KUALA LUMPUR, Nov 3 — Malayan Banking Bhd (Maybank) will revise upwards its standardised base rate (SBR), base rate (BR) and base lending rate (BLR) by 25 basis points (bps) effective November 7, 2022, following the Overnight Policy Rate (OPR) hike announced today.
Earlier, Bank Negara Malaysia raised the OPR by 25 bps to 2.75 per cent, the fourth consecutive hike since May this year, as the central bank’s Monetary Policy Committee decided to further adjust the degree of monetary accommodation.
In a statement, Maybank said its SBR and BR would be increased to 2.75 per cent per annum from 2.50 per cent per annum, while its BLR would be revised to 6.40 per cent per annum from 6.15 per cent per annum.
“Similarly, the Islamic SBR and BR will be increased by 25 bps from 2.50 per cent per annum to 2.75 per cent per annum, respectively, while the Islamic base financing rate will be increased from 6.15 per cent per annum to 6.40 per cent per annum,” it said.
In line with the revision, Maybank and Maybank Islamic’s fixed deposit rates will also be adjusted upwards, effective November 7, 2022.
Maybank said the last revision in its BR was on September 12, 2022, when it was increased from 2.25 per cent per annum to 2.50 per cent per annum following an OPR increase by the same quantum. — Bernama
Source: Malay Mail