Today many banks increase their BLR by 30 basis points from 6.30% to 6.60% after BNM announced the increase in the overnite policy rate to 3.00%. As a result, some banks offer housing loan at BLR - 2.45% and margin of financing at 90 + 5% i.e. to capitalise MRTA and legal fees up to 5% extra.
Market is very competitive with maybank offer no locking-in period for residential house loans with market value of more than RM500,000. Besides so many innovative credit cards packages offered by bank. Some main benefits offered include 8.88% interest rate, free for live membership fees, free waiver for government tax after a few swipes, free overseas trips (almost everything but the air ticket), up to 15% cash rebate, and so on.
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