Cash woes? A personal loan to the rescue!
Personal Loan BYTES FROM OUR KITCHEN

CIMB ASB Loan

CIMB ASB Loan is a secured simple term loan which is computed on a variable rate basis. The loan is generally granted to individuals or joint individual applicants to aid them with the purchase of Amanah Saham Bumiputra (ASB) Units from Amanah Saham Nasional Berhad. Also there is an option for insurance coverage through this term loan known as Group Amanah Saham Assurance (GASA). However, it is advisable to take up GASA life insurance plan that is offered, underwritten as well as issued, by Sun Life Malaysia Assurance Berhad.

CIMB Disclaimer

“The Master Prospectus of the unit trust funds of ASNB dated 30 June 2015, has been registered with the Securities Commission Malaysia, and is available at any office of ASNB and its agents. Units will be issued upon receipt of the registration form referred to in and accompanying the prospectus. Before investing, please read and understand the content of the prospectus. Total return on the investments may go down as well as up. Investments in the funds are exposed to fund management risk, inflation risk and purchasing power risk. Past performances of the unit trust funds of ASNB are not guarantees of future performances. Before investing, kindly consider the fees and charges involved. Investors who wish to know the key features of a specific unit trust fund of ASNB may request for the Product Highlights Sheet issued by ASNB at any office of ASNB and its agents.”

Features and Benefits of CIMB ASB Loan

The following are the basic features and benefits of the product:

  • The Interest rate is chargeable at BR + 1.20% p.a. which is conveniently low.
  • This product has a is a stable interest Rate throughout your loan tenure.
  • The loan tenure can stretch from 5 years up to maximum 30 years or when the borrower reaches the age of 65 years whichever comes earlier.
  • The margin of financing is reasonably high at up to 100%.
  • the individual can also avail insurance coverage through Group Amanah Saham Assurance.

The basic product features can be identified through the following example:

  1. Total amount borrowed: RM 200,000.00
  2. Certificate Amount: 200000 units
  3. Interest Rate: Base Rate (BR) + 1.20% p.a.
  4. Effective Lending Rate : 4.00% + 1.20% = 5.20% p.a.
  5. Duration : 30 years

Eligibility for CIMB ASB Loan

Eligibility

  • All eligible ASB investors under ASNB guidelines
  • Individual aged 18 years and above, with evidence of income only.
  • Students are not eligible to apply
  • Malaysian Bumiputera only

Requirements for the Application of CIMB ASB Loan

Applicant is required to submit the mandatory documents as follow:

  • Photocopy of NRIC
  • Photocopy of ASB passbook (1st & 2nd page)
  • Evidence of income

What Qualifies as evidence of income:

  1. For wage earner - Latest 1 month salary slip or 3 months payment voucher (if salary is paid through payment voucher)
  2. For self-employed / businessman - Any ONE of the following:
    • Latest 6 months current account / savings account statement
    • Latest EPF statement
    • Statement of interest earned and received from FDs placed for more than 12 months
    • ASNB dividend statement
    • Latest 6 months Tabung Haji account statement

Fee and Charges CIMB ASB Loan

The basic charges include:

  • BaseR + 1.20% p.a. throughout the loan tenure
  • Base Rate as at 2 January 2015: 4.0%

Other documentation charges include:

  • ASB Certificate Lien Fee: RM 53 (inclusive of GST) payable to Amanah Saham Nasional Berhad (ASNB)
  • Nominal Stamp Duty: RM 10.

FAQs on CIMB ASB Loan

What if someone wants to settle the loan before its due maturity date?

Yes, it is possible to do so, before its maturity and does not require any early settlement fee.

Is there a necessity for a guarantor or collateral?

No guarantor is necessary. The individual's ASB certificate is supposed to be kept by the Bank throughout the loan tenure as the collateral.

How to change my contact details?

It is important that you inform the bank of any changes in your contact details to make sure that all correspondence is reachable in due time.

Where can one get assistance and redress?

If there are issues regarding repayments, the bank should be contacted immediately to discuss repayment alternatives. You can contact the bank at contact us at: Customer Resolution Unit 19th Floor, Menara Bumiputra-Commerce 11, Jalan Raja Laut 50350 Kuala Lumpur. Tel No: 1-300-88-0900 Fax No: +603 2691 3248 Email: cru@cimb.com

What if someone fails to fulfil their obligations towards this program?

In the event that the loan repayments have been not paid for 2 months, the pledged ASB Certificate will be liquidated immediately and thereafter the proceeds are used for settlement of the loan.

reTH65gcmBgCJ7k
This Page is BLOCKED as it is using Iframes.