Wednesday, August 5, 2009

ASB loan



to those of you who already had ASB loan from local banks, just carry on. this is just a friendly advice for my friends who have not done so.

ASB is incorporated by PNB as BUMIPUTERA ONLY trust fund, as an incentive to encourage saving habits to bumis and enculcate investment without exposing them to unnecessary risks.

however, most of malays are lacking the fund to join ASB to reap its full benefit. average return per year is around 7% lately.

this is where banks giving away loans for this fund.

i read through the internet, and i reached to a conclusion that taking loans for asb is not a smart method of investment.

unless you cannot discipline yourself in saving your money.

banks saw this as an opportunity to gain money without exposing themselves to unnecessary risks. offering at BLR -1.25% (actual rate of some bank) this seems attractive. i, however, see this just as another alibaba license. banks dont have to be a malay to invest in asb, rather, they used their customer's name in obtaining asb certs.

and during bad times, BLR can go as high as 12%. instead of you getting the dividend, you are paying the banks for nothing! i know this is the worst case scenario, but no one can predict the future.

it's better you save your money little by little. you will have full control of your finances and who knows, maybe you need extra funds in emergency?

unless you cannot discipline yourself and need to be forced to pay monthly loan, don't take ASB loan because it's just a way banks make free profits with minimal risk.

i hate it when i thought of working for the bank for free. i expect them to pay me, not the other way around.

i know the loan means you have a leverage for your money in the long run. however the return is too small <10% making it unattractive, at all. only make loans where you can be confident that the spread is more than 10%.

well, that's just imho. any comments are welcomed =)

2 comments:

ザ-sylver- S said...

aku denga ade AS1malaysia, tu ape plak bro..

Dr Purva Pius said...

Hello Everybody,
My name is Mrs Sharon Sim. I live in Singapore and i am a happy woman today? and i told my self that any lender that rescue my family from our poor situation, i will refer any person that is looking for loan to him, he gave me happiness to me and my family, i was in need of a loan of S$250,000.00 to start my life all over as i am a single mother with 3 kids I met this honest and GOD fearing man loan lender that help me with a loan of S$250,000.00 SG. Dollar, he is a GOD fearing man, if you are in need of loan and you will pay back the loan please contact him tell him that is Mrs Sharon, that refer you to him. contact Dr Purva Pius,via email:(urgentloan22@gmail.com) Thank you.

BORROWERS APPLICATION DETAILS


1. Name Of Applicant in Full:……..
2. Telephone Numbers:……….
3. Address and Location:…….
4. Amount in request………..
5. Repayment Period:………..
6. Purpose Of Loan………….
7. country…………………
8. phone…………………..
9. occupation………………
10.age/sex…………………
11.Monthly Income…………..
12.Email……………..

Regards.
Managements
Email Kindly Contact: urgentloan22@gmail.com