Financial Planning / Mortgage Reducing Term Takaful (MRTT)
- Exclusively offered to Home Financing-i customers of Bank Rakyat.
- Designed to cover the Home Financing-i balance by Takaful Operator in the event of death or total permanent disability (TPD) due to any causes.
- Releasing family members from financial burden in case of unfortunate event.
- Covering up to RM3,000,000 of the Home Financing-i balance.
- Lump sum payment by Takaful Operator for the balance of Home Financing-i in the event of death or TPD on the person covered.
- Total sum covered will be consistent with the reducing balance of Home Financing-i payment schedule.
- Lump sum contribution can be paid by the customer or financed by Bank Rakyat.
- Customers has option to enrol for MRTT plan from the following Takaful Operator:
- Takaful Ikhlas Family Berhad
- Syarikat Takaful Malaysia Keluarga Berhad
- Sun Life Malaysia Takaful Berhad
- If the Home Financing-i account settled earlier, the certificate can be surrendered for cash value.
- Offer surplus sharing (if any) to participant at the end of certificate period.
- Home Financing-i with Bank Rakyat only.
- Malaysian Citizen.
- Aged between 18 to 65.
- Sum covered from RM10,000 to RM3,000,000, subject to underwriting approval.
- Maximum coverage term of 35 years.
The published rates, fees and charges are effective from 1st April 2019 following the implementation of 6% SST from 1st September 2018. Terms & conditions apply.For any enquiries, please visit the nearest branch or call our Contact Centre tele-Rakyat at 1-300-80-5454.*Terms and conditions apply.