Are you expecting cheaper loan when you read the paper the Rate down from 6.85% (BLR) to 4% (Base Rate)?
Actually, it is almost the same, from the time being, initially.
Recent inquiry for a loan smaller than RM150k, the following are quote from respective banks
M Bank: BR+ Profit = 5.35%
R Bank: BR + Profit = 5.05%
H Bank: BR + Profit = 4.85%
Also M bank shows their Base Rate as lowest amongst ALL banks but effectively the rate is the most expensive among the three.
Loan seeker really have to source around....
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