Hello All, I am 32 yrs old working in an office environment.

For housing mortgage about 330K for 35 years with interest rate 4.45%, can please assist / advise how much is the estimated premium for MRTA?

Thank you.

MRTA also depending how many years you want...

Bank compulsory you to have MRTA?

mine 450k..Mrta 9k (25+3year)

Not compulsory..but with MRTA bank can lowered down your interest rate.

For example..with mtra your loan is 4.4%, without mrta your loan is 4.5%.

Btw, you can put your mrta into loan also.

This post has been edited by BlackPen: Feb 22 2017, 02:41 PM

Mrta is overrated, bank using it to earn more.

Mine 430k MRTA 25years 18k total

pain pain... masuk loan liao mah?

Banks selling mrta also can cari makan wei...
NO MRTAH=HIGHER INTEREST. Jangan persoal.

Yeah, mine was almost 3years ago bro!

Haha

All settled, pain is pain la, but at least now less worry.

If anything happen to me, me debt are taken care of lo

agree, and not everyone can afford "high kelas" mlta.

This post has been edited by heavensea: Feb 22 2017, 10:37 PM

MRTA for 35 years, RM330,000. Estimated single premium is RM12,097.80

If you chose to include the MRTA premium into your housing loan, the single premium will be RM12,558.00

Financed vs Non-financed Loan Installment
Financed is RM1,610.59 monthly
Non-financed is RM1,551.54 monthly

Differences of RM59.05 monthly.

assume RM 60 /mth x 12 mth/yrs x 35 yrs = 25.2K - 12K = U give 13K free to bank.

Again, if no money for lump sum better financed into loan.
Better have then never..

Yes you are right! Protection comes first. While the RM12k money if available, can choose to put into investments which conservatively yield 5-7% returns yearly, slightly higher than the 4.4% interest rates from housing loan.

5-7%, where would that be? keen to learn

Hi mafa2801, the most common investment in Malaysia is Unit Trust which gives instant diversification of risk by not putting all eggs into one basket. The 5-7% was not guaranteed and it's only based on general assumptions and historical records. All in all, by identifying your risk profile level and investment objectives is of utmost importance before investing into any type of investments. Good luck!

I see...i did unit trust using EPF account 1..but not dare enough to do Unit Trust using cash in hand..
ok, noted..thanks sir!

Hi all,

I was offered a 522K loan by Maybank Islamic @ 4.25% - 35 years

However the MRTT is around 24K for 35 years 100%.

I feel it is overpriced ? should I source for other providers outside ?

Thanks.

could not find any online calculator =(

All govt housing loans must take MRTA, so you can actually head to the LPPSA website and use their calculator for a rough estimate. MRTA will depends on your age, gender, amount of loan, loan period and which insurance company. Unfortunately the calculator only goes up to 30 years loan period, max.

http://www.lppsa.gov.my/v1/index.php/kalkulator


This post has been edited by Fazab: May 12 2017, 09:42 AM

Thanks !

I took the loan. However, I still do not understand how PBB and MayB calculated the MRTA/MRTT.

Loan amount approved 522K by 2 banks. Both ~ 4.25% interest for 35 years. I am 30 years old.

PBB - MRTA 20 years - 9K

MayB - MRTT 35 years - 24K

How is the MRTA calculated ? Huge gap.

I just took a 300k loan. Quoted MRTA full insured sum. 35 years MRTA (RM 14k) vs 25 years MRTA (RM 7k). So you can see the amount double. For your case, 35 years vs 20 years should be more than double the differential amount.

Anyway, since yours from different bank, will have slightly different risk judgement base on your age, gender, occupation, etc.

Yeah. Even on LPPSA, different insurance panel will guote different amount.

My uncle took 250k loan at age 50, loan period 20 years, MRTA almost 50k.......😨😩

Thanks for sharing the information. I feel much better now =).