Seven domestic banks have announced details of their lending rate hikes!
The National Bank (Bank Negara) announced on September 8 an increase in the overnight policy rate (OPR), that is, from 2.25% to 2.50%. Bank Negara’s rate hike will also lead to higher lending rates and time deposit rates for domestic banks.
As of September 9, seven banks have announced increases in the Base Rate and the Base Lending Rate. The seven banks are Maybank, RHB, CIMB, Public Bank, Affinbank, Alliancebank, and Bank Muamalat.
If you have borrowed money to buy a house, then you should pay attention to your mortgage rate. As banks increase mortgage rates, your monthly mortgage payments will also increase. As for the latest approved car loan rates, they will also increase, while the old car loans will not be affected.
If you are a time deposit depositor, you can enjoy higher interest rates on your deposits.
Bank Muamalat
SBR: 2.50%
BR: 3.31%
BLR: 6.31%
Effective date: September 13, 2022
Alliance Bank
SBR: 2.50%
BR: 3.32%
BLR: 6.17%
Effective Date: September 14, 2022
CIMB
SBR: 2.50%
BR: 3.50%
BLR: 6.35%
Effective Date: September 13, 2022
Public BankSBR: 2.50%
BR: 3.02%
BLR: 6.22%
Effective Date: September 12, 2022
Affin Bank
SBR: 2.50%
BR: 3.25%
BLR: 6.20%
Effective date: September 12, 2022
Maybank
SBR: 2.50%
BR: 2.50%
BLR: 6.15%
Effective date: September 12, 2022
RHB
SBR: 2.50%p.a.
BR: 3.25%p.a.
BLR: 6.20%p.a.
Effective date: September 12, 2022
