KUALA LUMPUR: CIMB Bank Bhd and CIMB Islamic Bank Bhd will reduce their lending and deposit rates by 25 basis points effective July 14.
The bank said that its standardised base rate (SBR) as well as its fixed deposit and fixed return income account-i board rates will be reduced by 25 basis points.
Similarly, all financing facilities based on base lending rate (BLR) and base financing rate (BFR) will be reduced by 0.25%. All rate changes will take effect on July 14.
Meanwhile, Bank Muamalat Malaysia Bhd will also revise its SBR, base rate (BR), and base financing rate (BFR) by 25 basis points to 2.75% per annum, 3.56% per annum, and 6.56% per annum respectively.
The revised rates will take effect on July 14 and will apply to all floating-rate financing packages linked to the SBR, BR, and BFR.
In line with the decrease in SBR, BR and BFR, Bank Muamalat’s fixed term account-i (FTA-i) deposit rates will also be revised accordingly.
