Interest changing to BLR + 0% and higher?, Starting from 1 January 2015
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 Feb 17 2015, 09:37 AM
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#1
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Senior Member
2,552 posts Joined: Jan 2008  
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i was told that there are rumors that banks are gonna raise BR in Apr 2015 (BR is reviewed every 3 months). Any truth to the matter?
Was looking at refinancing my semi-flexi to a flexi, due to the current zero moving cost promo. However the EFR is 0.1% higher than my current loan. If BR goes up, it's double whammy. |
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Feb 17 2015, 02:25 PM
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#2
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Senior Member
2,552 posts Joined: Jan 2008
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QUOTE(Jasoncat @ Feb 17 2015, 01:34 PM) For the 1st 3 months when the BR came into effect on 2/1/2015, the banks are told not to change their BR. After that the banks have the discretion to revise their BR provided that the triggers set in their internal policies governing the BR are hit. Actually wanted to withdraw all my FD and dump in, but want the peace of mind to be able to get to the cash without any redtape or processing on a rainy day.Do you withdraw the excess funds very often and that's the reason why you want more flexibility with full flexi loan? If not I will rather keep the loan as it is.  |
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Feb 23 2015, 12:31 AM
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#3
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Senior Member
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QUOTE(Jasoncat @ Feb 21 2015, 05:39 PM) No, there is no such thing that BR will be revised eveey 3 months. told by my bank officer. |
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Mar 4 2015, 03:59 PM
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#4
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QUOTE(supersound @ Mar 4 2015, 03:53 PM) 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. should not me be true, i recall BLR is tied to Bank Negara OPR rate, which is reviewed every 2 months. http://www.bnm.gov.my/?ch=mone&pg=mone_opr_stmt&lang=en as u can see in 2010 OPR changed every 2 months, so BLR would have changed every 2 months then. http://www.blr.my/blr-history.htm This post has been edited by zenquix: Mar 4 2015, 03:59 PM |
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Mar 6 2015, 02:23 PM
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#5
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QUOTE(tailingchuan @ Mar 5 2015, 06:00 PM) Hi All, HSBC is having a zero moving cost promotion. Maybe u can try. The indicative rate is 4.75% (~ BLR - 2.2 in old days). I am trying to appeal since it is worse than my current rate. But it is already better than your current 1. Maybe u can try.I would like to check about method to get additional cash by refinancing my home. Current outstanding loan RM 190k. Current House price is 500k-550k range. Existing BLR rate is BLR-2 %. If i get a new 250k refinancing loan: 1) would i be able to get the additional cash of 50k immediately. 2) Does the homeloan now need to pay lawyer fees and all. 3) How long will the process take. Thanks https://www.apps.asiapacific.hsbc.com/1/2/m...mktcode=0193-OT |
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