Did you know what is the latest BLR (Base Lending Rate) or latest housing loan package? Overnight Policy rate (OPR) and BLR had being adjusted again. The world economy crisis was slow down most of the fields, include in Property sector.

The reducing of the BLR was benefits to home owners. Those housing loan borrower with floating rate type have chance to reduce monthly loan repayments or reduce total year of tenure for their housing loans.

Once again latest BLR recorded the lower point for past 20 years. Referring to Malaysia Bank mortgage BLR history. And below table show a list of Base Lending rate offered by Bank in Malaysia and the effective date.
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Bank Malaysia to cut loan repayments to help housing loan borrowers in uncertain market.Several banks have slashed interest rates imposed on housing loans and more are expected to join in the fray.

Four banks – RHB Banking Group, Public Bank Group, United Overseas Bank Bhd (UOB) and Malayan Banking Bhd (Maybank) – have cut their respective Base Lending Rates (BLR) from 5.95% to 5.55%, following Bank Negara’s move to cut the Overnight Policy Rate (OPR) from 2.5% to 2% on Tuesday. RHB Bank and Public Bank will also be reducing their respective Islamic bank’s base financing rate (BFR) at the same quantum.

RHB Banking Group managing director Michael J. Barrett said housing loans borrower would be able to pay less to service their housing loans with floating rates while individuals and businesses would enjoy lower borrowing costs. Bank Malaysia help housing loan borrowers during these challenging times and provide our customers with more financial support. All the news BLR rates would take effect next Monday. Read more »

MAYBANK announced that its Base Lending Rate (BLR) will be reduced by 55 basis points from 6.5 per cent to 5.95 per cent effective February 3 2009.The revision takes into account the reduction in the floor rate of the one and 12 months fixed deposits by 50 basis points and the reduction in Overnight Policy Rate (OPR) by 75 basis points.

The Base Financing Rate (BFR) of Maybank Islamic Bhd will similarly be revised downwards from 6.5 per cent to 5.95 per cent effective 3 February 2009.

The reduction in Base Lending Late (BLR) is part of ongoing commitment towards the creation of a more supportive monetary environment. Housing loan borrowers will enjoy immediate benefits as the interest rates of all their loans pegged to the Bank’s BLR will be adjusted accordingly. Given the challenging in business environment, the lower cost of funding will be a boon to borrowers and help in sustaining positive economic growth in the country.

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Taking up a bank housing loan is the most practical way to finance certain events in our lives. Here is guide to help you understand bank housing loans better and hopefully aid you in making the savvy financial decision that will benefit you.

There are many ways for you to get information on bank housing loans. You can get them directly from the banking institutions or from other sources such as newspapers, magazines and the Internet. If there is any information that is not clear to you, ask the banking institution to explain it to you. Compare the different types of loans from different banking institutions to ensure that you will be able to choose the bank housing loan that suits your financial needs.
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