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TSadrianteo
post Jan 15 2019, 06:24 AM, updated 6y ago

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Junior Member
188 posts

Joined: Jan 2008


Hi all, recently been quoted MRTA from a bank (to be incorporated into my home loan) for total amount RM49k.

MRTA Tenure: 32 years
Loan Amount: RM 1.03 mil.

Is this MRTA reasonable?

The MRTA is a bundled together with the loan to get that specific interest. I asked for waiver but cant, so assuming i am going with this package, can i know if this MRTA amount is reasonable or overpriced?

powerlinkers
post Jan 15 2019, 06:57 AM

On my way
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Junior Member
652 posts

Joined: Jun 2017


QUOTE(adrianteo @ Jan 15 2019, 06:24 AM)
Hi all, recently been quoted MRTA from a bank (to be incorporated into my home loan) for total amount RM49k.

MRTA Tenure: 32 years
Loan Amount: RM 1.03 mil.

Is this MRTA reasonable?

The MRTA is a bundled together with the loan to get that specific interest. I asked for waiver but cant, so assuming i am going with this package, can i know if this MRTA amount is reasonable or overpriced?
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1.It would be better to take with MRTA, you could get 0.05% -0.1% lower interest rate per annum for your tenure.
2.If you do not wish to pay the amount : you could ask to shorten the tenure of MRTA to 5 to 10 years(depends on financial institution). e.g. shorten period to 5 years: you need to pay RM 7.6k for 5 years MRTA whilst you would still be able to enjoy lower interest rate for the whole 32 years tenure.


 

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