KUALA LUMPUR: Malayan Banking Bhd (Maybank) will revise upwards its standardised base rate (SBR), base rate (BR) and base lending tate (BLR) by 25 basis points effective from May 8.

Maybank said this followed the announcement today on the overnight policy rate (OPR) increase by Bank Negara Malaysia.

"Maybank's SBR and BR will be increased from 2.75 per cent per annum (p.a.) to 3.00 per cent p.a while its BLR will be revised from 6.40 per cent p.a. to 6.65 per cent p.a. 

"Similarly, the Islamic SBR and BR will be increased by 25 basis points from 2.75 per cent p.a. to 3.00 per cent p.a. respectively while the Islamic base financing rate will be increased from 6.40 per cent p.a to 6.65 per cent p.a," it said in a statement today.

In line with the revision, the bank said Maybank and Maybank Islamic's fixed deposit rates will also be adjusted upwards effective from May 8.

The last revision in Maybank's Base Rate was on November 7, 2022 when it was increased from 2.50 per cent p.a. to 2.75 per cent p.a. following an OPR increase by the same quantum.

https://www.nst.com.my/business/2023/05/905394/maybank-revise-interest-rates-following-opr-hike