Maybank announced that it will raise its lending rates from November 7.
With the National Bank’s announcement on November 3 to increase the Overnight Policy Rate (OPR) by 25 basis points from 2.50% to 2.75%, Maybank has also announced that it will increase its lending rate from November 7, 2022.
According to Maybank’s announcement, the Standardized Base Rate (SBR) will be increased from 2.50% to 2.75%. The base rate (BR) will also be increased from 2.50% to 2.75%. The base lending rate (BLR) will also be increased from 6.15% to 6.40%.
Loan borrowers are urged to check with their respective banks for the latest monthly loan repayments to avoid penalties for defaulting on their loans.
Not only will the interest rate on loans be increased, but the fixed deposit rate at Maybank will also be increased by 0.25% p.a. The effective date is also November 7, 2022.
Maybank
SBR: 2.75%p.a.
BR: 2.75%p.a.
BLR: 6.40%p.a.
Effective date: November 7, 2022
