Maybank to raise lending, deposit rates by 25 basis points effective Nov 7
03 Nov 2022 07:40pm
The announcement was made after Bank Negara raised the OPR by 25 bps to 2.75 per cent, the fourth consecutive hike since May this year, as the central bank’s Monetary Policy Committee decided to further adjust the degree of monetary accommodation.
Earlier, Bank Negara Malaysia raised the OPR by 25 bps to 2.75 per cent, the fourth consecutive hike since May this year, as the central bank’s Monetary Policy Committee decided to further adjust the degree of monetary accommodation.
In a statement, Maybank said its SBR and BR would be increased to 2.75 per cent per annum from 2.50 per cent per annum, while its BLR would be revised to 6.40 per cent per annum from 6.15 per cent per annum.
"Similarly, the Islamic SBR and BR will be increased by 25 bps from 2.50 per cent per annum to 2.75 per cent per annum, respectively, while the Islamic base financing rate will be increased from 6.15 per cent per annum to 6.40 per cent per annum," it said.
In line with the revision, Maybank and Maybank Islamic’s fixed deposit rates will also be adjusted upwards, effective Nov 7, 2022.
Maybank said the last revision in its BR was on Sept 12, 2022, when it was increased from 2.25 per cent per annum to 2.50 per cent per annum following an OPR increase by the same quantum. - Bernama
