{"id":18237,"date":"2022-09-26T04:29:07","date_gmt":"2022-09-25T20:29:07","guid":{"rendered":"https:\/\/www.comparehero.my\/blog\/uncategorized\/how-will-the-opr-hike-affect-your-finances.html"},"modified":"2026-03-26T15:59:35","modified_gmt":"2026-03-26T07:59:35","slug":"how-will-the-opr-hike-affect-your-finances","status":"publish","type":"post","link":"https:\/\/www.comparehero.my\/blog\/economy-markets\/how-will-the-opr-hike-affect-your-finances.html","title":{"rendered":"How Will The OPR Hike Affect Your Finances?"},"content":{"rendered":"\n

When the world was affected by the COVID-19 pandemic, Bank Negara Malaysia (BNM) reduced the Overnight Policy Rate (OPR) to a historic low of 1.75% to boost the economy and avoid recession.

Read more: 2020 OPR Cuts: What Does This Mean For Malaysians?<\/span>
<\/a><\/p>\n\n

Now that the world is slowly recovering and everything is going back to \u2018normal\u2019, BNM continues to adjust the OPR to reduce inflationary pressures. So what does that mean to us? Before we go into details, let\u2019s recap on what OPR is.<\/p>\n

OPR is an overnight interest rate set by BNM. It can affect employment, economic growth, and inflation. It is also an indicator of the health of a country’s overall economy and banking system. <\/p>\n

A rise in OPR would mean that banks will increase the base lending rate (BLR) and base financing rate (BFR) because a rise would directly influence both. BLR is the rate that is determined by conventional banks based on the cost of lending to consumers. While BFR is a rate determined by Islamic banks based on the cost of lending to consumers.<\/p>\n

Therefore the rise of OPR will result in a higher interest rate or profit rate for loans that are tagged to BLR or BFR. For example: Assuming that a loan has a BLR of 6.60%.  A 0.25% hike in OPR will then increase BLR from 6.60% to 6.85%.<\/p>\n

Let\u2019s dive a little deeper into how the OPR hike will affect your finances.<\/p>\n


Effect of OPR hike #1: You\u2019ll be paying higher interest rates on your loan<\/strong><\/p>\n

\"FI_What_is_OPR_and_How_Will_It_Affect_Your_Finances-02\"<\/strong><\/p>\n

Do you have any loans with a floating interest rate policy? As the name suggested, floating or variable interest rates can change according to economic or financial conditions. So, whenever the OPR hikes up, will your loan interest? This then will increase your monthly installment payments!<\/p>\n

Check out simple calculations done here<\/span><\/strong><\/a> to better understand how the OPR hike will cause you to pay more interest!

Effect of OPR hike #2: Longer loan tenures<\/strong><\/p>\n

\"FI_What_is_OPR_and_How_Will_It_Affect_Your_Finances-05\"<\/strong><\/p>\n

Alternatively, if you feel that you cannot commit to higher monthly payments, you can opt for a longer loan tenure instead.

If you choose to extend your loan tenure, note that you\u2019ll be paying higher interest rates for your loan and if you want to increase your monthly payment, it means that you\u2019ll need to re-work your cash flow. <\/p>\n

Whatever your choice is, make sure to think about your decisions thoroughly as it will affect your finances in the long run. <\/p>\n

Effect of OPR hike #3: You\u2019ll earn more from savings and fixed deposits!<\/strong><\/p>\n

\"FI_What_is_OPR_and_How_Will_It_Affect_Your_Finances-04\"<\/strong><\/p>\n

Finally, some good news! If you have savings and are investing in fixed deposits, you\u2019ll notice a better return on your investments as interest rates on these accounts will increase as well.<\/p>\n

Thinking about investing in fixed deposits? Read this article to find out about 4 different fixed deposit alternatives in Malaysia<\/span><\/a>!<\/p>\n

Related: Updates on OPR by BNM<\/span><\/a><\/p>\n

Effects of OPR hike #4: Harder to get loans from banks<\/strong><\/p>\n

\"FI_What_is_OPR_and_How_Will_It_Affect_Your_Finances-01\"<\/strong><\/p>\n

Another negative impact of the OPR hike is it’s harder to obtain any financial aid from banks as they have to tighten the prerequisite requirements to approve loans. This is because the loan interest rate increases as the OPR increase. <\/p>\n

BNM will continue to adjust the OPR carefully and strategically to support the country’s growth and as consumers who may or may not be affected by this measure, we should at least understand to prepare our finances for any possibility in the future. <\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

