Dear Valued Customers,
With effect from 13 September 2022, the Standardised Base Rate (SBR) shall be applied on all new, refinanced and renewed floating rate retail financing facilities. The SBR is benchmarked against Bank Negara Malaysia (BNM)’s Overnight Policy Rate (OPR), in line with the revised Reference Rate Framework (RRF) by BNM.
Nevertheless, Base Rate (BR) and Base Financing Rate (BFR) will continue to be applied on existing financing that are priced against the BR and BFR throughout the tenure of the financing.
The SBR, BR and BFR will move exactly in tandem with the OPR changes. The summary of the current reference rates are as follows:-
|Rate Type||Reference Rate|
|Standardised Base Rate (SBR)||2.50%|
|Base Rate (BR)||3.31%|
|Base Financing Rate (BFR)||6.31%|
*Subject to changes in OPR effective 13 September 2022.