I've placed a booking for a 2-storey property last week and am now looking for a housing loan package. I'm really new in this and learning all the terms like MRTA, S&P etc. So far i've been approached by Stan Chart and CIMB for their flexi loan packages. both seem similar except that Stan Chart didnt mention anything about MLTA (maybe the guy just didnt mention it cos he had trouble communicating with me as well)

1. I understand that the rates are more or less the same across banks, but the packages differ? what exactly that differs?

2. MRTA vs MLTA, which should I go for? an estimation shows that a one-off MRTA is around 6-7k, while MLTA is a yearly payment of 2k. I'm aware of the pros and cons:
- MLTA has a guaranteed cash back
- MRTA needs to be purchased again should I refinance my loan

Correct me if I am wrong. my concern is that i'm a little tight on budget and MRTA seems like a cheaper option for now

3. If there are any sales bankers out there, appreciate if you can speak to me as I've approached 2 banks so far and dont see much of a difference. it's better if i submit more applications too right?

Thanks!

Maybe you can try Hongleong bank ?
She is my good friend from HongLeong bank
You can try asking her 0193227951 Christine (imbi branch)

This post has been edited by paige.pc: Feb 24 2010, 09:45 AM

You can discuss more about MRTA vs MLTA here: http://forum.lowyat.net/index.php?showtopic=410824

Again it's not all about rates. It's about convenience and also service. You do not want to call the bank up if there's any issue, and they can't answer you or direct you from one department to the other. Service is really a thing to consider besides the rates.

True.. i'm more keen on CIMB than stan chart as there is only 1 branch in Klang and none near where i work, and that is already 1 turn off point in terms of convenience.

can anyone let me know if they have had bad service experience, so that i can avoid them? or recommend me good ones too. thanks!

Heard of AIA housing loan before? Pm me I can share more with you. I'm from AIA. ;D

Between the 2 plans you were offered, I would definitely go for MRTA if I were you. 2K MLTA premium pa is a lot of money, which can be used to repay your loan.