Maybank to increase lending, deposit rates effective Sept 12

KUALA LUMPUR: Malayan Banking Bhd (Maybank) will revise upwards its standardised base rate (SBR), base rate (BR) and base lending rate (BLR) by 25 basis points effective Sept 12, following the announcement on the overnight policy rate (OPR) increase.

Maybank, in a statement, said its SBR and BR would be increased from 2.25% per annum (p.a) to 2.50% p.a. while its BLR would be revised from 5.90% p.a to 6.15% p.a.

Similarly, the Islamic SBR and BR will be increased by 25 basis points from 2.25% p.a. to 2.50% p.a. while the Islamic base financing rate will be increased from 5.90% p.a to 6.15% p.a. respectively.

In line with the revision, Maybank and Maybank Islamic’s fixed deposit rates will also be adjusted upwards effective Sept 12.

The last revision in Maybank’s Base Rate was on July 8 when it was increased from 2.00% p.a. to 2.25% p.a. following an OPR increase by the same quantum.