ASNB which stands for Amanah Saham Nasional Berhad, is an unit trust company run by PNB. Most people, especially bumiputera would save their money in ASNB due to its fixed price and ease of use. Now, we can even set up Auto Labur (auto-deduct) function in myASNB app. I have been saving my money in ASB since I graduated in 2020 consistently. Earlier this year, they introduced their robo-advisor called RIA. I set up my RIA profile and began saving in both ASB and RIA. However, using the Auto-Labur option for RIA has been frustrating to me, which I will summarize below.
In myASNB app, we can set up auto labur by linking our bank account and choosing the date for Auto Labur to occur. For educational sake, we will use the below figures:
- RM100 to be deducted from my bank account to ASB on 28th May
- RM100 to be deducted from my bank account to RIA on 28th May
On their website, ASNB mentioned that the money will be credited around 5-7 business days after it has been deducted from our perspective banks.
In my experience, Auto-Labur for both will usually occur like this:
- ASB account: RM100 deducted in the morning from my bank account on 28th May --> credited in my ASB account around 11.40 pm on 28th May
- RIA account: RM100 deducted in the evening from my bank account on 28th May --> credited to my RIA account on 4th June
I believe RIA account took more time for the transaction to be completed because it is a variable-price unit trust compared to fixed-price unit trust in ASB. However, in future, I will stop my Auto-Labur settings for RIA and use it only on ASB account. This is because of two factors:
- Time – RIA takes a long time for the money to be reflected in the account and if I had that money invested somewhere for the time it took to reflect in my account (let's say e-wallet), I could have probably earned a few nickels on it. RM100 would probably only generate around RM0.02 on TNG e-wallet per day, but imagine if the number is much bigger. I could have earned more profits rather than waiting for RIA.
- Ease of use – if we deduct manually to RIA, we can strategize when to put the money in. This factor is crucial if you have multiple risk profiles under RIA account.
All in all, I would like to urge everyone to save and invest in ASB because it is easy and low-risk. I use ASB to “park” my money as I am learning on how to trade in Bursa. Thank you for reading my article and see you in my next one.
Maya Fazida is a content creator under the Newswav Creator programme, where you get to express yourself, be a citizen journalist, and at the same time monetize your content & reach millions of users on Newswav. Log in to creator.newswav.com and become a Newswav Creator now!
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