Hong Leong Bank raises base and financing rates

KUALA LUMPUR: Hong Leong Bank and Hong Leong Islamic Bank is revising higher its standardised base rate to 2.75%, effective from Nov 8, 2022.

It said its Base Rate and Islamic Base Rate will be increased to 3.63% from 3.38%,

Similarly, loans and financing based on the Base Lending Rate (BLR) and Islamic Financing Rate (IFR) will be revised to 6.64% from 6.39%.

The banking group said in a statement the adjustment in rates is in line with the latest Bank Negara upward revision to its overnight policy rate by 25bps.