Normally It takes about 30 years for the public to pay off the house loan. Therefore, we must research around to find out which bank has the lowest interest on the home loan that can enable us save a lot of money.
Don’t underestimate the difference between a few percentage of the interest, there will be extra cost in 30 years. For example, the loan is suppose 500,000, if the interest provided by A bank is 4.50%, and the B bank provides 5.00%. Although the difference is only 0.5% of the district, it will eventually have to be spend with an amount of more than RM35,000.
Here attached with interest rates on the latest home loans of various banks in Malaysia, including BR (basic interest rate), BLR (basic lending rate) and effective interest rate (Indicative Effective Lending Rate), which will be used as reference by people to applying for loans.
