ASB Certificate...and OD'd

Perhaps, some of us don't have any clue as to how and why we want to transfer or replace our ASB book to a ASB certificate. One of the reasons might be for you to be able to pledge the certificate to the bank and with that certificate, entitles you to receive at least 90% OD facilities of the amount that you pledge. For example, you transfer RM10k from your ASB book to the ASB cert, you will get around RM9k worth of OD facilities. Why do you need OD facilities anyway? Well, again, there a lot of reasons, for capital investments, to pay up your credit cards, to make downpayment for the purchase of a new vehicle, etc..etc...

How do I transfer from my book to the certificate?
It's a very simple process actually, go to menara PNB at Jln Tun Razak (Tips: Go early in the morning where the will be little crowd)-don't forget to bring along your blue ASB book. Go to the counter on your left once you enter and ask the receptionist that you wanna make a certificate. He or she will give you a red form for you to fill in and then, take your number (press A) and wait for your turn. Make sure you fill in the amount that you want to transfer to the certificate. Once your number is up, go to the counter, and pass your book to the officer and he or she will ask you to pay RM10 for the cert. Wallaaaa....there's that. Simple process isn't it? With that certificate, take your time to look around the banks that offers the lowest OD rate available. It might be RHB, Maybank, Public Bank, etc..etc....

Cont....

Ok, now we've got our certificate. What do we do? For me, I'm a bit lucky cause I know someone in Maybank that could help me in going through the OD application process. What I did was, I prepared 3 months of my salary slips together with the photocopy of the ASB certificate, I forwarded to my contact in Maybank and she will do the processing for me. I do not know as to how long the process will take but I do hope it can be settled before the 16th of January. As the next day, 17th of January is kinda of a big day for me as I'm going to bid for two properties that are up for auction. Let's just hope everything can be ready before that day.....