Alliance to increase lending, deposit rates effective July 13

KUALA LUMPUR: Alliance Bank Malaysia Bhd will raise its base rate (BR), base lending rate (BLR), and base financing rate (BFR) by 25 basis points effective July 13, following Bank Negara’s revision of the overnight policy rate (OPR).

The bank, in a statement, said its BR will be adjusted from 2.82% to 3.07% per annum, and BLR and BFR from 5.67% to 5.92% per annum.

“The revision will apply to all existing loans and/or financing pegged to the BR, BLR, and BFR,” it said.

The bank will also adjust its fixed deposit rates upwards on the same effective date.

In tandem with the revision, the Bank will raise the savings rates for its basic savings account, children savings account and senior savers account, and Alliance SavePlus Account which offers customers higher savings rate and transactional flexibility.