Malaysia’s HP loan interest rate to go up 1%

I have been receiving news from various sources that the interest rate for HP loan will be going up 1% next week. So to anyone who’s still thinking or deciding on your car purchase, i think you will have to speed up the decision making, fast! 1% is quite a lot, assuming if it’s RM60k loan, you will need to pay RM600 extra every year. And lets not forget the interest rate for Proton cars, which is around 3.8% previously. With the current increase, that means the interest rate will go up to 4.8%?

So head over to the car dealer office now to pay up the deposit… hehe…