Not much different between BLR (Base Lending Rate) which are using right now compared to BR (Base Rate) which going to implement soon. For BLR, the spread by the bank can be either + or - ; For BR, the spread will be only +. BR is implement to provide transparency (to consumer) of costs & profit imposing by the bank with the spread (+) they offered as previously the spread (+ or -) is quite confusing to consumer which do not have financial knowledge.

Despite BLR going to be replaced by BR. The effective rate for BLR & BR will be the same.

Assume BR @ 3.6% & BLR remained 6.85%.

Scenario 1:
BLR 6.85% - Spread 2.4% = Effective Rate 4.45%
BR 3.6% + Spread 0.85% = Effective Rate 4.45%

Scenario 2:
BLR 6.85% + Spread 0% = Effective Rate 6.85%
BR 3.6% + Spread 3.25% = Effective Rate 6.85%

Existing Loan with BLR will be remain based on BLR. Only new loan will start using BR. I dun think bank will set the effective rate differently for both BLR & BR. Else, all existing customer (using BLR) will refinance within the bank or to others bank. Just my opinion.