Below are some tips to help save time and increase the chances of your ASB loan getting approved quickly.
ASB Loan
Requirements
- Malaysian Bumiputera
- Age 18 above and below 65
Highlights
- Flexible repayment duration up to 30 years (or age 65)
- Up to 100% financing of RM200,000
- For ASB Islamic financing, there is no lock-in period.
- However, do go through the terms and conditions for any penalties or other clauses.
- Extra monthly instalments do not reduce the total loan charges/interest charged.
Outstanding Loans
Make sure all of your loan payments are up to date. If you have an outstanding PTPTN loan (student loan), go to a Perbadanan Tabung Pendidikan Tinggi Nasional branch to restructure it.
Make payment for at least one month after the restructuring process and obtain a settlement letter.
Income Documents
Employed
- Latest B/BE statement
- Latest one month payslip (for fixed salary) or three months payslip (for variable income)
- Current/Savings Account statement showing salary crediting
Self-Employed
- Latest B/BE statement
- Latest six months payslip
- Latest six months Current Account statement (registered under the Business)
Unemployed
- Unemployed with income less than RM3,500 monthly
- Declaration to LHDN (Inland Revenue Board of Malaysia)
Supporting Documents
Supporting documents to submit for your ASB loan application:
- CTOS/CCRIS report
- Fixed deposits
- Rental income
- Unit trusts
- Tabung Haji
This article first appeared in https://mypf.my
MyPF is on a mission to help simplify and grow Malaysians’ personal finances through financial education.