IS Malaysia new housing loan rate lower than current one?

My friend from Singapore just bought a new condo in Spore recently, He told me he got a lower interest loan rate from SIBOR home loan package in Spore. I also heard that Malaysia is going to start a new housing loan rate quite similar to SIBOR. Anyone can share more info about this?

Are you talking about the KLIBOR??

SIBOR = Singapore Interbank Offered Rate
KLIBOR = Kuala Lumpur Interbank Offered Rate

Actually the concept is almost the same is just name different in different country.
KLIBOR is the interest rate which banks and financial institution in Malaysia borrow from each other.
The KLIBOR is the average rate of the KLIBOR from 12 bank appointed by BNM.
The KLIBOR rate will revise daily by 11am and we can get the rate at daily newspaper as well.

:smiley:

BNM announce BLR no longer relevant by next year and will replaced with KLIBOR .
governor Tan Sri Dr Zeti Akhtar Aziz saidIn the recent period BLR as a reference rate for the pricing of loans has become less relevant now,to know more detail u can refer to this http://www.theedgeproperty.com/news-a-v … ework.html

BNM announce BLR no longer relevant by next year and will replaced with KLIBOR .governor Tan Sri Dr Zeti Akhtar Aziz saidIn the recent period BLR as a reference rate for the pricing of loans has become less relevant now,to know more detail u can refer to this http://www.theedgeproperty.com/news-a-v … ework.html

Well, there are few bank in Malaysia which offer KLIBOR housing loan, but no matter what, starting from next year all will be KLIBOR loh, no more BLR loan.

Yes Luster, is true that the Bank Negara Malaysia will replace the current BLR housing loan with KLIBOR start 2015
Here is the news for your reference
http://www.theedgemalaysia.com/in-the-e … -year.html

i never expect that there is forum to talk about KLIBOR loan … i feel so glad that i can get KLIBOR info at here.
last week i went to Hong Leong Bank and ask about getting home loan for my property
The Sales Advisor introduce me 2 package of home loan and they are Conventional Loan and also KLIBOR Loan.
He brieftly explain to me the differences of these two loan, but i feel that it is complicated…
can anyone tell me which loan is better?

Wonder which package to take la, 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.
found that for rate wise there is not much different.
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. fattywinnie@yahoo.com

Starting 2015 there will just KLIBOR loan and the BLR loan can start ready to be phase out…
Since the KLIBOR is more regulated in future due to it is aligned to bank negara’s direction so you should listen to BNM as well…
Seem no one is going to border about the BLR loan so do u think ppl will care about the BLR rate in future??
If you want me to choose in between the conventional loan and KLIBOR i will choose KLIBOR for sure

how come all loan interest rate suddenly change to KLIBOR by 2015? BLR no good? that means next year if i apply home loan then i must attached with KLIBOR package.
right now the KLIBOR rate is how much? if i want to know the latest rate where can i find it?
now i understand that KLIBOR rate changes daily that means interest rate for KLIBOR home loan rate will change daily as well,this is too risky.

As I understand, KLIBOr home loan wil update every 3 mths, it is calculated as below:The first 3 mths KLIBOR rate was fix at the business day immediately before the loan disbursement date. The following 3 mths rate will be calculate base on the last day of that 3 mths period. If you want to know more, can always ask Standard chartered bank or Hong Leong bank staff abut KLIBOr loan.

As I understand, KLIBOr home loan wil update every 3 mths, it is calculated as below:The first 3 mths KLIBOR rate was fix at the business day immediately before the loan disbursement date. The following 3 mths rate will be calculate base on the last day of that 3 mths period. If you want to know more, can always ask Standard chartered bank or Hong Leong bank staff abut KLIBOr loan.

[quote=“gaokopi”]Starting 2015 there will just KLIBOR loan and the BLR loan can start ready to be phase out…
Since the KLIBOR is more regulated in future due to it is aligned to bank negara’s direction so you should listen to BNM as well…
Seem no one is going to border about the BLR loan so do u think ppl will care about the BLR rate in future??
If you want me to choose in between the conventional loan and KLIBOR i will choose KLIBOR for sure[/quote]
im really agree that gonna choose the KLIBOR loan as start from 2015, BLR will phase out loh…
BNM feel the KLIBOR is more aligned to their direction so will use that.
Just think of you wanna buy a car, new model and old model that ready to phase out which you gonna choose???
Dont you afraid later u buy the old model cannot get spare part in future??
So pls be wise that in future the Perhaps the possibility that KLIBOR will be more regulated because it’s aligned to bank negara’s direction?
But for BLR, nobody will know how the rate will be later on.

i am thinking to get home loan from Hong Leong to… pls advice

KLIBOR: http://loanstreet.com.my/learning-centre/KLIBOR-Home-Loans-Explained

more fluctuation i guess......

Does the Base Rate fluctuate because of the GST? I am planning to buy a new house for marriage planning but the Base Rate is my biggest concern now for my personal housing loan…Should I apply for loan before or after the GST being implemented?

GST is definitely an important source of revenue for government where these revenues will be used to develop our country in every aspects. I believe that if you guys are worry about how BR works, maybe you guys can try to take Islamic loan.

From the link given, KLIBOR seems to have lower interest rate.

But then since everyone opt-in into that, won’t the rate increase to the point BLR rate nowadays as well?

wgn_white said:
From the link given, KLIBOR seems to have lower interest rate.

But then since everyone opt-in into that, won't the rate increase to the point BLR rate nowadays as well?
yeah but now is BR take over...since is taking average value from all the bank, i think they will control the rate to avoid it increase too high
fyi BR starts from 2/1/2015 onwards :smile:
this is new so guess the banks will maintain it as low as possible
what's your say bro?