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Raya may look a bit quieter this year. No big Raya parties to attend, huge open house gatherings to host and no road trips back to your hometown either.
While this festive season may involve less travelling and no large celebrations with friends and family, there is one upside. Fewer gatherings (and less duit Raya to give out) means saving more money and having more time to reflect on your finances. And during this economically challenging time, it’s worth taking the time to strengthen your financial resilience.
So what can you do with the money you’ve saved this season? Besides increasing your emergency fund and donating what you can for charity, you can also prepare for your financial future. The most straightforward way to do that is to invest.
A popular investment vehicle for many Malaysians is the Amanah Saham Bumiputera (ASB). Here’s what you need to know about ASB, and how you can invest in it online.
What is ASB, and why should you invest in it?
ASB is a unit trust fund that is open to all Bumiputera citizens in Malaysia. Launched in 1990, it is managed by Amanah Saham Nasional Berhad (ASNB), a subsidiary of Permodalan Nasional Berhad (PNB), a government-linked investment institution.
Here are a few reasons to consider it in your portfolio.
a) Minimal risk investment
If you want to grow your funds without taking too much risk, ASB could be a good choice. That’s because ASB has a fixed price of RM1 per unit. This makes it less volatile than other types of investments, such as non-fixed price unit trust funds or stocks that have prices that can rise and fall.
b) Decent returns
ASB has a good track record of decent returns – it has delivered an average of 6.6% return per year in the past five years. Putting your funds in ASB can potentially grow it faster than if you leave it in a fixed deposit, which currently may only give you returns of 2% per year.
Here’s how ASB performed in the past five years:
| Year | Distribution (sen) | Bonus (sen) | Total (sen) |
|---|---|---|---|
| 2016 | 6.75 | 0.5 | 7.25 |
| 2017 | 7 | 0.25 | 7.25 |
| 2018 | 6.5 | 0.5 | 7 |
| 2019 | 5 | 0.5 | 5.5 |
| 2020 | 3.5 | 0.75 | 4.25 |
Having a steady stream of dividends every year is useful for meeting your financial goals. For instance, it could help you grow your savings for the down payment of your first home, or provide you a regular income during your retirement years.
c) Convenient withdrawal
Unlike your Employees Provident Fund (EPF) or Private Retirement Scheme (PRS) savings, there are no requirements you need to meet if you want to withdraw your ASB funds. You can withdraw your funds from an ASNB counter or Maybank branch.
What are the benefits of investing online through Maybank (even if you don’t have an account)?
To invest in ASB, you could leave your home, physically visit a counter and wait in line for your turn. And don’t forget to bring cash, a banker’s cheque or bank draft.
But why go through that hassle?
If you already have an ASB account, investing additional funds is easy – you won’t even have to leave your home. Maybank customers can invest online through the Maybank2u (M2U) website, the M2U app or the MAE app. Non-Maybank customers can also invest online through the MAE app.This means being able to invest anytime, anywhere, while complying with social distancing measures.
Besides that, you can easily look up the balances in your ASB account online without using an ATM. This makes it convenient to check if you are on track with your investing goals, or to see how ASB’s yearly dividends are growing your funds.
Stand a chance to win up to RM1.5 million worth of prizes
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Here’s another perk of investing online: from now until 14 July 2021, when you invest in ASB through Maybank, you’ll stand a chance to win up to RM1,500,000 worth of prizes, which includes:
- Up to RM1,000,000 in cash prizes from ASNB
- An iPad, JD Sports voucher and Zalora voucher every month, exclusively for Maybank customers
All you have to do is invest a minimum of RM10 through the M2U website, the M2U app or the MAE app. Your investment must be funded from a savings, current, or MAE account. The more you invest, the more entries you’ll earn to increase your chances to win.
How to invest in ASB online through Maybank
So how do you start investing online? It’s easy! Just follow these steps.
Register for an ASB account
If you don’t have an ASB account yet, you’ll need to register by visiting an ASNB branch or an ASNB agent like Maybank. All you need to do is to bring your identity card, the initial amount of cash you want to invest (minimum RM10) and fill up a form.
Invest through Maybank2u or MAE
If you already have an ASB account, you can make additional investments online with Maybank. You can do this through the M2U Web, M2U App or the MAE app.
| Through the M2U app | ● Log in to or M2U Web or M2U App ● Click on “Transfer” at the bottom panel ● Select “ASNB” ● Perform a minimum transfer of RM10 to ASB |
| Through the MAE app | ● Log in to MAE app ● Click on “Transfer” on your dashboard ● Select “ASNB” ● Perform a minimum transfer of RM10 to ASB |
Invest as a non-Maybank user
No Maybank account? No worries! Just download the MAE app and sign up for free. Then, start investing in your ASB account by following the steps above. Other than convenience of investing in ASB, the MAE app also offers lots of features, such as expense tracking, automatic savings and occasional deals and promotions.
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As you can see, investing in ASB online is easy. If you’ve been wanting to grow your funds without taking too much risk, this could be an investment worth considering.
