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(Updated September 2022) Latest SBR, BR, BLR & Effective Lending Rates for banks in Malaysia

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Banks in Malaysia are revising their Standardised Base Rate (SBR), Base Rate (BR) and Base Lending Rate (BLR) upward, following the Overnight Policy Rate (OPR) hike in September 2022. Read on to find out about their latest interest rates.

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©Maitree Boonkitphuwadon | 123rf

A change in the Overnight Policy Rate (OPR) like the recent OPR hike on 8 September 2022 will trigger a chain of events which affects various borrowing rates being offered by banks to consumers including short-term interest rates, fixed deposit rates as well as the Standardised Base Rate (SBR), Base Rate (BR) and Base Lending Rate (BLR).

Hence an OPR hike usually means a higher cost of borrowing for banks and financial institutions and thus, home loans will become expensive for consumers whereas an OPR cut would result in the opposite – a lower cost of borrowing. 

We have explained all you need to know about the SBR, BR and BLR in this article: Standardised Base Rate (SBR): What is it, differences with BR and how will it affect loans? Find out how these figures affect your home loan and how you can better prepare yourself before taking up a mortgage.

According to Bank Negara Malaysia (BNM)’s Reference Rate framework, in respect of housing loans or financing products priced against the base rate, banks and financial institutions are supposed to disclose an indicative effective lending rate (ELR) for a standard housing loan or home financing product for consumers at all branches and websites.

Indicative ELR refers to the indicative annual ELR for a standard 30-year housing loan/home financing product with a financing amount of RM350,000 for 30 years and has no lock-in period.

The list below is the most recent one updated by iProperty Malaysia with the latest information released by the respective bank as of 12 September 2022 and illustrates the respective banks’ base rate, base lending rate and indicative effective lending rate.

Financial InstitutionSBR (%) BR (%)BLR (%) Indicative Effective
Lending Rate (%) 
Affin Bank 2.503.456.314.05
Alliance Bank2.503.326.173.86
AmBank*2.253.105.953.75
Bangkok Bank Berhad*2.253.726.374.92
Bank of China (Malaysia) Berhad*2.253.055.85 4.05
CIMB Bank Berhad2.503.506.354.25
Citibank Berhad*2.252.906.053.70
Hong Leong Bank Malaysia Berhad*2.253.136.144.00
HSBC Bank Malaysia Berhad*2.252.895.994.00
Industrial and Commercial Bank of China (Malaysia) Berhad*2.253.025.953.97
Malayan Banking Berhad2.502.506.153.75
OCBC Bank (Malaysia) Berhad*2.253.086.013.95
Public Bank Berhad2.503.026.22TBA
RHB Bank Berhad2.503.256.20TBA
Standard Chartered Bank Malaysia Berhad*2.252.775.954.00
United Overseas Bank (Malaysia) Berhad2.503.366.324.11

*Note: Figure as of 13 July 2022

Source: Bank Negara Malaysia, news, and respective bank’s announcement as of 12 September 2022.

Meanwhile, here are the latest rates for Islamic home loans / financing- do note that base financing rate (BFR) is the BLR’s equivalent for Islamic loan products. 

Financial InstitutionSBR (%) BR (%)BLR (%) Indicative Effective
Lending Rate (%) 
Affin Islamic Bank Berhad2.503.456.31 4.05
Al Rajhi Banking & Investment Corporation (Malaysia) Berhad2.503.606.50 3.85
Alliance Islamic Bank Berhad2.50 3.32 6.17 3.86
AmBank Islamic Berhad*2.25 3.10 5.95 3.75
Bank Islam Malaysia Berhad*2.253.025.973.40
Bank Muamalat Malaysia Berhad2.503.316.314.31
CIMB Islamic Bank Berhad*2.50 3.50 6.35 4.25
Hong Leong Islamic Bank Berhad*2.25 3.13 6.14 3.85
HSBC Amanah Malaysia Berhad*2.25 2.89 5.99 4.00
Kuwait Finance House (Malaysia) Berhad*2.25 2.75 6.64 3.80
Maybank Islamic Berhad2.50 2.50 6.15 3.75
MBSB Bank Berhad2.25 3.156.003.70
OCBC Al-Amin Bank Berhad*2.25 3.08 6.01 3.95
Public Islamic Bank Berhad2.503.02 6.22 TBA
RHB Islamic Bank Berhad*2.25 3.256.20TBA
Standard Chartered Saadiq Berhad*2.25 2.77 5.95 4.00
Development Financial InstitutionSBR (%) BR (%)BLR (%) Indicative Effective
Lending Rate* (%) 
Bank Kerjasama Rakyat Malaysia* Berhad*2.25 3.106.083.70
Bank Pertanian Malaysia Berhad (Agrobank)*2.25 2.856.00TBA
Bank Simpanan Nasional (BSN)*2.25 3.105.853.60

*Note: Figure as of 13 July 2022

Source: Bank Negara Malaysia, news, and respective bank’s announcement as of 12 September 2022.

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