Hi my SA adviced me to submit loan application to 3 banks and recommended mbb cimb and ambank. Can I actually apply more than 3 to compare the interest rates?

Hi which bank is this?

Hi ambank banker asked me how many years of mrta I'd prefer to take, can anyone advice? The property is for own stay for at least 10 years.

Minimum coverage 10 years

Sum insured 100% cover 10 years premium will be 4984

Sum insured 100% cover 35 years premium will be 18658

So its wise to buy until the whole tenure? I don't know how is this calculated

I have tried to apply loan for 3 banks but only ambank approved my application

Loan amount: 486000 + 18658 (mrta)
Loan tenure: 35 yrs
Interest rate: 3.55%
Monthly installment: RM2101
Sum insured 100%, cover for 35 years
Spa and loan 1 name only.

Ques
1. The interest rate is abit high so I wanted to try out pbb but SA advised not to do because she say pbb always got late disbursement issue?
Any concerns eg late interest charge?

2. Since loan already approve can I still make change to the mrta insured value? (reduce coverage years to lower monthly installment)

This post has been edited by xinmay: Jun 23 2020, 04:45 PM

What's your rate?

Is it normal for developer to charge late interest fee to buyer when bank disburse payment late?