Friday, May 27, 2011

BLR been "quietly" adjusted......... to 6.60%p.a. in May 2011

Bank Negara announced latest OPR in early May 2011, increased by 0.25% and thereafter BLR has been adjusted "quietly" by banks by higher rate of 0.3% (from 6.30% to 6.60%) ....

If I have outstanding mortgage balance of RM500,000.... my monthly "expense" will be increased automatically by RM125 "only".

Ok, lets assume most people will have around RM200,000 in loan (mortgage).... therefore, most are paying extra RM50 per month to bank. What a burden for common man on the street.