|Financial Institution||SBR (%)||BR (%)||BLR (%)||ELR (%)|
|Bangkok Bank Berhad||3.00%||4.47%||7.12%||5.67%|
|Bank of China (Malaysia) Berhad||3.00%||3.80%||4.80%||6.60%|
|CIMB Bank Berhad||3.00%||4.00%||6.85%||4.75%|
|Hong Leong Bank Malaysia||3.00%||3.88%||6.89%||N/A|
|HSBC Bank Malaysia||3.00%||3.64%||6.74%||4.75%|
|Malayan Banking Berhad||3.00%||3.00%||6.65%||4.15%|
|OCBC Bank (Malaysia) Berhad||3.00%||3.83%||6.76%||4.70%|
|Public Bank Berhad||3.00%||3.52%||6.72%||N/A|
|RHB Bank Berhad||3.00%||3.75%||6.70%||N/A|
|Standard Chartered Bank Malaysia Berhad||3.00%||3.52%||6.70%||4.75%|
|United Overseas Bank (Malaysia) Berhad||3.00%||3.86%||6.82%||4.61%|
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 May 2023. Read on to find out about their latest interest rates.
A change in the Overnight Policy Rate (OPR) like the recent OPR hike on 3 May 2023 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).
This latest change sees an increase of 0.25% and sets the current OPR at 3.00%. This is the first time this year that there has been a change in OPR. The last change was announced on 3 November 2022 with an increase of 0.25% which set the OPR at 2.75%. 2022 saw increases in OPR as much as four times.
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.Discover properties for sale
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 June 2023 and illustrates the respective banks’ base rate, base lending rate and indicative effective lending rate.
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 Institution||SBR (%)||BR (%)||BFR (%)|
|Affin Islamic Bank Berhad||3.00%||2.95%||5.81%|
|Al Rajhi Banking & Investment Corporation (Malaysia) Berhad||3.00%||4.10%||7.00%|
|Alliance Islamic Bank Berhad||3.00%||3.82%||6.67%|
|AmBank Islamic Berhad||3.00%||3.85%||6.70%|
|Bank Muamalat Malaysia Berhad||3.00%||3.81%||6.81%|
|CIMB Islamic Bank Berhad||3.00%||4.00%||6.85%|
|Hong Leong Islamic Bank Berhad||3.00%||3.88%||6.89%|
|HSBC Amanah Malaysia Berhad||3.00%||3.64%||6.74%|
|Kuwait Finance House (Malaysia) Berhad||3.00%||3.50%||7.39%|
|Maybank Islamic Berhad||3.00%||3.00%||6.65%|
|MBSB Bank Berhad||3.00%||3.90%||6.75%|
|OCBC Al-Amin Bank Berhad||3.00%||3.83%||6.76%|
|Public Islamic Bank Berhad||3.00%||3.52%||6.72%|
|RHB Islamic Bank Berhad||3.00%||3.75%||6.70%|
|United Overseas Bank (Malaysia) Berhad||3.00%||3.86%||6.82%|