Maybank, RHB, and Public Bank have announced rate increases.
Maybank, RHB, and Public Bank have all announced increases in lending rates that will take effect on November 7, 2022.
The Overnight Policy Rate (OPR) of Bank Negara Malaysia has been raised from 2.50% to 2.75%. Several domestic banks have followed the National Bank’s lead and raised loan and deposit interest rates.
The Standardized Base Rate (SBR) was raised to 2.75% from 2.50%, according to a Maybank announcement. In addition, the Base Lending Rate (BR) will be raised from 2.50% to 2.75%. In addition, the Base Lending Rate (BLR) will be raised from 6.15% to 6.40%.
RHB Bank also announced an increase in the Standardized Base Rate (SBR) from 2.50% to 2.75%, the Base Rate (BR) from 3.25% to 3.50%, and the Base Lending Rate (BLR) from 6.20% to 6.45%.
The Standardised Base Rate (SBR) of Public Bank was raised to 2.75% from 2.50%, the benchmark rate to 3.27% from 3.02%, and the Base Lending Rate (BLR) to 6.47% from 6.22%.
Maybank
SBR: 2.75% p.a.
BR: 2.75% p.a.
BLR: 6.40% p.a.
Effective Date: November 7, 2022
RHB
SBR: 2.75% p.a.
BR: 3.50% p.a.
BLR: 6.45% p.a.
Effective Date: November 7, 2022
Public Bank
SBR: 2.75% p.a.
BR: 3.27% p.a.
BLR: 6.47% p.a.
Effective Date: November 7, 2022
