Maybank, RHB, Affin revising reference rates following OPR hike

 

KUALA LUMPUR: Malayan Banking Bhd (Maybank), RHB Banking Group and Affin Bank Bhd are revising their reference rates after Bank Negara raised the overnight policy rate (OPR) to 2.25% from 2% on Wednesday.

In a statement today, Maybank said it would revise upwards its base rate (BR) and base lending rate (BLR) by 25 basis points effective July 8.

“Maybank’s BR will be increased from 2% per annum (p.a.) to 2.25% p.a. while its BLR will be revised from 5.65% p.a to 5.90% p.a,” the bank said.

Its Islamic BR and base financing rate (BFR) will be increased by 25 basis points from 2% p.a. to 2.25% p.a. and from 5.65% p.a to 5.90% p.a. respectively.

In line with the revision, Maybank and Maybank Islamic’s fixed deposit rates will also be adjusted upwards effective July 8.

In a separate statement, RHB said it would revise its BR and BLR/BFR upwards by 25 basis points effective July 13.

"RHB Bank Bhd, RHB Islamic Bank Bhd and RHB Investment Bank Bhd will increase its BR from 2.75% to 3.00% p.a, and will also revise the BLR/BFR from 5.70% to 5.95% p.a," it said.

In line with the revision, RHB Bank and RHB Islamic Bank’s fixed deposit rates will also be revised upwards effective the same date.

Meanwhile, Affin Bank Bhd, Affin Islamic Bank Bhd and Affin Hwang Investment Bank will revise their loan/financing reference rates upward by 0.25% effective July 8.

“In line with the revision, Affin Bank fixed deposit and Affin Islamic Bank Term Deposit-i Board Rates will also be adjusted upwards, effective July 8," it said. - Star