How to get your ASB loan approved
Here are some tips to help save time and increase the chances of your Amanah Saham Bumiputera loan getting approved.
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
Stay current - Follow FMT on WhatsApp, Google news and Telegram
MyPF is on a mission to help simplify and grow Malaysians’ personal finances through financial education.