MBSB upbeat on new products

PETALING JAYA: Malaysia Building Society Bhd (MBSB) expects its two new products to help the company achieve its loan disbursement target of RM14 billion this year.

The personal financing products - MBSB Max-I 2 and MBSB Premium Plus - were launched here yesterday.

MBSB senior vice-president of retail banking Azman Aziz said its personal financing products have received an overwhelming response since they were introduced in 2009 as they offer affordable financing and high value, but with low repayment.

MBSB constantly strives to create innovative and competitive products to meet customers' needs and lifestyle, he added.

Azman said 70 per cent of MBSB's total loan disbursals will be achieved via its network of 49 agencies, while the remaining will be contributed by marketing officers. "In order to increase our business, we will hire new agents. In this regard, we will be very selective," he said.

Also present at the launch was MBSB's chief operating officer Clifford Anthony Clement.

MBSB Max-I 2 and MBSB Premium Plus offer a minimum 3.99 per cent interest rate per year, funding of up to RM400,000 and repayment period of up to 25 years.

They are also offered with value adds such as insurance coverage schemes.

In conjunction with the rollout of the two products, MBSB yesterday also launched "Jutawan MBSB", a contest that gives customers an opportunity to be a millionaire.