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.
|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).
|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|
|Early Settlement Fee||No fee charged|
|Late Payment Fee||1% p.a. of the outstanding amount|
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.
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: [email protected] or call on: +603 6204 7788.