Take out loan for ASB
admin August 5th, 2008
Afiq and I have decided to take out loan as our savings in ASB - following the advices from both Ayah and Mama. We applied for a loan from Maybank.
Wanna know how this works?
Firstly, to make this method works, you have to have upfront money that can be used as your “modal”. Let say if you plan to take out a RM20k loan for 10 years, make sure you have the monthly installments (RM217/month) for one whole year ready, which is about RM2604.
Let me show you how this is profitable:
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Now, the average deviden that you will get from ASB is about 8%, which is about RM1600/year.
For the first year, you will have to pay RM2604 out of your own money.
Then, you will only use the dividen (RM1600) to pay the loan plus your own RM1004 (RM83.68/month)
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