate ASB financing game plan.
What is ASB financing?
ASB financing is basically borrowing an initial capital from banks to invest into Amanah Saham Bumiputera, then use the returns generated to pay down the bank borrowings while keeping the balance.
How to apply ASB financing
You can do it online via your online banking with any banks that offer ASB loans – both conventional or Islamic, such as Maybank, CIMB, BSN, Affin Bank, Ambank.
How to calculate ASB financing
You basically can use an amortization table or just use a ready-made ASB financing calculator available here – https://link.howtofinancemoney.com/asb-financing-calculator
The What, Why and How of ASB Financing loan is explained in detail below. Just watch the video lesson below (boleh buat kiraan sendiri).
A thorough ASB financing review, so to speak.
Highlights of ASB Investment either using ASB Loan or ASB Saving
ASB loans are basic term loans, and interest charged on ASB loans is calculated using the reducing balance method (similar to those used by Housing Loans and Fixed Deposits). Most ASB loans today use floating interest rates, so interest rates will change according to Base Rate.
It is basically borrowing an initial capital from banks to invest into Amanah Saham Bumiputera, then use the returns generated to pay down the bank borrowings while keeping the balance.
Much like mortgage insurances, customers can optionally choose to cover their ASB loans with insurance / Takaful that is financed by the banks
- Flexible repayment duration up to 30 years (or age 65)
- Up to 100% financing of RM200,000
- For ASB Islamic financing, there is no lock-in period.
- Extra monthly installments treated as advance payment, instead of principal reducing payment, therefore it does not reduce the total ASB loan interest charged.
How to Apply ASB Financing?
You can do it online via your online banking with any bank that offers ASB loans – both conventional or Islamic.
How to Apply ASB Financing?
Check Monthly Saving
Determine how much of your income is left after expenses, not to mention, check your CCRIS record to ensure it is in good standing
Compute your Debt Service Ratio by dividing the total sum of all your monthly debt repayment with your net income (after tax and EPF deductions) to ensure you are not over-stretching your budget
Check ASB Loan Eligibility
Use an ASB Financing Calculator (example here) to estimate how much you can borrow for maximum loan duration whereby the monthly repayment should not exceed your monthly savings.
Finalize ASB Loan Offer
Get the actual ASB loan interest rate from the bank to accurately know your final projected ASB loan monthly repayment in step 3.
What do you need to apply ASB Loan? (Syarat Pinjaman ASB)
Unbelievably easy. You just need to be:
- A Malaysian between the age of 18 and 65 years old at the end of financing tenure
- Have Bumiputera status
Submission needs a photocopy of Identity Card (I/C) & proof of income (you must be able to afford the monthly repayments of your ASB loan la)
- Latest B/BE statement
- Latest one month payslip (for fixed salary) or three months payslip (for variable income)
- Current/Savings Account statement showing salary crediting
- Latest B/BE statement
- Latest six months payslip
- Latest six months Current Account statement (registered under the Business)
Useful Supporting documents for ASB loan application:
- CTOS/CCRIS report
- Fixed deposit certs
- Rental income proof
- Unit trusts statements
- Tabung Haji statements
How to Withdraw ASB Online
Ever since Aug 2020, any ASB investor can do online withdrawal of ASNB units via the myASNB portal and myASNB mobile app (available on Google Play and App Store). Some pointers you want to know:
- You can only withdraw up to 3 times in a month
- Minimum withdrawal amount is RM 100 per transaction
- Only can withdraw no more than RM 500 in a month
Steps to perform an online withdrawal of ASNB units
- Ensure your active phone number is registered correctly within ASNB online portal. If it isn’t, then you need to do this in person at ASNB branches or ASNB agents (Maybank, Maybank Islamic, CIMB Bank, RHB Bank, Pos Malaysia, Affin Bank, Bank Simpanan Nasional, Alliance Bank, AmBank and AmBank Islamic).
- Otherwise, you can skip #1. Just proceed to register & activate yourself as ASNB online portal user, if you have not already.
- Any active ASNB user can do online withdrawal. Watch the videos below on how to do these steps.
