Saturday, December 25, 2010

ASB Loan Islamic by Maybank

ASB Financing-i

ASB Financing-i is another form of term financing to purchase ASB unit trust based on Shariah principles of Bay’Al-Inah (sales with immediate repurchase)

Valid till 30 June 2011

Eligibility

  • Individuals who are between the ages of 18 and 60 years old
  • Bumiputera

Loan Amount

  • Min loan amount : RM10,000
  • Max loan amount : Up to RM400,000 per borrower, at any one time including the balance outstanding of the existing ASB loans (if any), or up to the maximum investment amount allowed by ASNB, whichever lower

Margin of Advance

For loan amount up to RM200,000

  • Up to 100% of nominal value of ASB units
  • Up to 105%, inclusive of the GASBRTT

For loan amount above RM200,000, at any one time

  • Up to 95% of nominal value of ASB units
  • Up to 100%, inclusive of the GASBRTT

Loan Tenure

  • Up to 25 years OR
  • Up to age 60, whichever is earlier

Pricing

Selling Price Rate/Ceiling Rate fixed at

  • BLR + 4.0% or 10%, whichever is higher
    * Competitive effective profit rates as per ASB Loan Conventional interest rates, provided it should not exceed the fixed selling price rate

Pricing

  • Loan below 30,000
    BLR - 1.35% (1st 3 years)
    BLR - 1.30% (thereafter)
  • Loan RM30,000 & above
    BLR - 1.65% (throughout loan tenure)

View the monthly instalment repayment schedule

Repayment Frequency

  • Monthly

Repayment Option

  • Single installment only

Mode of Installment Payment

  • Standing Instruction (SI)

ASB Income Distribution & Bonus Earned

  • Automatically credited into the respective ASB unit holder's account
  • ASB financial year ends December 31

Required Documents

  • New ASB customers
    1. Application form
    2. Photocopy I/C
    3. Photocopy of latest 3 months pay slip (only for financing above RM50,000)

  • Existing ASB unitholder customers
    1. Application form
    2. Photocopy I/C
    3. Photocopy of ASB passbook

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