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中文版 |
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New Reference
Rate Framework
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Latest Update! (17 Jul 2014): Major banks in Malaysia have adjusted their Base Lending Rate (BLR) upwards by at least 0.25%. BLR for most major banks now stands at 6.85%
Any changes to the BLR will affect pricing of both existing and new floating interest rate home loans. However, fixed rate home loan packages will remain unaffected.
Since the introduction of the BLR framework in 1983, the BLR has served as
the main reference rate on retail floating rate loans in Malaysia. Since
then, the determination and implementation of the BLR has evolved with the
development of the financial sector. In the recent period, however, the BLR
has become less relevant as a reference rate for loan pricing, as lending
rates on new retail loans are being offered at substantial discounts to the
BLR. The BLR also lacks transparency, which makes it difficult for consumers
to make an informed decision.
The new Reference Rate Framework
aims to provide a more transparent reference rate to enable better decision
by consumers in making choices among the many loan products offered by
financial institutions.
READ MORE
Find the
best home loan in Malaysia! To calculate monthly home loan repayments and
apply for home loans online visit
www.imoney.my/home-loan.
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Base Lending
Rate (BLR)
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Last
Reported BLR : 6.60% (Effective Since 11 May 2011) |
(Rate refreshed on 06 March 2014)
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BLR is a
minimum interest rate calculated by banking institutions based on a formula
which takes into account the institutions’ cost of funds and other
administrative costs. This is defined by central bank of the countries.
The Overnight Policy Rate
(OPR) from
Bank Negara Malaysia is reference for banks
in
BLR adjustments, but there might
differ from bank to others bank. At the global money market down turn,
BLR will
get lower and if the money market on uptrend, it will correlation upward. It
is wisely and timely to consider take up mortgage loan and start to own your property
at the lower
BLR as current.
From the
record, it shows that the highest BLR Malaysia ever has is 12.27% in year
1998 and the lowest BLR is 5.55% in year 2009. The average is 8.1%. Probably you can use
this to justify whether it is better to take the fixed rate loan or floating
mortgage loan (BLR +/- x% ).
Below table shows the Malaysia Base Lending Rate (BLR) record from year 1989
to year 2014.
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Year |
BLR (%) |
Remark |
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2014 |
6.85 |
Adjusted July 2014 |
2011 |
6.60 |
Adjusted May 2011 |
2010 |
6.30 |
Adjusted July 2010 |
2010 |
6.05 |
Adjusted May 2010 |
2010 |
5.80 |
Adjusted March 2010 |
2009 |
5.55 |
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2008 |
6.75 |
Adjusted March 2009 |
2007 |
6.75 |
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2006 |
6.00 |
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2005 |
6.00 |
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2004 |
6.00 |
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2003 |
6.50 |
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2002 |
6.50 |
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2001 |
6.75 |
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2000 |
6.75 |
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>>
More BLR Historical Data |
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DISCLAIMER
Reasonable efforts are made to maintain accuracy of information published.
However, information could contain errors or inaccuracies and is presented
without warranty and statutory means.
No liability is assumed for errors or omissions. Viewers are advised to
consult their banker or financial consultant for complete information and
their professional advise. |
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