Everyone needs to buy things. Sometimes its small things like food, clothes, phones, and groceries; other times its big things like, cars, jewellery, designer fashions, and a house.
When it comes to big investments, the most common way of arranging finances is by taking out a loan from the bank. But before you do that, you should take a look at the interest rates.
Recently, Bank Negara Malaysia (BNM) released the latest Base Rates, Base Lending Rates and Indicative Effective Lending Rates of some of the major banks in Malaysia, as of 5 April 2019. Below we have listed out those rates for you.
| Financial Institution | Base Rate (%) | Base Lending Rate (%) | Indicative Effective Lending Rate* (%) |
| Affin Bank | 4.20 | 7.06 | 5.01 |
| Alliance Bank | 4.07 | 6.92 | 4.61 |
| AmBank | 4.10 | 6.95 | 4.75 |
| Bangkok Bank Berhad | 4.72 | 7.37 | 5.92 |
| Bank of China (Malaysia) Berhad | 4.05 | 6.85 | 5.05 |
| CIMB Bank Berhad | 4.25 | 7.10 | 5.00 |
| Citibank Berhad | 3.90 | 7.05 | 4.70 |
| Hong Leong Bank Malaysia Berhad | 4.13 | 7.14 | 5.00 |
| HSBC Bank Malaysia Berhad | 3.89 | 6.99 | 5.00 |
| Industrial and Commercial Bank of China (Malaysia) Berhad | 4.02 | 6.95 | 4.75 |
| Malayan Banking Berhad | 3.25 | 6.90 | 4.60 |
| OCBC Bank (Malaysia) Berhad | 4.08 | 7.01 | 5.16 |
| Public Bank Berhad | 3.77 | 6.97 | 4.60 |
| RHB Bank Berhad | 4.00 | 6.95 | 5.00 |
| Financial Institution | Base Rate (%) | Base Lending Rate (%) | Indicative Effective Lending Rate* (%) |
| Standard Chartered Bank Malaysia Berhad | 3.77 | 6.95 | 4.77 |
| United Overseas Bank (Malaysia) Bhd. | 4.11 | 7.07 | 4.86 |
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| Islamic Financial Institution | Base Rate (%) | Base Lending Rate (%) | Indicative Effective Lending Rate* (%) |
| Affin Islamic Bank Berhad | 4.20 | 7.06 | 5.01 |
| Al Rajhi Banking & Investment Corporation (Malaysia) Berhad | 4.35 | 7.25 | 5.70 |
| Alliance Islamic Bank Berhad | 4.07 | 6.92 | 4.61 |
| AmBank Islamic Berhad | 4.10 | 6.95 | 4.75 |
| Bank Islam Malaysia Berhad | 4.03 | 6.98 | 4.83 |
| Bank Muamalat Malaysia Berhad | 4.06 | 7.06 | 5.06 |
| CIMB Islamic Bank Berhad | 4.25 | 7.10 | 5.00 |
| Hong Leong Islamic Bank Berhad | 4.13 | 7.14 | 4.85 |
| HSBC Amanah Malaysia Berhad | 3.89 | 6.99 | 5.00 |
| Kuwait Finance House (Malaysia) Berhad | 3.75 | 7.64 | 4.60 |
| Maybank Islamic Berhad | 3.25 | 6.90 | 4.60 |
| Islamic Financial Institution | Base Rate (%) | Base Lending Rate (%) | Indicative Effective Lending Rate* (%) |
| MBSB Bank Berhad | 4.15 | 7.00 | 4.80 |
| OCBC Al-Amin Bank Berhad | 4.08 | 7.01 | 5.16 |
| Public Islamic Bank Berhad | 3.77 | 6.97 | 4.60 |
| RHB Islamic Bank Berhad | 4.00 | 6.95 | 5.00 |
| Standard Chartered Saadiq Berhad | 3.77 | 6.95 | 4.77 |
| Development Financial Institution | Base Rate (%) | Base Lending Rate (%) | Indicative Effective Lending Rate* (%) |
| Bank Kerjasama Rakyat Malaysia Berhad | 4.10 | 7.08 | 4.90 |
| Agrobank | 3.85 | 7.00 | – |
| Bank Simpanan Nasional | 4.10 | 6.85 | 4.70 |
Note:
*Indicative effective lending rate refers to the indicative annual effective lending rate for a standard 30-year housing loan/home financing product with financing amount of RM350k and has no lock-in period.
So now that you have this information, you can make a more informed decision when looking for a loan type that best suits you. Please do note that the above is for your reference only. If you want the latest and most accurate rates, then be sure to consult the relevant banks.
Also, make sure you regularly check the loan rates for major banks so that you can find the best option that matches your financial criteria.
Check out the official Bank Negara website to get the latest data: https://www.bnm.gov.my
