KUALA LUMPUR: Hong Leong Bank and Hong Leong Islamic Bank will increase their standardised base rate (SBR) to 2.50%, effective Sept 13.
The base rate (BR) and Islamic base rate (IBR) will also be revised to 3.38% from 3.13% previously.
"Similarly, loans and financing based on the base lending rate (BLR) and Islamic Financing Rate (IFR) will be revised to 6.39% from 6.14%,” it said in a statement.
The adjustments are in line with Bank Negara's recent 0.25% overnight policy rate hike, Hong Leong said in a statement.
Meanwhile, OCBC Bank (Malaysia) Bhd and its Islamic banking subsidiary OCBC Al-Amin Bank Bhd will increase their SBR, BR and BLR/ base financing rate (BFR) by 0.25%, effective Sept 14, 2022.
"All loans and financing rates based on SBR, BR and BLR/BFR will correspondingly increase by the same rate,” it said.
OCBC said the SBR will increase to 2.50% from 2.25%, BR will rise to 3.33 per cent from 3.08 per cent and the BLR/BFR will be higher at 6.26% from 6.01% previously.
Similarly, all conventional fixed deposit and Islamic time deposit board rates will also increase by 0.25% on the same day, it said.
