In a survey by StarBiz on conventional and non-conventional banks, the promotional rates offered were on average 100 basis points higher than the rates displayed on the boards. Among the highest promotional rate being offered by a conventional bank is Malayan Banking Bhd that is offering 4.5% per annum for a 12-month tenure, with the offer valid until Nov 30.
Current prevailing approval rates are significantly lower than 2015's 48% and the five-year historical average of 51%.
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