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ASB is a scheme that was launched in 1990 and is considered one of the safest investments avenues and has been known to provide some fairly impressive and steady returns. The scheme is actually an investment in equity markets and pegs the price of each unit at RM 1. It also is known not to charge any fee on redemptions of investments made. It also comes with a limit on the amount that can be invested in the account and this limit is RM 200,000. While there exists a limit on the amount that can be invested in the account, there is no limit on the amount that can be held in the account. This means that if the investment grows to exceed RM 200,000, then no the investors won’t be asked to withdraw or limit investments into the account.
An ASB (Amanah Saham Bumiputera) loan is a loan that is extended to Malay ethnic group, who are also referred to as Bumiputeras. It is a loan that can be taken to invest in ASB schemes and is provided by most of the banks in Malaysia. The general features of this loan can include, high loan amounts coupled with long repayment tenures.
Some of the salient features of the ASB loans being offered by various banks are:
The interest rates offered on these loans are determined by the banks offering the loan.
The eligibility criteria that governs the approval such loans depends on the bank but some common points are:
Q. Can I borrow more than RM 200,000?
A. Some banks extend loans up to RM 400,000 and more. The maximum amount that you can borrow will depend on the banks.
Q. Can I make more than one payments towards the loan in a month?
A. This facility is subject to bank's rules. In some cases, banks limit the number of payments to 1 per month.
Q. What is the maximum amount that I can invest in an ASB account?
A. The limit of the amount that can be invested in this account is set to RM 200,000.
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