Interest rates · OPR
OPR Rate Malaysia 2026: Current Rate, History & Mortgage Impact
By Threenity Capital · Reviewed
Current OPR: 2.75%
BNM maintained the Overnight Policy Rate at 2.75% on 3 September 2026, the latest listed decision checked on 12 October 2026. This is a dated reference, not a live feed or a mortgage offer.
Check BNM’s official OPR decisions →What is OPR, and how is it different from SBR?
OPR is Bank Negara Malaysia’s monetary-policy benchmark. SBR follows that benchmark for the floating-rate retail financing covered by the SBR framework. Your effective rate is the applicable reference rate plus or minus the adjustment in your contract—not the OPR alone.
An existing BR-, BLR- or BFR-linked loan does not automatically switch to SBR. Read our SBR, BR and BLR comparison and check your own offer letter.
OPR rate history: 2020–2026
This table lists rate-changing decisions since January 2020 plus the latest checked hold. It does not list every meeting. Source: BNM’s decision history.
| Decision date | OPR | Change (percentage points) |
|---|---|---|
| 22 Jan 2020 | 2.75% | −0.25 |
| 3 Mar 2020 | 2.50% | −0.25 |
| 5 May 2020 | 2.00% | −0.50 |
| 7 Jul 2020 | 1.75% | −0.25 |
| 11 May 2022 | 2.00% | +0.25 |
| 6 Jul 2022 | 2.25% | +0.25 |
| 8 Sep 2022 | 2.50% | +0.25 |
| 3 Nov 2022 | 2.75% | +0.25 |
| 3 May 2023 | 3.00% | +0.25 |
| 9 Jul 2025 | 2.75% | −0.25 |
| 3 Sep 2026 | 2.75% | Unchanged |
How much could a 0.25-point change affect my mortgage?
Compare the same principal and 30-year term at three hypothetical effective rates. The 4.00% middle column is a modelling assumption, not the current OPR or a quoted market rate.
| Principal | 3.75% p.a. | 4.00% p.a. | 4.25% p.a. |
|---|---|---|---|
| RM200,000.00 | RM926.23 | RM954.83 | RM983.88 |
| RM400,000.00 | RM1,852.46 | RM1,909.66 | RM1,967.76 |
| RM500,000.00 | RM2,315.58 | RM2,387.08 | RM2,459.70 |
| RM700,000.00 | RM3,241.81 | RM3,341.91 | RM3,443.58 |
Calculated using monthly amortisation: P × r ÷ [1 − (1 + r)−n], where r = annual percentage rate ÷ 1,200 and n = months. Assumes an unchanged rate throughout, no fees, no insurance/takaful financing and no extra repayments. Actual daily-rest bank calculations and rounding may differ.
When does the change reach my instalment?
Follow your lender’s notice. Maybank’s July 2025 mortgage FAQ shows why the policy decision, reference-rate effective date and revised monthly payment can occur on different dates. Do not change a standing instruction until the bank confirms the payment due.
Should I wait for an OPR cut or refinance now?
Do not base a decision on an assumed future rate cut. Ask your existing bank about its revised rate and any repricing option. Then compare a new offer using the same remaining term, all switching costs and your expected time holding the property.
Use the refinancing break-even example to separate monthly cash-flow relief from total savings. A longer term can reduce instalments while increasing overall cost.
Frequently asked questions
What is the current OPR rate in Malaysia?
The latest BNM decision listed when this guide was reviewed on 12 October 2026 was 3 September 2026: the OPR remained at 2.75%. Check BNM’s decision page for subsequent changes.
Does an OPR cut automatically mean refinancing saves money?
No. Your existing floating-rate loan may also benefit from the cut. Compare its revised rate with a new written offer on the same balance and remaining term, after switching costs.
Will the OPR go up or down next?
A future decision is not known in advance. This guide does not forecast the OPR. Test your budget at higher effective rates as well as the rate currently offered.
When will my monthly instalment change?
Check your bank’s rate-revision notice and repayment schedule. The OPR decision date, the bank’s rate-effective date and the first revised instalment date are not necessarily the same.
Compare your own refinancing plans
A preliminary summary is free. No IC or phone number is needed for the summary; an advisor request is optional.
Check refinance eligibility →