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 »