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Banks’ Current Interest Rate
May 19, 2009 by Alfred Phua · Leave a Comment
Home Shoppers, it’s known that now is the time for home shoppers to take action immeditately to secure the dream homes of their choice. Reason?
The banks’ BEST LANDING RATE (BLR) is currently at a very low rate which is to be exact at 5.55% per annum. Packages offered by banks right now can be as low as 3.80% per annum. Below is a brief summary of the rates offered by a few banks available in Kuching.
CIMB
- Fees by borrower: BLR – 1.95% pa, for the whole tenure.
- Fees by bank: BLR – 1.75% pa, for the whole tenure (a loan of RM100k for the repayment period of 30 years will be at RM466 per month).
OCBC
- Fees by borrower: BLR - 1.5%, for the whole tenure (min loan RM100k).
- Fees by bank: BLR – 1.3%, for the whole tenure.(min loan RM100k).
- FOR A LIMITED PERIOD (with min loan RM150k, max loan RM200k); Fees by borrower: BLR – 2.2%; Fees by bank: BLR – 1.5%
RHB is offering quite a competitive rate also for home buyers but I have forgotten the rate offered. As for Public Bank, the interest rate offered by the bank is always very flexible to suit the clients’ need.
Basically, for every RM100k that you get from the banks today for the repayment period for 30 years, you will be paying from RM446 to RM500 per month (excluding MRTA). It’s definitely the best time for you to own a dream home right now.
Disclaimer: The information provided here is for reference only. Home shoppers should consult their personal bankers for a more accurate information.
