31 May 2019

What is the Lending Rate from various banks now? (Updated May 2019)

As most of us already knew, Bank Negara Malaysia (BNM) decided to reduce the Overnight Policy Rate (OPR) to 3% at its last meeting on 7 May 2019. This was the first time of OPR cut since July 2016.
Malaysia Interest Rate
Historical Movement of Malaysia's benchmark interest rate (Overnight Policy Rate)

Consequently, the ceiling and floor rates of the corridor for the OPR are correspondingly reduced to 3.25% and 2.75% respectively. This in turns will affect all the borrowing rates in Malaysia.

What's the lending rates from various financial institutions following the cut?

Here you go...

* Indicative effective lending rate refers to the indicative annual effective lending rate for a standard 30-year housing loan/home financing product with financing amount of RM350k and has no lock-in period.

As at 24 May 2019

Bank Negara Malaysia

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1 comment:

  1. Yes, there are more banks in Malaysia which are lowering their lending rates.Standard Chartered Malaysia jumping on the bandwagon this week, following the cut in the overnight policy rate (OPR) to 3% from 3.25%.
    The bank’s base rate (BR) was lowered from 3.77% per annum to 3.52% per annum, while its base lending rate (BLR) was revised from 6.95% to 6.70% per annum.
    Similarly, its Islamic base rate and base financing rate have also been reduced by 25 basis points to 3.52% per annum and 6.70% per annum, respectively, from 3.77% and 6.95% previously.


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