ASNB Withdrawal ONLINE: Here’s HOW!

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Is it just admin, or do you guys keep your emergency fund in ASNB? Some of you guys might also park your money there for life events like weddings, kenduri, education, and more. It kinda makes sense because it’s better than your savings account, of course, low risk and offers great liquidity to withdraw whenever you require money.

But, the process of taking the money out can be mafan lah especially when you don’t have much time to spare, but you still need the money. Sometimes, just thinking about it can put you off.

Well not anymore, ASNB unitholders - REJOICE!

Because you no longer need to wake up early and queue long long at the counter to withdraw money from your ASNB account. You can now perform an online withdrawal of ASNB units via the myASNB portal and myASNB mobile app (available on Google Play and App Store). Yas!

What's covered in this article?

First, here are what you should know about ASNB online withdrawal...

The maximum withdrawal limit is RM500 a month (because they want to encourage you (unit holders) to maintain the investment longer to reap the benefits of investment and only withdraw when necessary).
The minimum amount of withdrawal is RM100 per transaction.
The number of transactions allowed is 3 times per month.
You can only withdraw (redeem) from your unit trust account.
Any ASNB’s unit trusts are allowed for online withdrawal EXCEPT for ASN Equity 5 and ASN Sara 2.
No additional charges (for now).
The amount would be transferred to the unit holder’s bank account registered with myASNB on the following working day.
The operating hours are as per existing operating hours of myASNB portal and myASNB mobile application:

- Fixed Price Unit Trust Funds: Monday to Sunday, 7.00 am – 6.00 pm, local time
- Variable Price Unit Trust Funds: Monday to Sunday, 7.00 am – 4.00 pm, local time

Okay, how to make ASNB withdrawal online?

1. First, you’ll need to make sure that your phone number with ASNB has been updated to register as an ASNB portal user. To do this, you can visit any ASNB Branches or Agents (Maybank, Maybank Islamic, CIMB Bank, RHB Bank, Pos Malaysia, Affin Bank, Bank Simpanan Nasional, Alliance Bank, AmBank and AmBank Islamic). This is to ensure the details are valid and accurate; not suka-suka. You CAN’T do this online because the officer will need to verify your IC (MyKad) before any data can be updated.

2. Once that is sorted out, you can now register as an ASNB portal user. How to do it? Check out this short tutorial vid by ASNB below.

3. When your details are completed, then only you can make an online withdrawal. You just need to click on your Portfolio, then click Transaction on the required unit trust and select Redemption. Confused? Here are the simple steps, as told by ASNB.

If you have any questions on ASNB withdrawal, please feel free to check out this ASNB Online Redemption FAQ page.

What else can you do with ASNB online portal?

Besides online withdrawal, you can get instant access to your investment portfolio information, view MyASNB transaction records and account statements, as well as make additional ASNB investments.

So easy, innit? Hopefully, we can all make the most of this facility lah. We're happy to see this government-linked investment company catching up on the digital forefront.

Having said that, since the withdrawal facility is made available online, don't syiok sangat withdraw your money - do it ONLY when it's necessary, okay? Okay.

*The above article is intended for informational purposes only. Loanstreet accepts no responsibility for loss that may arise from reliance on information contained in the articles.

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About the Author

Nisya Aziz

A storyteller at Finology, who drinks coffee like its water, Nisya enjoy bringing valuable, educational and entertaining content to others. When not busy crafting content, you’ll find her in the boulder gym or on stage, performing theatre shows.

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