At the Monetary Policy Committee (MPC) meeting on 5th May 2011, Bank Negara Malaysia decided to raise the Overnight Policy Rate (OPR) by 25 basis points to 3.00 percent with immediate effect. The floor and ceiling rates of the corridor for the OPR are correspondingly raised to 2.75 percent and 3.25 percent respectively.

Following this, banks will Base Lending Rate (BLR) & Base Financing Rate (BFR) later. For those who have variable loans specially home loan, will have to pay more in their monthly installment. On the positive side, the increase also will raise the current fixed deposit rate. For the latest BLR & BFR rate kindly refer to Rate Page.

Read more →

mortgage rates down

That’s true. There is a new round of price war among banks for consumer loans, with the new mortgage rate going down to as low as base lending rate (BLR) -2.3%. The current BLR rate is 6.3%.

This is a very good news to property investors because they can obtain cheaper loan to buy more properties. With the news that Malaysia properties are booming, there are more reason to buy properties especially medium to high end landed properties.

There was a lots of interest in Malaysia properties priced below RM2mil and less movement among the higher end homes. Many foreigners especially from Singapore keen to invest in Malaysia due to affordability.

The new mortgage rate is now down to as low as BLR-2.2% since end-July.

After a quick check, below are the rates offered by some of banks. I believe other banks also have the same competative rate.

Read more →

The following table are the latest Base Lending Rate (BLR) and Base Financing Rate (BFR) for banks in Malaysia. BLR is used in Conventional Banking while BFR is used in Islamic Banking. However, most of the time BLR & BFR figures are the same.

No Banks Effective Date BLR / BFR (% p.a.)
1 Affin Bank 12/05/2011 6.60
2 Alliance Bank 13/05/2011 6.60
3 AmBank 13/05/2011 6.60
4 Asian Finance Bank 11/05/2011 6.60
5 Bangkok Bank 13/05/2011 6.60
6 Bank Islam 12/05/2011 6.60
7 Bank Muamalat 13/07/2010 6.35
8 Bank of America 13/07/2010 6.30
9 Bank of China 12/05/2011 6.55
10 Bank of Tokyo-Mitsubishi UFJ 11/05/2011 6.25
11 Bank Simpanan Nasional 12/05/2011 6.55
12 CIMB Bank 11/05/2011 6.60
13 Citibank 16/05/2011 6.60
14 Deutsche Bank 13/05/2011 6.50
15 EON Bank 13/05/2011 6.60
16 Hong Leong Bank 13/05/2011 6.60
17 HSBC Bank 12/05/2011 6.60
18 J.P. Morgan Chase Bank 15/07/2010 6.20
19 Kuwait Finance House 13/05/2011 6.60
20 Maybank 11/05/2011 6.60
21 OCBC Bank 12/05/2011 6.60
22 Public Bank 11/05/2011 6.60
23 RHB Bank 11/05/2011 6.60
24 Standard Chartered Bank 13/05/2011 6.60
25 The Bank of Nova Scotia 16/05/2011 6.60
26 The Royal Bank of Scotland 15/07/2010 6.00
27 United Overseas Bank 12/05/2011 6.60

interest rate

Following Bank Negara decision to raise Overnight Policy Rate (OPR) by 25 basis points to 2.5% last week, some banks in Malaysia start to revise up their Base Lending Rate (BLR) and Base Financing Rate (BFR).

This is the second time in 2010 that Malaysian have to bear the burden of higher interest rate. The first increase was implemented in March 2010.

Maybank, CIMB Bank, Public Bank, RHB Bank and Bank Islam have increased their BLR & BFR by 25 basis point to 6.05% from 5.80% previously. Other bank will follow suit.

Read more →

interest rate

With recent hike of Overnight Policy Rate (OPR) by Bank Negara Malaysia (BNM), Banks do not take a long time to raise BLR and BFR. The first bank to raise the BLR is Bank Simpanan Nasional.

BLR normally used in conventional loan package while BFR normally used in Islamic loan package. However, most of the time BLR & BFR figures are the same.

The table below show the latest BLR or BFR rate for most of banks in Malaysia as at 12th March 2010. This table is no longer maintained. The latest rates can be found on this page.

Read more →