Maybank to increase base rate, BLR


KUALA LUMPUR: Malayan Banking Bhd (Maybank) will revise upwards its base charge (BR) and base lending charge (BLR) by 25 foundation factors efficient July 8, following the announcement at this time on the in a single day coverage charge (OPR) increase.

“Maybank’s BR will be increased from 2.00% per annum (p.a.) to 2.25% p.a. while its BLR will be revised from 5.65% p.a to 5.90% p.a,” the financial institution stated in a press release.

“Similarly, the Islamic BR and base financing rate will be increased by 25 basis points from 2.00% p.a. to 2.25% p.a. and from 5.65% p.a to 5.90% p.a. Respectively,” it added.

In line with the revision, Maybank and Maybank Islamic’s mounted deposit charges will even be adjusted upwards efficient July 8.

The final revision in Maybank’s BR was on May 13 when it was elevated from 1.75% p.a. to 2.00% p.a. following an OPR increase by the identical quantum.

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