You may need to go through some simple processes before withdrawing the money out but it should not be a lenghty one. Different bank may have different practices - just check with your bank to find out what are the procedurea and how long it takes for the withdrawal to complete.

So we can confirm now that the property agent is dubious. Base Rate interest rate is more or less the same with BLR after adding the spread mechanism

Whoever know where is the link to information said BR will be revised every three month?

If you have, please tell me.

Thx

No, there is no such thing that BR will be revised eveey 3 months.

told by my bank officer.

BNM policy document never says this. Ask your bank officer to show proof - I believe not only me but others interested to see as well.

Unless there's a financial situation that warrants it, the revision of monthly installment must be at least 3 months apart should there be changes to BR, be it up or down. Borrower can still choose to retain the existing installment by writing in to the bank. Whether that'll be adverse to the customer in terms of credit score, ccris is still undetermined if customer chose not to accept higher installment.

Since this is still new and there's no expected change to the costs, banks are expected to retain the current BR until at least end of the year.

Yes BR might not revised every 3 months but the spread might revise more frequent for the means time as it's still new.

Bank negara didn't specify that base rate will change every 3 months. But do remember that BLR is still in place for older loans and it will change . Spread is also determined by factors such as credit rating and also amount being borrowed.

BR will not change but spread yes. What I mention is spread ya

BR shouldn't be affected by the GST.

BR won't affected by GST, However for commercial title property there will be slightly increase due to GST.

But the penalty a.ka. late payment a.ka. financial charges are subjected to GST

BR : bank to decide
BLR : BNM to decide
bank = crony control
BNM = government control
crony control/discuss with government on how to make the most from people.
So, no difference.

The new BR framework good for buying property meh? I don think so lor.. Its better to wait and see how the GST will affect the economy first then only decide. As for now, U rent house first lah with your wife before buying new house.

BNM has given the banks the discretions to decide on the level of BLR they want to set.

Can pls enlighten us why you think BR framework is not good for buying property?

BR can be reviewed once every 3 months while BLR once every 6 months.

Nope. How frequent the BR is reviewed & revised depends on the respective banks internal policy. Similarly, BLR is not reviewed once every 6 months.

Not really, I read somewhere is BR banks can reviewed it once every 3 months and BLR once every 6 months. Review the rate does not means they will increase or reduce. Is still based on market drive.