Jan 20 2009, 09:05 AM
QUOTE(Hengjones @ Jan 19 2009, 07:47 PM)
Hi Everyone,
I have been scouting for good rate for the loan.
Just found out that there is this insurance called MRTA. It is an insurance to settle the outstanding amount in the even of death or disabilities. The premium rate is depended upon how many years you choose to opt for. It can be 30 years depending on the tenure of the loan.
Currently Public Bank has tied up with ING to offer the MRTA to its customer. I am actually asking around about the premium calculation. The premium can be added to the loan amount depending on the customer whether he would want to settle upfront.
I remember one forummer suggest don't put your MRTA under loan amount, so that the MRTA amount will avoid the compounded interest. Not sure though.I have been scouting for good rate for the loan.
Just found out that there is this insurance called MRTA. It is an insurance to settle the outstanding amount in the even of death or disabilities. The premium rate is depended upon how many years you choose to opt for. It can be 30 years depending on the tenure of the loan.
Currently Public Bank has tied up with ING to offer the MRTA to its customer. I am actually asking around about the premium calculation. The premium can be added to the loan amount depending on the customer whether he would want to settle upfront.
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