sorry double post.

This post has been edited by lifebalance: Aug 24 2015, 10:10 AM

Normally get as short as possible for the MRTA tenure if you really to get lower interest.

The rest just get MLTA for long term cost effectiveness.

Some banks just require you to buy maybe 10 years mrta to get lower interest rate. Some will put it that you have to buy for your whole loan tenure.

So if you need to purposely get mrta to offset for a lower interest rate and the banks wouldn't budge unless you buy mrta with them. Then just buy a lower tenure mrta. So you don't have to fork out and finance your insurance under the loan.

Use your money to get mlta if you can afford it because end of the day. You'll get back your money after x amount of years

That's great. Check on the fine print and what's the amount they'll be paying back.