ASB Financing-i

 
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Benefits & Features

Features Financing Quantum

  • Based on ASB Units eligibility and subject to a minimum amount of RM10,000 and maximum amount of RM200,000

Payment Period

  • Minimum 1 year
  • Maximum 30 years or up to actual retirement age or 70 years of age at the end of payment period, whichever earlier


Floating Rate Offer

  • With Takaful (BR+1.00%) : 3.77% (effective 12/05/2020)
  • Without Takaful (BR+1.50%) : 4.27% (effective 12/05/2020)

  • Note : Revised BR (effective date 10 July 2020) is 2.52% p.a

Eligibility & Requirements

Eligibility (Fixed Salary Earner)

  • Malaysia citizen individual only
  • 18 years old and above
  • Not a judgment debtor or a bankrupt
  • Employed under approved employer and already in service for :
    • Permanent staff : 6 months and above; or
    • Contract staff : At least 2 years (government and selected private sector only) and remaining tenure of the contract should not be less than 12 months
  • Earned a minimum gross monthly income of :
    • Permanent staff : RM2000.00 or
    • Contract staff : RM3000.00 for government and RM5000.00 for selected Private sector

Eligibility (Non-Fixed Salary Earner)

  • Malaysia citizen individual only
  • 18 years old and above
  • Not a judgment debtor or a bankrupt
  • Minimum of two (2) years in business
  • Business is profitable for the past two (2) years
  • Earned a minimum gross monthly income of RM2000.00 and above
Documents Required

For Fixed Salary Earner:-

  • Photocopy IC, both sides
  • Latest payslip
  • Latest Letter of Confirmation from employer
  • Latest three (3) months Bank Statements of salary crediting account
  • Either last Annual Income Statement (EA/EC/BE/e-BE/B Form) or EPF Statement ; and
  • Any supporting documents, if required

For Non-Fixed Salary Earner:-

  • Photocopy IC, both sides
  • Business Registration
  • Latest three (3) months Current Account Statements
  • Latest income Tax Form (BE/e-BE/J Form) with payment receipt
  • Last two (2) years financial statement ; and
  • Any supporting documents, if required
Fees & Charges
  • Stamp duty – As per Stamp duty Act 1949 (Revised 1989):
    • Principal Agreement – Ad Valorem of 0.5% of financing amount; and
    • Secondary/ Supplementary Agreement – Nominal of RM10 of each document
  • Processing fee – Waived
  • Wakalah Fee – RM50.00 (RM25 of each ABPA and ABSA)
  • Takaful contribution – As per the contribution amount required by the Takaful operators to cover the whole outstanding financing amount in the event of death and TPD of the customer
  • Subscription Fee – RM50.00
Terms & Conditions and Lembaran Maklumat Produk / Product Disclosure Sheet
ASB Financing-i Instalment Table
 
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