I believe AIA/ ING is offering fixed 4.85%

not bad, i would suggest you to give it a try if you think the market may rise to 85 basis in these 3 years time, which is quite likely happen.

btw, from what most financial consultant says about BLR is always 8%+ is untrue. They take the sample data from the whole lending history and is not focused on recency. This is what i get from http://www.blr.my/blr-history.htm :

Year BLR (%) Remark
2010 6.30 Adjusted July 2010
2010 6.05 Adjusted May 2010
2010 5.80 Adjusted March 2010
2009 5.55
2008 6.75 Adjusted March 2009
2007 6.75
2006 6.00
2005 6.00
2004 6.00
2003 6.50
2002 6.50
2001 6.75
2000 6.75
1999 8.00
1998 10.50
1997 9.25
1996 8.50
1995 6.60
1994 8.25
1993 9.50
1992 9.00
1991 7.50

for more than 10 past years, BLR is around 6.x%, it can sky rocket to 8.x% but do not foresee it happening in a year or 2...

So, pick wisely... and think from an economical way, if BLR rises, no ones can afford to pay the additional interest, and people loses appetite. And the banks still need new businesses to help them grow. So, the will most probably have their offer rate revised from time to time.

The only way the bank's offer rate is ever going to be less attractive is when the nation is taking strict measures to curb inflations....