Many of us get confused when they received ASB yearly statement. So with some help from Cari.com.my forumers, I have compiled the way to calculate ASB dividend and bonus.
ASB dividend is computed monthly but it will be distributed annually. Let say PNB have declared that this year dividend rate is 7%. This is how to calculate your dividend:
monthly dividend income= 0.07 / 12 x minimum balance
Annual dividend income ( this will be shown up in you balance) = sum of monthly dividend for that year
Bonus is given to minimum monthly bonus for the past 10 years (120 months). Bonus will be most beneficial to those who have been saving for at least 10 years. Let’s say ASB bonus is 2% this year.To calculate Bonus:
monthly bonus = 0.02/120 x minimum monthly balance
When i said monthly balance, it is not this year’s months only, but including the months’ from the past 10 years.
this year bonus = sums of monthly bonus for the past 120 months
Example: Let’s say that you just invest for 4 years (48 months) and your average monthly balance for the past 48 months is $1000. So the bonus will be 48 x ( 0.02/120 x 1000) = $8
So that’s how to calculate the bonus and dividend for ASB. Any correction and question please put in the comment section below. t
Update: Automatic calculator is available here http://www.irwan.biz/asb-calculator-v3/