My banker said my loan has been approved, but it's at a board rate 4.5% - is there such thing as board rate?

He said he's appealing for a better rate - how long will this take? Usually will this be accepted or not?

Can't ask my banker, he seems very busy so very hard to ask him all these stupid newbie questions lol

There's no such thing as stupid newbie questions ... plus ... a typical home loan tenure range from at least 10 years to 15,20,25,30 and 35 years, I would like to find out from my banker rather than being in the dark for that long period of time.

Have not heard of Board Rate, but MY uses Base Rates (previously BLR) now:
http://www.bnm.gov.my/index.php?ch=en_anno...ouncement&ac=19

Jul 7 Base Rates References
http://www.bnm.gov.my/index.php?ch=8&pg=29&ac=19&bb=file