BNM Signals Room to Move OPR; Home Loan Borrowers Should Check
BNM signalled the OPR could move from 2.75%; floating home loans track the change, fixed car loans do not.
- 01/05Photo: CC0 via Openverse
BNM signals room to move the OPR BNM signalled on 15 October that the OPR could move; the rate has held at 2.75% for seven consecutive meetings. 2.75% 02/05
OPR, unchanged for 7 meetings The rate that has not changed Seven meetings, one number. The OPR has sat at 2.75% without a single adjustment. - 05/05
Bottom line A signal is not a rate change Your instalment moves only when BNM actually shifts the OPR and your bank adjusts its base rate. Until then, 2.75% holds.
Questions people ask
Will my home loan payment change if BNM raises the OPR?
Yes, if your loan is floating-rate. The new OPR flows through your bank's base rate (BR or SBR) and adjusts your instalment. Fixed-rate loans are unaffected.
Is a BNM signal the same as a rate change?
No. A signal means BNM sees room to act. Your instalment only changes after BNM officially moves the OPR and your bank updates its base rate.
How do I know if my loan is floating or fixed?
Check your loan agreement. Most home loans in Malaysia are floating-rate tied to the bank's base rate. Most hire-purchase car loans are fixed for the full tenure.
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