ASB Loan Frequently-Asked-Question
Q: I need an ASB loan early termination (full early settlement) calculator
A: Here’s an ASB Financing calculator aka ASB Loan surrender calculator.
Note: Comment below ‘I want it’ to get a RM 30 off discount code (we will email to you so make sure you comment using your real email)
Q: How to terminate ASB Loan?
A: Check with your bank directly
Q: Which is the best bank for ASB Financing?
A: The one that offers the lowest effective ASB Financing rate. Any ASB loan with the lowest interest rate will make you earn your 6 figure return faster in no time.
Q: Where can I get details on ASB Loan from Maybank?
A: Here you go
Q: Where can I get info on ASB Loan from CIMB?
A: Here you go
Q: How can I get more info on ASB loan from RHB?
A: Click here
Q: Can I get ASB loan from other banks like XXX?
A: Yes, you can also get it from Affin Bank, Am Bank, Alliance Bank, Bank Muamalat, Hong Leong Bank and BSN. Seems like Public Bank and Bank Islam do not offer any ASB loan, but it may change from time to time. Always check the latest update over here
Q: How to do ASB financing comparison quickly?
A: Use the ASB financing comparison table below (for illustration only) untuk ambik asb financing loan terbaik/paling bagus. This will help you decide which ASB loan is worth it by virtue of which bank is the best.
Briefly, you should always choose an ASB loan with the lowest interest rate and lock-in period, always.
ASB Financing Comparison Table
|Bank||Monthly payment (RM)||Interest Rate (%)||Lock-in period (years)|
|ASB loan Ambank||978||4.35%||0|
|ASB loan Affin bank||969||4.30%||1|
|ASB loan BSN||921||3.85%||0|
|ASB loan Bank Muamalat||935||3.95||2|
|ASB loan CIMB||949||4.05||0|
|ASB loan Maybank||954||4.20%||0|
|ASB loan RHB||958||4.25%||2|
|ASB loan Hong Leong Islamic Bank||938||4.15%||2|
Alternatively, use an aggregator platform like Loanstreet to compare up to date ASB loan packages
Q: ASB Financing CIMB vs Maybank – which one better? (Pinjaman ASB Maybank atau CIMB?)
Q: How do I know how much profit (untung) I will get after X number of years investing in ASB using ASB loan / ASB Financing?
A: You want to watch the video above, then if you need a done-for-you ASB Financial Calculator, complete with the ASB Loan schedule (aka ASB financing schedule or table, ‘jadual pinjaman ASB’), click on the button below.
Q: ASB loan vs fixed deposit – which one better?
A: You can watch this great explanation to understand more.
Q: How to invest in ASB if I am not eligible / not quota / quota finished?
A: You can solve this in a creative way, watch this to know how some people are getting around this issue.
Q: ASB loan vs unit trust (saham amanah) – which one better?
A: Let me explain why this is NOT an apple to apple comparison although ASB is actually unit trust. Firstly, ASB has never gone into negative return territory, like ever while any retail unit trust can swing to a loss.
However, ASB profit (return) is somehow ‘capped’ between 5% to 8% per year (high consistency, low risk with high ASB dividend returns and provides additional bonuses to the investors), while equity unit trust can give double-digit investment returns. Secondly, you start with zero capital and on top of that, uses leverage (banks lend money to you) when you use ASB financing to invest in Amanah Saham, so rightfully, ASB returns will be better & more consistent versus investing in a normal unit trust without borrowing any money as initial investment capital.
Q: ASB loan vs Public Mutual?
A: Refer to answer for – ‘Q: ASB loan vs unit trust – which one better?’
Q: ASB Financing vs ASB Saving?
A: Refer to the video below to understand ASB Loan vs Personal Saving
You will also be able to learn how to estimate your ASB loan or financing surrender value or how to do ASB financing rolling.
Q: ASB Loan atau simpan sendiri / ASB loan atau simpan sendiri / ASB loan vs simpan sendiri?
A: Still refer to the video above for a detailed explanation.
Q: ASB financing vs ASB loan?
A: Benda yang sama je. Terms often using interchangeably.