KUALA LUMPUR: OCBC Bank (Malaysia) Bhd and its subsidiary, OCBC Al-Amin Bank Bhd, (collectively, OCBC Malaysia) will correspondingly decrease their base rate (BR), base lending rate (BLR) and base financing rate (BFR) by 0.25% from tomorrow.
In a statement today, OCBC Malaysia said all loans and financing rates based on BR, BLR and BFR will correspondingly decrease by the same rate.
“Similarly, all conventional fixed deposit and Islamic time deposit board rates will also decrease by 0.25% on the same day. With this, OCBC Malaysia’s BR will decrease from 3.83% to 3.58%, and BLR/BFR from 6.76% to 6.51%,” it said.
OCBC Bank CEO Datuk Ong Eng Bin said the full transmission of the decrease in rates in tandem with Bank Negara Malaysia’s reduction in the overnight policy rate will benefit all OCBC Malaysia customers with loans or financing pegged to the BR, BLR or BFR. – Jan 28, 2020, Bernama
