You may find current promotional rate from respective banks

Maybank : first year 4.15%, subsequent years start from 4.25% (for 500k and above loan size, if is below 500k best rate starts from 4.30%)

Hong Leong Bank : first & second years start from 4.15%, subsequent years start from 4.30%

OCBC : First year 4.18%, subsequent years start from 4.28%

Seems like PBB still taking the lead.
Regardless MRTA or MLTA, it's not mandatory. However, it is advisable to take up to against your mortgage.

Please find the differences below for your reference.

Mortgage Reducing Term Assurance (MRTA)
- Protection reduces from time to time. Til end of loan tenure, protection will be nil
- Lump sum premium
- Optional to finance into loan
- Beneficiary is bank should you finance MRTA into loan as bank will be the payer of policy
- On the estate planning, MRTA payout on death benefit/total permanent disabilities will solely depending whether you have written a will or not.
1) With will, payout usually will take 1-2 years.
2) Without will, it will take 2-4 years, or even longer (depending on your family tree structure)

Mortgage Level Term Assurance (MLTA)
- Full coverage against mortgage til end of loan tenure.
- Progressive premium
- Self paid, not able finance into loan
- Beneficiary is next of kin or any nominees.
- On the estate planning, MLTA payout will take 7-30 days with a submission of death certificate and other supporting document.
- You will receive cashback upon maturity of MLTA.

MRTA & MLTA is to against death or total permanent disabilities (TPD). In addition, you may add 36 critical illness as a rider/feature in MLTA.

Good morning

For the lowest now it will be PBB 4.1% and 2nd year 4.22% thereafter for the remaining year



The MRTA charges is dependent on different banks because of different insurance company and product.

MRTA is normally financed into the loan (because you will be deem to borrow that amount in 1 lump sum to pay off the insurance company to get the coverage and serve into the housing loan which therefore you incur interest on the borrowed amount to buy the MRTA.

Otherwise you can buy MLTA which is separate from the bank therefore you don't incur interest rate.

The MLTA is subject to your age, gender, smoker or not and your occupation.

There is no fix timeline, it depends on when the quota is further made available.

Yes, either wait someone to let go or wait for special request.

Common but not every time can get extra quota.

Fees charged at discretion of the lawyer, any problem later also you deal back with the lawyer

If I'm buying a house with a mortgage loan and it takes about 3 years to complete the construction, from what I know is that I'll be charged a progressive interest before the construction is completed based on the loan amount released.

Can I start paying the installment before the construction is completed? Otherwise I'll be paying 3 years of interest for nothing basically since my principle amount doesn't reduce until 3 years later. Start paying earlier basically reduced my expenses of compounded interest by 3 years.

Please refer to post #3474 in https://forum.lowyat.net/topic/2759418/+3460 for the further information.
Not all banks allow for installment repayment/interest savings and withdrawal during construction period due to over supply of property, especially in Klang Valley.

Some banks need deposit to ensure their balance sheets are balanced. If the borrowings more than deposits meaning the bank base rate may adjust at any time.

will be on the 2nd billing

2(a) The foundation and
footing works of
the said Building
(10%)

2(b) The reinforced
concrete framework
of the said Building
(15%)

You'll start serving for 10% progressive interest since 15% is downpayment.

Even it is your 3rd property and get a 70% loan. It doesnt mean that you need to start fork out 30% downpayment immediately during spa.

http://mypf.my/2016/11/02/malaysia-propert...yment-schedule/

http://mypf.my/2016/11/02/malaysia-propert...yment-schedule/

Oh. Thanks. Was just wondering if it is possible to get the same rate withiut mrta?

Thanks all for the comments.
Any advice on which option is better? 4.22 with 25 years mrta or 4.25 without mrta? Likely that I will be getting a new property after 5-10 years and possibly selling this too.

Hi All, I was informed that banks have quota loan for every projects. is it true? means that if the quota is full, my loan won't be approved if i apply with the bank? tq

Is it bad for credit report to apply to too many banks?

Also went to apply loan at a bank recently.

and they request to log in online bank account portal on their computer so they can print the details.

is this normal procedure or has anyone done this before?

Upon first disbursement

Starts from first disbursement