Standard Housing Loan
- Variable rates pegged to Base Rate (BR)
- No notice required on extra repayments made
- Can include or be converted to overdraft facility
- Available financing for Mortgage Reducing Term Assurance (MRTA) premiums
- Standing instruction on monthly instalments is available
Effective 2/1/2015, the bank will use the Base Rate to price all NEW retail floating rate loans/financing facilities applications.
Reference rates for existing loans under the Ideal Mortgage peg to MLR and Standard Housing Loan peg to BLR will not be impacted.
The effective lending rate for a standard 30 years housing loan of RM350,000 is 4.95% (wef 1/4/2015)
Introduction of New Reference Rate - Base Rate