LATEST BASE RATE AND BASE LENDING RATE FOR THE MAJOR BANKS IN MALAYSIA AS AT 1/8/2016
The reduced to 3% in Overnight Policy Rate (OPR) by Bank Negara on 13th July 2016, is a good sign for the property market and benefit to many homeowners out there. Two weeks after the announcement, major banks in Malaysia have reduced and adjusted the Base Rate (BR) and Base Lending Rate (BLR).
By reducing the interest rates, many homeowners are pleased with the changes, because this mean less interest charge to the borrower and more saving.
According to Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM) president Datuk Ter Leong Yap said the OPR reduction is a measure of strategy by BNM to stimulate the market.
To some extent, this will ease a little bit the cost of doing business and it will also be good for consumers as they will have extra buying power.
We, at Malaysia Housing Loan (MHL), has compiled a list of latest base rate and base lending rate for the major banks in Malaysia as at 1/8/2016.
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