RHB Bank lowers lending, FD rates by 0.2%

The bank is considering selling its 17-storey location in the city-state

KUALA LUMPUR: RHB Banking Group has lowered its base rate (BR) and base lending rate (BLR) downwards by 20 basis points or 0.2% effective on Monday.

RHB Bank Bhd, RHB Islamic Bank Bhd and RHB Investment Bank Bhd will reduce its BR from 4% to 3.80% per annum, and will also revise the BLR from 6.95% to 6.75% per annum. 

In line with the revision, RHB Bank’s fixed deposit rates will also be revised downwards by 20 basis points.

The lowering of the lending and fixed deposit rates was in line with the reduction in the Overnight Policy Rate (OPR) by the monetary policy committee of Bank Negara Malaysia. 

Last week, the central bank  reduced the OPR by 25 basis points to 3% from 3.25%.