CIMB to raise interest rates following OPR hike

KUALA LUMPUR: CIMB Bank Bhd and CIMB Islamic Bank Bhd will implement a 25 basis points (bps) increase in their standardised base rate (SBR), base rate (BR) and fixed deposit/fixed return income account-i board rates.

According to the bank, all financing facilities based on the base lending rate (BLR) and base financing rate (BFR) will be increased by 0.25%.

"All rate changes will take effect on Nov 8, 2022," it said in a statement.

The decision to raise interest rates follows Bank Negara's 25 bps hike in the overnight policy rate yesterday.