New Effective Rate for Retail Loans / Financing
Before 2 January 2015
Base Lending Rate / Base Financing Rate (BLR / BFR)
Loans / financing extended prior to 2 January 2015 will continue to be referenced against the Base Lending Rate (BLR) or Base Financing Rate (BFR) until their maturities.
Effective 2 January 2015
Base Rate (BR)
Effective 2 January 2015, a new reference rate known as the Base Rate (BR) will be used for new retail floating rate loans / financing facilities.
Illustration below is based on RM350,000 loan, 30 years with no lock-in period: