OCBC Bank Ups BLR To 5.80 Per Cent

KUALA LUMPUR, March 10 (Bernama) -- OCBC Bank (Malaysia) Bhd and its subsidiary, OCBC Al-Amin Bank Bhd, will increase their base lending rate (BLR) and base financing rate (BFR) to 5.80 per cent effective Thursday.

Their previous BLR and BFR were 5.55 per cent per annum.

The bank said the increase followed the upward revision of Bank Negara's Overnight Policy Rate (OPR) last Thursday.

The central bank raised the OPR by 25 basis points to 2.25 per cent from the current 2.0 per cent.

OCBC's mortgage lending rate, the alternative to BLR for home loans, will also be raised to 4.65 per cent per annum, said OCBC Bank in a statement today.

Customers will also enjoy increases in deposit rates to as high as 30 basis points for deposit placements of three to 11 months and over 12 months.

OCBC Bank Director and Chief Executive Officer Jeffrey Chew said the OPR upward revision clearly affirmed the growth momentum in the economy, a good sign for the banking industry and commerce, the bank added.

-- BERNAMA






So how much you guys are forking out extra?

I haven't even start paying my first monthly repayment and they start rising already....

same here!

leongal, why you haven't started your repayment? I started my repayment right after the 1st drawndown.

IIRC HSBC also. Have to check.

I duno why, it suppose to be auto deduction from my savings account, which did not happen, I think I should check with the bank tomorrow...thanks...

I think the auto deduction is not in place yet, do check with them immediately.

i think it will be increase again in 3rd Q,

Citibank rate is 5.8%. same with local bank first time.

Yes, confirmed. HSBC BLR increased to 5.8% effective 9th March.

Thanks for highlighting it, I have got it sorted out today......

Aih. I also haven't started paying but BLR increase, bloody hell.

me too....

not pay the installment yet..bcoz have something pending at land office...

BLR increased already..waaa....

me too here. march increase, april only pay 1st instalment.

But we shud feel lucky as we could get historic lowest interest package.

Ya.

Never in Malaysia history we could get BLR -1.8% or below.
My parents generation are mostly BLR + X% interest.

http://www.meshio.com/base-lending-rate/

From the site, lowesst BLR is Bank of Tokyo-Mitsubishi UFJ (Malaysia) Berhad 10/03/2010 5.50

but i never heard of this bank before

is it still possible to get the 4.99% fix rate interest? really2 scared on the recent increase of BLR.........im thinking of getting fix rate by june this year...hope its still not to late to get the best rates......

i think we don't have to worry too much about the rise in the interest rate actually, it is a normalizing stage.....the BLR will move in tandem with the OPR, and OPR unlikely to go above 3.5%

Good rate but i think this bank only service Japanese companies or someone of Japan citizenship. I don't think this bank is open to public.

This post has been edited by Shazzac: Mar 11 2010, 03:09 PM

you are wrong. The Royal Bank of Scotland Berhad is the lowest 5.25%