OCBC Malaysia to increase SBR, BR, BLR/BFR by 0.25 pct

KUALA LUMPUR: OCBC Bank (Malaysia) Bhd and its Islamic banking subsidiary OCBC Al-Amin Bank Bhd will be increasing their standardised base rate (SBR), base rate (BR) and base lending rate (BLR)/ base financing rate (BFR) by 0.25 per cent, effective Sept 14, 2022.

This is in line with Bank Negara Malaysia’s recent 0.25 per cent Overnight Policy Rate hike, OCBC Malaysia said in a statement today

“All loans and financing rates based on SBR, BR and BLR/BFR will correspondingly increase by the same rate,” it said.

OCBC Malaysia said the SBR will increase to 2.50 per cent from 2.25 per cent, BR to rise to 3.33 per cent from 3.08 per cent and the BLR/BFR will be higher at 6.26 per cent from 6.01 per cent previously.

Similarly, all conventional fixed deposit and Islamic time deposit board rates will also increase by 0.25 per cent on the same day. – Bernama