Hi sifus,

My sister just got the Samm unit and applied loan with Mbb. Loan approved with the rates below. I told her to ask the agent on the minimum MRTT or without MRTT bcos we want to buy life insurance to cover the loan.

Spa price : RM 250,000
*Loan 90%* RM 237,500 ( Legal fees RM4,000 + MRTT RM8,500 )
Tenure : 35 yrs
Interest rate : 3.95%
Instalment : RM 1,045

MRTT detail;
Coverage RM199,320
Tenure 35 years
Premium RM 8,500

The officer said MRTT is compulsory (sure boh?) And if she want to remain 3.95% minimum need RM200,000 and 5 years.
He will calculate the premium and let us know.

Any comments please?


This post has been edited by sugarbaby: Jul 17 2023, 06:03 PM

Asked already. He said minimum MRTT is RM200k at 5 years. Waiting for him to tell us the revised premium.

The officer just called us again today. He said MRTT compulsory must take. People also told me its not compulsory one. This means he just bluff us and want to earn the extra commission lah.

Would it be different if i approach another officer from Maybank?

Can I know your rate of 3.9% is because of your loan amount is higher?

This post has been edited by sugarbaby: Jul 17 2023, 08:12 PM

Yup, I know why banks want us to buy mrta/mrtt.

My sister just texted another maybank officer. This lady told her mrtt is not compulsory and can waive if my sister can prove she has life insurance that can cover the loan. But they will add 0.05% to the final rate. Well, at least this lady is more honest than the other guy.
But she cannot process my sister's loan unless this guy cancels my sister's application first.

This post has been edited by sugarbaby: Jul 17 2023, 09:12 PM