Standard Chartered Bank Malaysia Berhad is introducing two new financing rates structures - MortgageKLIBOR and OptiOverdraft, where a mortgage and standby credit facility are pegged to the three-month Kuala Lumpur Inter-bank Offered Rate*.

By pegging to the real inter-bank rate, rather than at the discretion of the industry, consumers get a clear, transparent view of interest rates. Francis Loh, General Manager of Consumer Lending, Standard Chartered Bank Malaysia Berhad said: “With our new financial solutions, we are cutting through the confusion by taking the guess work out of interest rates.”

The key features of MortgageKLIBOR and OptiOverdraft are greater saving in financing rates, higher margin in financing, rate protection and transparency.

*KLIBOR rates are derived from the activities of borrowing and lending of funds between banks.