Mar 7 2020, 10:27 AM
QUOTE(DisneyHome @ Mar 4 2020, 07:34 PM)
Too sad to say confirm no interest rate change for new home loan application despite OPR cut whereby announced by BNM yesterday (I have called my some bank officers to reconfirm)
That's mean, if interest rate offered before was BR + 0.75% = 4.25% (before base rate cut was 3.50%), now become BR + 1.00% = 4.25% (after base rate cut to 3.25%)
Bear in mind, during Jan'20 BNM had announced OPR cut simultaneously BR also follow the suit but same practice for majority bank (ie no change of interest rate offer for new home loan by that time)
You can’t blame the banks.. when rate is cut, banks source of funds (fixed deposit rates) are still locked at higher rates... banks can’t offer lower rates as yet... it will take some time before they attract new FD at lower rates, then they can lower the spreads in the future... banks not in charity.. if u tak suka.. then don’t take the loan .. this is just realityThat's mean, if interest rate offered before was BR + 0.75% = 4.25% (before base rate cut was 3.50%), now become BR + 1.00% = 4.25% (after base rate cut to 3.25%)
Bear in mind, during Jan'20 BNM had announced OPR cut simultaneously BR also follow the suit but same practice for majority bank (ie no change of interest rate offer for new home loan by that time)
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