IS Malaysia new housing loan rate lower than current one?

Discussion in 'Malaysia property' started by milotan, May 26, 2014.

  1. milotan

    milotan New Member

    My friend who isa Singaporean told me he recently just bought a new condo at Singapore, according to him, hee manage to get at lower interest rate through SIBOR housing loan.And I also heard that Malaysia also going to start a new housing loan which about the same like SIBOr, an anyone share with me more details?
  2. totallyproperty

    totallyproperty Administrator Staff Member

    I hope this helps:-

    SIBOR Rates – 23 May 2014

    1 Month 0.35784
    3 Month 0.40376
    6 Month 0.48054
    12 Month 0.59499


    1D KLIBOR 3.000
    1M KLIBOR 3.150
    2M KLIBOR 3.320
    3M KLIBOR 3.440
    6M KLIBOR 3.470
    9M KLIBOR 3.490
    1Y KLIBOR 3.510
  3. ooihuan

    ooihuan New Member

    there is no more BLR lah.. Bank Negara already announce BLR no longer relevant by next year and will replaced with KLIBOR. check this out klse.i3investor/blogs/rhb/45052.jsp]Banks - New Reference Rate Framework For Banks - RHB Research | I3investor
  4. meimei22

    meimei22 New Member

    Right now, there are banks that offer KLIBOR loan too, you can find out from them. But starting 2015, all BLR rate housing loan will change to KLIBOR loan.
  5. volvo

    volvo New Member

    if "KLBOR" no bring me here, i will never know forum also got talk about KLIBOR loan.
    my husband and i want to buy a new house and we went to Hong Leong Bank.
    the sales advisor recommend me two packages of home loan,Conventional Loan and KLIBOR Loan.
    although he got explain to me the differences for these two loan, i still feel everything is so complicated.
    can anyone teach me how to choose the better loan?
  6. vicopg

    vicopg New Member

    I am still looking at this 2 packages,duno which is the best final rate to me. To me, I see base on past 2 years history, BLR -2.5% and KLIBOR + 1% rate are abt the same right now. If I count base on my home loan at RM300,000, I only save a cup of Starbuck coffee, which is not significant at all.
  7. sabun

    sabun New Member

    Starting from 2015, no more BLR in market loh, who took BLR now seem to be phase out..
    Since the BNM already feel the KLIBOR more relevant to market and aligned with the BNM direction, BLR seem no body will care about and rate on BLR i think never got ppl wanna know loh!!
    So if i were you, now is time to take the KLIBOR housing loan de
  8. raylee

    raylee New Member

    is this true?really no more BLR and all change to KLIBOR by 2015? luckily i know earlier because next year i wan to apply home loan and that time i need to attach with KLIBOR package already. the current rate of KLIBOR high or low? where can i obtain the latest KLIBOR rate?
    if i not mistaken KLIBOR rate changes daily that means interest rate for KLIBOR home loan rate also follow to change too, so risky lah.
  9. socky

    socky New Member

    If am nt wrong, the rate for KLIBOR will updated every 3 mths. Basically, the first rate will be counted base on the date just before the disbursement of the KLIBOR loan. Whereas the next 3 mths rate will be calculated base on the last business day for that 3 mth periods. Well, at the moment, only Standard Chartered Bank or Hong Leong Bank offer klibor loan, you can always dropby to find out more if u interested to know.
  10. yeeyee

    yeeyee New Member

    Sabun, you are right, as start 2015, the BNM decide to phase out the BLR and will use the KLIBOR which is more aligned to BNM direction.
    Let say you going buy a car, new model and old model that gonna phase out, which will you choose??
    Sure confirm is new model, if choose old model later spare part also hard to get..
    Now the KLIBOR aligned with BNM direction so will more regulated in future..
    In another hand, no one will know what is the rate for BLR
  11. vicopg

    vicopg New Member

    Recently I bought a house, I was told to get klibor loan, but I am actually a bit worry abt this KLIBOR, what if the rate goes up. I may have problem to pay more monthly installment.
    I have talk to Hong Leong bank home loan officer, they advice me on this matter.
    According to them, let said I started the loan at 1july 2014, assume the klibor rate is 3.67% at 1 july 2014 and monthly installment is RM1500 for 30 years. For the first 3 mths, the interest rate would be stick to 3.67% until 1 Oct 14. Let’s said 1Oct 14, the rate increase to 3.7%,
    it actually did not affect my monthly installment, I still pay RM1500 per mth,
    according to the bank officer, worse come to worse, if the rate keep going up, the worse case is I have to pay in longer tenure, but it won’t affect my monthly amount to pay.
    If economic damn bad, I may need to pay longer like 35 years or more.
    If the economic is good, I still pay RM1500/mth, the extra money save from the interest will offset the principal loan, which I may end up pay shorter than 35 years.

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