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Monday, April 20, 2020

You Can Do Online Redemption From ASNB Funds




I am glad that finally, ASNB has activated the online redemption function for the investor to withdraw their fund starting from 20 April 2020. This is good news for some of us, especially whom some of us just officially unemployed.

The investor can now do the online redemption through @myASNB official portal or mobile application. The money will be transferred from the ASNB unit trust account to the registered unit trust account.

The ASNB online withdrawal facility was created in conjunction with the Government's initiative to urge all Financial Institutions to make available digital transaction facility for the unit holder's to manage their investment without going through the counter.

You can do the transaction during the operating hours :

* Fixed price unit trust funds: 7am to 6pm Monday to Sunday (excluding national public holiday)
* Variable price unit trust funds: 7am to 4pm Monday to Sunday (excluding national public holiday)

The money will be credited into your registered bank account on the next business day.

The minimum limit for online transaction for online redemption is RM100 and only three (3) times transaction a month. Total of maximum is RM500 accumulated amount from all unit holder's ASNB unit trust account. Basically only maximum of RM500 per month for security purpose. If you need to withdraw more than RM500, please visit any ASNB branches or agents.
There are no charges will apply for online unit trust redemption from @myASNB.

For those who have not yet registered as myASNB use can refer to their online portal on how to get yourself registered.

However, if possible please avoid redeeming your unit trust unless you really have no other choice. Please remember, our unit trust investment is our retirement funds and long term savings. This investment is meant as a compounding growth.

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