Sep 30 2020, 07:33 PM
QUOTE(CHLOW301 @ Sep 30 2020, 06:43 PM)
the current OPR is 1.75%
maybank base rate is 1.75, PBB is 2.27, cimb is 2.75,
anyone can advise why some banks has higher base rate? I thought bank's base rate should be as same as OPR.
i got an offer from cimb for 3.25%, agent told me can fight for 3.05% if buy insurance.
The BR is dependent on banks’ benchmark cost of funds and liquidity (how much can lend out, how much deposits/investment products it needs etc.) Banks can also review it anytime if there are no changes in the OPR. So each bank has their own base rate depending on how they want to encourage their customers' saving vs spending/loan habits. It's not fixed on OPR although they use OPR as a guide.maybank base rate is 1.75, PBB is 2.27, cimb is 2.75,
anyone can advise why some banks has higher base rate? I thought bank's base rate should be as same as OPR.
i got an offer from cimb for 3.25%, agent told me can fight for 3.05% if buy insurance.
Maybank is a GLC (government linked company) so they can afford lower BR. Other banks are not so "blessed" with assistance
This post has been edited by DragonReine: Sep 30 2020, 07:36 PM
Quote
0.0229sec
0.45
7 queries
GZIP Disabled