CIMB to raise financing rates by 0.25% effective May 9

KUALA LUMPUR: CIMB Bank Bhd and CIMB Islamic Bank Bhd said effective May 9, 2023, their respective standardised base rate, base rate and fixed deposit/fixed return income Account-i board rates will be increased by 25 basis points.

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

The banking group said in a statement the increase is in line with Bank Negara's increase in the overnight policy rate by 25 basis points to 3% on May 3, 2023.