What is Base Rate and how it will affect our property loan? 7

From what I know, Base rate already start effective in Jan 2. Anyone know how the thing works and do it have a great impact on our property loan?

Here's some read up - http://loanstreet.com.my/learning-centre/new-reference-rate-malaysia. Hope this helps :-)

Basically Base Rate is more fluctuate than Base Lending Rate, rather than Bank Negara Fixing the Base Lending Rate, Base Rate is revised every three months depending on the economy at that moment. In short, Base Rate will influence by the economy, when economy is good, Base Rate will be lower and the other side.

BNM reduced the OPR rate but CIMB still yet to reduct BR rate. so terrible.

Maybank has just adjusted their BR recently. My loan amount has just been reduced. Yeshhh!

from personal experience, if the interest adjusted does not hit amount installment adjustment amount. The bank will not give you the option to reduce your installment?

However, the good news is you will definitely repay your loan sooner than the initial tenure as you are effectively paying "extra" every month towards your loan principle every month.

@virspirit thanks for sharing