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

    CIMB ASB Financing/Loan

    CIMB ASB Financing is a term loan scheme provided to purchase ASB/ASB2 units. The personal financing facility offers a stable interest rate throughout a customer’s loan tenure.

    Interest Rates

    Duration Interest Rate Effective Lending Rate
    Throughout the loan tenure BR + 1.30% p.a. 5.20% p.a.

    Base Rate is 3.90% (as of July 22, 2016).

    Benefits and features

    • The customers can enjoy a stable interest rate throughout the tenure of their personal financing.
    • The scheme offers a loan tenure starting from 5 years.
    • The financing tenure ranges up to 30 years or till 65 years of the applicant’s age, whichever is earlier.
    • CIMB ASB Financing provides as high margin of financing.
    • Borrowers can also obtain an insurance coverage via the Group Amanah Saham Assurance. However, taking up the insurance coverage is an optional practice for the applicants.
    • A customer does not need to provide any collateral at the time of applying for the loan. The applicant’s ASB Units Certificates will be used as a collateral throughout the tenure of the loan.
    • A customer can fully settle the financed amount even before the maturity of his/her tenure and no settlement fee will be charged.

    Fees and Charges

    Fee type Fee details
    Documentation fee (Non-Refundable) RM63 (inclusive of GST) This includes: ASB/ASB2 Certificate Lien Fee: RM53 (inclusive of GST) payable to Amanah Saham Nasional Berhad (ASNB) Nominal Stamp Duty: RM10
    Handling fee Nil
    Early Settlement Fee No fee charged
    Late Payment Fee 1% p.a. of the outstanding amount

    Eligibility

    • The applicant requires to be a Malaysian citizen.
    • All eligible ASB investors under the ASNB guidelines can apply for the loan facility.
    • Candidates who are above 18 years of age can apply for the scheme.
    • Students are not eligible for the financing.
    • An individual/applicant needs to show a proof of his/her income to apply for the loan.

    What documents are required?

    • A copy of the NRIC (National Registration Identity Card) of Malaysia.
    • A proof on income:
      • For a salaried employee -
        • Salary slips of last 1 month or payment vouchers for last 3 months (if the salary is paid in that form)
      • For a self-employed applicant: (any one of the following documents)
        • Current or saving account statements for last 6 months or
        • Latest statement for EPF or
        • Statement of interest earned and received from FDs which are placed for more than 12 months or
        • Dividend statement of ASNB or
        • Tabung Haji account statements for last 6 months

    How to Apply ?

    A customer can go to the nearest CIMB branch and get an application form for the CIMB ASB personal financing scheme. Applicants are advised to go with all mandatory documents which are to be submitted along with the duly filled application form.


    FAQs

    Q. Can the base rate determined by the bank to obtain the personal financing change?

    A. Yes, the base rate is variable and it depends upon the changes in the BCOF (Benchmark Cost of Funds) and SRR (Statutory Reserve Requirements). With every increase and decrease in these rates, the base rate will modify accordingly.

    Q. Does my instalment get revised whenever there are alterations in the Base Rate?

    A. Yes, the instalments get affected with the change in the BR. Your total repayment amount and interest rate could change due to alterations in the rate. If the variation in the Base Rate is more than RM50, the new instalment will get revised. However, any change in the Base Rate affecting your instalment for less than RM50, will not affect your instalment.

    Q. What will happen if I fail to fulfil my dues by the assigned date?

    A. If you fail to pay off your dues consecutively for 2 months, you’re charged/deposited ASB Units Certificates will be liquidated and used for the payment settlement for the amount financed to you.

    Q. What are the ASB Units?

    A. The ASB Units are the Amanah Saham Bumiputera Units or Amanah Saham Bumiputera 2 Units that are bought and financed by the bank and which are charged and/or assigned and/or pledged to the bank as security. The ASB Units are derived in the form of ASB Unit certificates as determined by ASNB considering the number of certificates requested by the customer.

    Q. I am above 18 years old and currently studying in the country. Am I eligible for the CIMB ASB Financing?

    A. CIMB ASB financing is granted to the individuals above 18 years of age. But a student is not eligible for the personal loan scheme. For more information on the eligibility, please contact the Customer Resolution Unit at: cru@cimb.com or call on: +603 6204 7788.

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