hi sifu,
recently aiming for my 2nd property with spa price of 1 mill.
got kinda good rate of 3.85% from MBB with selection either Mrta or Clta.
Im looking for CLTA since my previous 1st property was on MLTA and i guess it is safer to assure my family has less headache on the loan repayment in case im gone.
However, is it a trend now to combine the amount of clta into my housing loan as well ?
im thinking if the clta cost 60K .. might as well ended with repayment of 120 K (addon with the housing interest bla bla bla)
is it worth it by combining the insurance into the housing loan or this is the new process nowadays
Thanks

Thanks for the highlight...
the concern i have is like ....
- I buy CLTA and combine my principal of spa 1mill + 60K insurance = total will be 1mill 60K. With the housing interest of 3.85%, roughly by end of the tenure, i should be paying around 2 mill 120 k ? (usually double right ?)
- Is this still applicable like im buying with housing loan of spa 1 mill 3.85%, at the same time, i am paying separately rm xxx monthly for my insurance so at the end of my tenure, im paying around 2 mill with 60 K (as independent insurance charges ?) As this is similar to my current purchase where i had my 1st house housing loan with Bank A and separate monthly insurance payment MLTA and chargeable from my credit card.


So what is about "making early repayments into your housing loan to reduce the interest." ?
Should it be...... instead of reducing the interest, but adding up more interest as im combining my CLTA insurance to the total loan amount ?
Im a bit confuse with this



hi !@#$%^ .... was told that MBB has the lowest / better rates in market while i was still thinking if i can get 3.8 %.
It looks something like Base rate 3% + the rates for each bank (MBB is 0.85%) .... so total will be 3.85%