For your ASB returns, there are two parts (and consequently two calculations) that you need to be aware of.
Suppose you have RM10,000 at the beginning of the month, but withdraw RM3,000. For the month, your dividend will be based on the RM7,000 balance that you had at the beginning of the month.
In this example, you begin the month with $10,000 and subsequently invest an additional 2,000 Malaysian Ringgit (RM2,000). Your monthly dividend will be calculated using the RM10,000 minimum balance for the month.
In order to calculate your annual dividend, multiply the 12-month dividend formula (January 2017 December 2017) by 12.
When calculating ASB bonuses, the last 10 years of ASB investment is taken into account.
As an example, you began investing in ASB five years ago. You’ll only get half of the ASB bonus percentage you’re entitled to. A full ASB bonus percentage is only available if you’ve been invested for the past 10 years.
It is the amount of the bonuses you received during the past 10 years (120 months) that you will earn each year.
Time your withdrawal so it occurs during the entire month of the year. If you have the money available, you’ll want to make the investment before the new month begins.
For example, you’ll need a little extra money this month because of the holidays. As soon as possible after the first of the month, withdraw the amount you need. Make a deposit before the beginning of the following month.
ASB big sum may be a better option if you have money laying around that you’d like to invest instead of investing it in monthly installments (aka dollar cost averaging).
How does ASB financing work?
The declining balance method is used to calculate interest on ASB loans, which are basic term loans (similar to those used by Housing Loans and Fixed Deposits). Floating interest rates are now the norm for most ASB loans, which means that interest rates will fluctuate in accordance with the Base Rate.
It’s basically borrowing money from banks to invest in Amanah Saham Bumiputera, and then using the profits to pay back the banks while keeping the balance.
Similarly to mortgage insurance, clients can decide to have their ASB loans insured / subsidized by the banks through Takaful
- ASB loan interest charges are not reduced by additional monthly payments since they are viewed as an advance payment rather than a reduction in principal.
How much can withdraw from ASB?
You can only withdraw RM500 a month (since they want to encourage unitholders to keep the investment longer and only remove when necessary).
EXCEPT for the ASNB Equity 5 and Sara 2 units, all of ASNB’s unit trusts are available for online withdrawal.
- Next working day, the money would be deposited to the unitholder’s myASNB account.
- The hours of operation are identical to those of the myASNB portal and the myASNB mobile app:
Is ASNB worth investing?
ASB’s dividend was the lowest in its history last year, but it’s still a viable investment option because of its low risk and steady returns. Because of the rising cost of living, we need to put money away for the long term in order to safeguard it from inflation.
First published in 2015, this article was updated for freshness, correctness and comprehensiveness.
How do I start investing in ASNB?
It is required that you bring your IC and a minimum amount of money (RM10 for Fixed Price Funds) to any ASNB branch or agent to open an ASNB account.
What is the dividend for ASM3?
For the 14.83 billion units of fixed-price fund Amanah Saham Malaysia 3, Amanah Saham Nasional Bhd (ASNB) has declared a total income distribution of RM593.04 million or four sen per unit (ASM3). The net realised revenue of RM653 was used to pay out the dividend to the 525,038 unit holders.
How transfer money from ASB to Maybank2u?
Your ASNB account balance can be seen and transferred to another ASNB account.
- Your account balances and the five most recent transactions can be viewed by selecting your preferred ASNB account type.
ASB loans, like the ASB fund, are restricted to Bumiputeras alone. The customer must open an ASB account with the lending bank after presenting all of their income documentation to them. The loan amount will be deposited into the customer’s ASB account once the loan application has been accepted.
The investor (who is also the borrower) is required to make monthly repayments. When applying for an ASB loan, banks may also impose administration and paperwork costs.
Interest on ASB loans is calculated using the declining balance method. ASB loans are basic term loans (similar to those used by Housing Loans and Fixed Deposits). Because most ASB loans now use variable interest rates, rates will fluctuate in response to BLR.
Customers can insure their ASB loans with insurance / Takaful that is financed by the banks, just as mortgage insurance. In the event of death or total disability, these insurances will reimburse the outstanding loan amount (TPD).
Who is eligible for ASB financing?
- All ASB investors who are between the ages of 18 and 65 years old are eligible.
- With GRTA/CLTA premium financing, the margin of financing can be as high as 100% or 100%+5%.
