Maybank has introduced a single board rate for both existing and new Home Loan customers so as to offer full transparency and consistency in view of any future interest rate changes. This board rate is known as Singapore Residential Financing Rate (SRFR) which is currently 3.75% p.a., and is benchmarked against the interbank rates, market conditions and business costs.
Maybank Home Loan interest rates and the late charge payable are referenced against SRFR with effect from 7 May 2007. Existing Maybank Home Loans which are pegged to other Board Rates will be re-aligned and pegged to SRBR. However, the affected Home Loans' effective interest rate and interest payable will not be increased as a result of this realignment exercise.
|