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How Base Rate (BR) Works
Effective 2nd January 2015, in
line with new Reference Rate Framework introduced by Bank Negara Malaysia
(BNM), Banks in Malaysia are implement a new reference rate to be known as
Base Rate (BR) to replace the Base Lending Rate (BLR) for all new consumers
lending.
For example, if the current BR is
3.67%, the interest rate on a “BR + 1.00%” home loan would be 4.67%.
Calculate your monthly instalments by using the
Home Loan Calculator available in this website.
For illustration purpose:
Loan Amount: RM350,000 (No
Lock-In Period)
Loan Tenure: 30 years
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Before
2 Jan 2015 |
From
2 Jan 2015 |
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Reference Rate |
BLR = 6.85% |
BR = 3.67% |
|
Interest Rate |
BLR - 2.20% |
BR + 1.00% |
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Effective Lending
Rate |
4.65% |
4.67% |
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Monthly instalment (RM) |
1,804.73 |
1,808.93 |
Note:
Effective Lending Rate may vary if BLR or BR changes.
Sources:
baserate.my
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