At least seven banks in the country have announced increases in interest rates on loans and time deposits!
On May 11, the National Bank announced an increase in the overnight policy rate (OPR), that is, from 1.75% to 2.00%. The country’s banks have followed this measure of the National Bank and have increased the interest rates on loans and time deposits.
The banks that have already announced the increase in lending rates are Banco Popular, Affin Bank, CIMB Bank, Bank Islam, Hong Leong Bank, Societe Generale and Maybank.
If you have borrowed money to buy a house, then you need to keep an eye on your mortgage rate. As banks increase mortgage interest rates, your monthly mortgage payments will also increase.
If you are a time deposit holder, you can enjoy a higher interest rate on your deposit.
Public Bank
BR: 2.52%
BLR: 5.72%
Effective date: May 13, 2022
Affin Bank
BR: 2.95%
BLR: 5.81%
Effective date: May 13, 2022
CIMB Bank
BR: 3.00%
BLR: 5.85%
Effective Date: May 18, 2022
Bank Islam
BR: 2.77%
BLR: 5.72%
Effective date: May 17, 2022
Hong Leong Bank
BR: 2.88%
BLR: 5.89%
Effective Date: May 17, 2022
RHB
BR: 2.75%
BLR: 5.70%
Effective date: May 18, 2022
Maybank
BR: 2.00%
BLR: 5.65%
Effective date: May 13, 2022
