Below information on ASB Loan from CIMB I obtained from their website here. I'll be posting a detailed calculations and analysis of viability of using these loans for ASB. However, preliminary calculation of mine shows that you can profit from ASB loan provided that the loan is for a 10-year tenure. I'll show you my calculations in-depth in the next postings.
CIMB ASB Loan
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.
Individuals aged 18 years and above.
Malaysian or permanent resident.
Features and Benefits
Minimum loan amount of RM10,000.
High financing margin.
Low interest rates.
Flexible loan tenures.
Low processing fees.
Fees and Charges
Click for details on ASB loan fees and charges.
Documentation Fee - ASB Loan / Secured Overdraft against ASNB Products RM50
All Letter of Offer - Stamping RM10
i) ASNB Charges - Purchase and Lien Certificate for ASB Loan RM50
ii) ASNB Charges - Lien Certificate for Secured Overdraft against ASNB Products RM100
ASNB Charges - Transfer from Book to Certificate RM10
Mode of payments
You can make payments via online banking, or
Pay your monthly installments at any CIMB Bank branch, ATM and Cash Deposit Machine (CDM), or
Set up automatic payments via standing instruction.