When the world was affected by the COVID-19 pandemic, Bank Negara Malaysia (BNM) reduced the Overnight Policy Rate (OPR) to a historic low of 1.75% to boost the economy and avoid recession. Read more: 2020 OPR Cuts: What Does This Mean For Malaysians?<\/p>\n","protected":false},"author":268230141,"featured_media":1446,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_coblocks_attr":"","_coblocks_dimensions":"","_coblocks_responsive_height":"","_coblocks_accordion_ie_support":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_wpcom_ai_launchpad_first_post":false,"_jetpack_hide_featured_image":false,"_jetpack_featured_image_duplicate_dismissed":0,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"{title}\n\n{excerpt}\n\n{url}","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"_wpas_customize_per_network":false,"jetpack_post_was_ever_published":false},"categories":[437],"tags":[],"class_list":["post-18237","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy-markets"],"yoast_head":"\nHow Will The OPR Hike Affect Your Finances? - CompareHero<\/title>\n<meta name=\"description\" content=\"BNM continues to adjust the OPR to reduce inflationary pressures. 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But as a Malaysian, what does this mean for you? If you haven\u2019t already heard, Bank Negara Malaysia (BNM) has decided to maintain the Overnight Policy Rate (OPR) at 1.75%,\u2026","rel":"","context":"In "Economy & Markets"","block_context":{"text":"Economy & Markets","link":"https:\/\/www.comparehero.my\/blog\/economy-markets"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/rpstagingdot.wpcomstaging.com\/wp-content\/uploads\/2026\/02\/bnm-maintains-opr1.jpg?fit=1200%2C628&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/rpstagingdot.wpcomstaging.com\/wp-content\/uploads\/2026\/02\/bnm-maintains-opr1.jpg?fit=1200%2C628&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/rpstagingdot.wpcomstaging.com\/wp-content\/uploads\/2026\/02\/bnm-maintains-opr1.jpg?fit=1200%2C628&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/rpstagingdot.wpcomstaging.com\/wp-content\/uploads\/2026\/02\/bnm-maintains-opr1.jpg?fit=1200%2C628&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/rpstagingdot.wpcomstaging.com\/wp-content\/uploads\/2026\/02\/bnm-maintains-opr1.jpg?fit=1200%2C628&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":17606,"url":"https:\/\/www.comparehero.my\/blog\/economy-markets\/opr-changes-impact-malaysians.html","url_meta":{"origin":18237,"position":1},"title":"2020 OPR Cuts: What Does This Mean For Malaysians? [UPDATED]","author":"CompareHero","date":"8 February 2020","format":false,"excerpt":"Updated 22 Jan 2020. The OPR is an overnight interest rate set by BNM. It is a rate a borrower bank has to pay to a leading bank for the funds borrowed. The OPR, in turn, has an effect on employment, economic growth and inflation. It is an indicator of\u2026","rel":"","context":"In "Economy & Markets"","block_context":{"text":"Economy & Markets","link":"https:\/\/www.comparehero.my\/blog\/economy-markets"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/rpstagingdot.wpcomstaging.com\/wp-content\/uploads\/2026\/02\/OPR-Changes.jpg?fit=930%2C487&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/rpstagingdot.wpcomstaging.com\/wp-content\/uploads\/2026\/02\/OPR-Changes.jpg?fit=930%2C487&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/rpstagingdot.wpcomstaging.com\/wp-content\/uploads\/2026\/02\/OPR-Changes.jpg?fit=930%2C487&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/rpstagingdot.wpcomstaging.com\/wp-content\/uploads\/2026\/02\/OPR-Changes.jpg?fit=930%2C487&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":18169,"url":"https:\/\/www.comparehero.my\/blog\/economy-markets\/how-to-take-advantage-of-lower-opr.html","url_meta":{"origin":18237,"position":2},"title":"How Malaysians Can Take Advantage Of The Lower Overnight Policy Rate (OPR)","author":"CompareHero","date":"3 November 2020","format":false,"excerpt":"Bank Negara Malaysia (BNM) announced another Overnight Rate Policy (OPR) cut, making it the fourth reduction for 2020 on 7th July 2020. As a Malaysian, how can this low interest affect you in the best way? Here are 6 savvy ways on how you can take advantage of this lower\u2026","rel":"","context":"In "Economy & Markets"","block_context":{"text":"Economy & Markets","link":"https:\/\/www.comparehero.my\/blog\/economy-markets"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/rpstagingdot.wpcomstaging.com\/wp-content\/uploads\/2026\/02\/how-to-take-advantage-of-low-opr.jpg?fit=1200%2C628&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/rpstagingdot.wpcomstaging.com\/wp-content\/uploads\/2026\/02\/how-to-take-advantage-of-low-opr.jpg?fit=1200%2C628&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/rpstagingdot.wpcomstaging.com\/wp-content\/uploads\/2026\/02\/how-to-take-advantage-of-low-opr.jpg?fit=1200%2C628&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/rpstagingdot.wpcomstaging.com\/wp-content\/uploads\/2026\/02\/how-to-take-advantage-of-low-opr.jpg?fit=1200%2C628&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/rpstagingdot.wpcomstaging.com\/wp-content\/uploads\/2026\/02\/how-to-take-advantage-of-low-opr.jpg?fit=1200%2C628&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":18739,"url":"https:\/\/www.comparehero.my\/blog\/loans\/business-adapt-covid-19.html","url_meta":{"origin":18237,"position":3},"title":"Why Your Business Must \u2018Adapt Or Die\u2019 During COVID-19","author":"CompareHero","date":"31 May 2021","format":false,"excerpt":"As a business owner, you know that adapting to changes is more important now than ever before. COVID-19 has accelerated transformation in the way we work today.\u00a0 There is less foot traffic in physical stores as consumers prefer online shopping during the pandemic. So if you plan to evolve, stay\u2026","rel":"","context":"In "Loans"","block_context":{"text":"Loans","link":"https:\/\/www.comparehero.my\/blog\/loans"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/rpstagingdot.wpcomstaging.com\/wp-content\/uploads\/2026\/02\/business-adapt-covid-19.jpg?fit=1200%2C628&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/rpstagingdot.wpcomstaging.com\/wp-content\/uploads\/2026\/02\/business-adapt-covid-19.jpg?fit=1200%2C628&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/rpstagingdot.wpcomstaging.com\/wp-content\/uploads\/2026\/02\/business-adapt-covid-19.jpg?fit=1200%2C628&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/rpstagingdot.wpcomstaging.com\/wp-content\/uploads\/2026\/02\/business-adapt-covid-19.jpg?fit=1200%2C628&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/rpstagingdot.wpcomstaging.com\/wp-content\/uploads\/2026\/02\/business-adapt-covid-19.jpg?fit=1200%2C628&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":18001,"url":"https:\/\/www.comparehero.my\/blog\/economy-markets\/cimb-ocbc-rhb-reduce-base-lending-rates.html","url_meta":{"origin":18237,"position":4},"title":"CIMB, OCBC, & RHB Reduces Their Base Rates & Base Lending Rates","author":"CompareHero","date":"26 August 2019","format":false,"excerpt":"Responding to the move of Bank Negara\u2019s reduction of the OPR to 3%, CIMB, OCBC, and RHB are reducing their own base rates and base lending rates (BLR) by as low as 0.25%. This move will see lower loan interest rates and, unfortunately, lower fixed deposit rates as well. CIMB\u2026","rel":"","context":"In "Economy & Markets"","block_context":{"text":"Economy & Markets","link":"https:\/\/www.comparehero.my\/blog\/economy-markets"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/rpstagingdot.wpcomstaging.com\/wp-content\/uploads\/2026\/02\/CIMB-OCBC-RHB-Reduces-Their-Base-Rates-Base-Lending-Rates.jpg?fit=1200%2C628&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/rpstagingdot.wpcomstaging.com\/wp-content\/uploads\/2026\/02\/CIMB-OCBC-RHB-Reduces-Their-Base-Rates-Base-Lending-Rates.jpg?fit=1200%2C628&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/rpstagingdot.wpcomstaging.com\/wp-content\/uploads\/2026\/02\/CIMB-OCBC-RHB-Reduces-Their-Base-Rates-Base-Lending-Rates.jpg?fit=1200%2C628&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/rpstagingdot.wpcomstaging.com\/wp-content\/uploads\/2026\/02\/CIMB-OCBC-RHB-Reduces-Their-Base-Rates-Base-Lending-Rates.jpg?fit=1200%2C628&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/rpstagingdot.wpcomstaging.com\/wp-content\/uploads\/2026\/02\/CIMB-OCBC-RHB-Reduces-Their-Base-Rates-Base-Lending-Rates.jpg?fit=1200%2C628&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":17996,"url":"https:\/\/www.comparehero.my\/blog\/sme\/term-investment-account-fixed-deposit-cimb.html","url_meta":{"origin":18237,"position":5},"title":"CIMB Is Introducing A New Term Investment Account That’s Perfect For SMEs In Malaysia!","author":"CompareHero","date":"9 November 2021","format":false,"excerpt":"If you\u2019ve ever wondered what happens when a bank runs out of funds, the bank will actually borrow from another financial institution. When banks borrow from each other like this, they are charged what is known as an overnight policy rate (OPR). 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