CIMB to raise base rate by 0.25% following OPR revision

KUALA LUMPUR: CIMB Bank Bhd and CIMB Islamic Bank Bhd will be increasing their Base Rate and and Fixed Deposit / Fixed Return Income Account-i Board Rates by 0.25 per cent, following Bank Negara Malaysia’s (BNM) announcement of a hike in the overnight policy rate (OPR) yesterday.

BNM has increased the OPR by 25 basis points (bps) to 2.25 per cent during its fourth Monetary Policy Committee meeting for the year.

"Correspondingly, CIMB Bank and CIMB Islamic will implement a 25 bps increase in their Base Rate and Fixed Deposit / Fixed Return Income Account-i Board Rates.

"Similarly, all financing facilities based on the Base Lending Rate (BLR) and Base Financing Rate (BFR) will be increased by 0.25 per cent," it said in a statement today.

All rate changes will take effect starting July 13, 2022. - Bernama

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

CIMB , OPR , Bank Negara Malaysia , BR , BLR , BFR


Next In Business News

Trade showing remains on upward trajectory
Maxis pledges full support to government’s 5G delivery model
Fajarbaru Builder secures RM13mil job
MKH Oil Palm IPO oversubscribed
The pros and cons of earned wage access
Making every load lighter
Making the Malaysian startup pitch
How Sin-Kung leveraged air cargo for its success
Domestic office-sector REITs stay cautious
‘Muted optimism’

Others Also Read