Earning Easy Money II: CIMB ASB Loan

CIMB is more being more straightforward in attracting people to invest in this easy money scheme, which is true provided the dividend of ASB remains attractive enough and higher than the BLR. Here is the link.

Use this term loan facility to buy ASB units. While you are servicing the loan, you'll be earning the annual dividends and bonuses from your ASB investment which you can use to partly pay for the subsequent year loan repayments. It's an affordable, convenient and smart way to make your money work harder.

Features and benefits:
	Maximum loan amount of up to RM200,000.
	High financing margin.
	Low interest rates.
	Flexible loan tenures.
	Low handling fees.
	Insurance coverage. And CIMB's ASB loan offer comes in 2 packages. Package 2 is attractive if you expect the BLR to increase in the 2 years period, since you can locked in the BLR rate.

Package 1: BLR - 1.65% p.a. throughout the loan tenure

Package 2: 4.65% p.a. fixed for the first 2 years, BLR - 1.65% p.a. thereafter

Documentation Fee: RM100

Letter of Offer: RM10

Letter of Guarantee & Indemnity - Stamping : RM10 

And here are the fees associated with the ASB loan. I could not find it for Maybank's though. Quite cheap entry fees :)

My personal thought and idea for those whom are interested to pursue this low risk high gain scheme is to negotiate for a better financing rates other than what is stated in the fixed packages. The reason is that you will never know that you might be given a better "special" rate because the competition is strong now among local banks to secure market share.

"Ask and you will receive, seek and you will find, knock and the door will open"

The repayment table is similar to Maybank's aka repayment is based on reducing loans.

Here is the table again.

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Earning Easy Money : Maybank ASB Loan

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