KUALA LUMPUR – Banks are revising their reference rates following Bank Negara Malaysia’s (BNM) overnight policy rate (OPR) hike to 2.75% from 2.50% announced today.
RHB Banking Group and Public Bank Bhd will revise upwards their standardised base rate (SBR), base rate (BR), and base lending rate (BLR) by 25 basis points (BPS).
In a statement, RHB Bank Bhd said its SBR will increase to 2.75% from 2.50%, BR to 3.50% per annum (PA) from 3.25%, as well as its BLR to 6.45% PA from 6.20%.
In a separate statement, Public Bank said its new SBR will be 2.75%, while the BR will increase to 3.27% from 3.02% and the BLR will increase to 6.47% from 6.22%.
In line with the revision, RHB Bank, RHB Islamic Bank, and Public Bank’s fixed deposit rates will also be revised upwards.
In another statement, Affin Bank Bhd said Affin Bank, Affin Islamic Bank Bhd, and Affin Hwang Investment Bank Bhd will also revise their loan and financing reference rates upward by 25 BPS while Affin Bank Fixed Deposit and Affin Islamic Term Deposit-i Board rates will also be adjusted upwards.
Revisions will come into effect next Monday (November 7) for all of these financial institutions. – Bernama, November 3, 2022
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