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(Updated July 2023) Latest SBR, BR, BLR & ELR for banks in Malaysia


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.

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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.

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.

Financial InstitutionSBR (%)BR (%)BLR (%)ELR (%)
Affin Bank3.00%2.95%5.81%3.55%
Alliance Bank3.00%3.82%6.67%4.36%
Bangkok Bank Berhad3.00%4.47%7.12%5.67%
Bank of China (Malaysia) Berhad3.00%3.80%4.80%6.60%
CIMB Bank Berhad3.00%4.00%6.85%4.75%
Citibank Berhad3.00%3.65%6.80%N/A
Hong Leong Bank Malaysia3.00%3.88%6.89%N/A
HSBC Bank Malaysia3.00%3.64%6.74%4.75%
Malayan Banking Berhad3.00%3.00%6.65%4.15%
OCBC Bank (Malaysia) Berhad3.00%3.83%6.76%4.70%
Public Bank Berhad3.00%3.52%6.72%N/A
RHB Bank Berhad3.00%3.75%6.70%N/A
Standard Chartered Bank Malaysia Berhad3.00%3.52%6.70%4.75%
United Overseas Bank (Malaysia) Berhad              3.00%3.86%6.82%4.61%
Source: Bank Negara Malaysia, news, and respective bank’s announcement as of June 2023.

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 (%)BFR (%)
Affin Islamic Bank Berhad3.00%2.95%5.81%
Al Rajhi Banking & Investment Corporation (Malaysia) Berhad3.00%4.10%7.00%
Alliance Islamic Bank Berhad3.00%3.82%6.67%
AmBank Islamic Berhad3.00%3.85%6.70%
Bank Muamalat Malaysia Berhad3.00%3.81%6.81%
CIMB Islamic Bank Berhad3.00%4.00%6.85%
Hong Leong Islamic Bank Berhad3.00%3.88%6.89%
HSBC Amanah Malaysia Berhad3.00%3.64%6.74%
Kuwait Finance House (Malaysia) Berhad3.00%3.50%7.39%
Maybank Islamic Berhad3.00%3.00%6.65%
MBSB Bank Berhad3.00%3.90%6.75%
OCBC Al-Amin Bank Berhad3.00%3.83%6.76%
Public Islamic Bank Berhad3.00%3.52%6.72%
RHB Islamic Bank Berhad3.00%3.75%6.70%
United Overseas Bank (Malaysia) Berhad    3.00%3.86%6.82%
Source: Bank Negara Malaysia, news, and respective bank’s announcement as of June 2023.

Disclaimer: The information is provided for general information only. Malaysia Sdn Bhd makes no representations or warranties in relation to the information, including but not limited to any representation or warranty as to the fitness for any particular purpose of the information to the fullest extent permitted by law. While every effort has been made to ensure that the information provided in this article is accurate, reliable, and complete as of the time of writing, the information provided in this article should not be relied upon to make any financial, investment, real estate or legal decisions. Additionally, the information should not substitute advice from a trained professional who can take into account your personal facts and circumstances, and we accept no liability if you use the information to form decisions.

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Frequently Asked Questions about Lending Rates Malaysia

In Malaysia, BR (Base Rate) replaced BLR (Base Lending Rate) as the benchmark interest rate used by banks for determining lending rates. It includes costs like funds and reserves. SBR (Standardised Base Rate) is the reference rate for Islamic financial instruments set by the Central Bank of Malaysia. These terms are crucial for understanding loan and financing interest rates in the country.
Previously, BLR fluctuated based on the central bank's periodically determined overnight policy rate (OPR). In contrast, the present BR relies on banks' internal factors like funding costs and liquidity, enabling banks to review it independently, regardless of OPR adjustments.
On May 3, 2023, Bank Negara Malaysia (BNM) raised the Overnight Policy Rate (OPR) by 25 basis points, elevating it from 2.75% to 3%.