OCBC Malaysia to raise base lending, financing rates by 0.25%

KUALA LUMPUR: OCBC Bank (Malaysia) Bhd and its Islamic banking subsidiary OCBC Al-Amin Bank Bhd will increase their base rate (BR), base lending rate (BLR) and base financing rate (BFR) by 0.25% effective July 13, 2022.

In effect, the bank's BR will increase from 2.83% to 3.08%, and its BLR/BFR from 5.76% to 6.01%.

In a statement, OCBC Bank said this was in line with Bank Negara's recent 0.25% increase in the overnight policy rate (OPR).

It said all loans and financing rates based on BR, BLR and BFR will correspondingly increase by the same rate.

Similarly, all conventional fixed deposit and Islamic time deposit board rates will also increase by 0.25% on the same day.