(Updated on 20 May 2022.)

Following Bank Negara Malaysia’s (BNM) decision to increase the overnight policy rate (OPR) from 1.75% to 2.00% yesterday, major banks across Malaysia are also adjusting their base rates (BR) and base lending rates (BLR) to follow suit.

Here are some of the banks that have announced an update to their BR and BLR as of the time of writing. We will continue to update the list as more banks share their revisions.

Affin Bank

	Rates Before OPR Hike (%)	New Rates (%)
Base Rate (BR)	2.70	2.95
Base Lending Rate (BLR)/Base Financing Rate (BFR)	5.56	5.81

Deposit rates will also increase by 0.25%. All new rates will be effective from 13 May 2022 onwards.

Agrobank

	Rates Before OPR Hike (%)	New Rates (%)
Base Rate (BR)	2.35	2.60
Base Lending Rate (BLR)/Base Financing Rate (BFR)	5.50	5.75

Deposit rates will also increase by 0.25%. All new rates will be effective from 17 May 2022 onwards.

Alliance Bank

	Rates Before OPR Hike (%)	New Rates (%)
Base Rate (BR)	2.57	2.82
Base Lending Rate (BLR)/Base Financing Rate (BFR)	5.42	5.67

Deposit rates will also increase by 0.25%. All new rates will be effective from 20 May 2022 onwards.

AmBank

	Rates Before OPR Hike (%)	New Rates (%)
Base Rate (BR)	2.60	2.85
Base Lending Rate (BLR)/Base Financing Rate (BFR)	5.45	5.70

Deposit rates will also increase by 0.25%. All new rates will be effective from 19 May 2022 onwards.

Bank Islam

	Rates Before OPR Hike (%)	New Rates (%)
Base Rate (BR)	2.52	2.77
Base Lending Rate (BLR)/Base Financing Rate (BFR)	5.47	5.72

Deposit rates will also increase by 0.25%. All new rates will be effective from 17 May 2022 onwards.

Bank Muamalat

	Rates Before OPR Hike (%)	New Rates (%)
Base Rate (BR)	2.56	2.81
Base Lending Rate (BLR)/Base Financing Rate (BFR)	5.56	5.81

Deposit rates will also increase by 0.25%. All new rates will be effective from 13 May 2022 onwards.

Bank Rakyat

	Rates Before OPR Hike (%)	New Rates (%)
Base Rate (BR)	2.60	2.85
Base Lending Rate (BLR)/Base Financing Rate (BFR)	5.58	5.83

Deposit rates will also increase by 0.25%. All new rates will be effective from 20 May 2022 onwards.

Bank Simpanan Nasional

	Rates Before OPR Hike (%)	New Rates (%)
Base Rate (BR)	2.60	2.85
Base Lending Rate (BLR)/Base Financing Rate (BFR)	5.35	5.60

Deposit rates will also increase by 0.25%. All new rates will be effective from 20 May 2022 onwards.

CIMB Bank

	Rates Before OPR Hike (%)	New Rates (%)
Base Rate (BR)	2.75	3.00
Base Lending Rate (BLR)/Base Financing Rate (BFR)	5.60	5.85

Deposit rates will also increase by 0.25%. All new rates will be effective from 18 May 2022 onwards.

Citi

	Rates Before OPR Hike (%)	New Rates (%)
Base Rate (BR)	2.40	2.65
Base Lending Rate (BLR)/Base Financing Rate (BFR)	5.55	5.80

Deposit rates will also increase by 0.25%. All new rates will be effective from 18 May 2022 onwards.

Hong Leong Bank

	Rates Before OPR Hike (%)	New Rates (%)
Base Rate (BR)	2.63	2.88
Base Lending Rate (BLR)/Base Financing Rate (BFR)	5.64	5.89

Deposit rates will also increase by 0.25%. All new rates will be effective from 17 May 2022 onwards.

HSBC Bank

	Rates Before OPR Hike (%)	New Rates (%)
Base Rate (BR)	2.39	2.64
Base Lending Rate (BLR)/Base Financing Rate (BFR)	5.49	5.74

Deposit rates will also increase by 0.25%. All new rates will be effective from 20 May 2022 onwards.

Maybank

	Rates Before OPR Hike (%)	New Rates (%)
Base Rate (BR)	1.75	2.00
Base Lending Rate (BLR)/Base Financing Rate (BFR)	5.40	5.65

Deposit rates will also increase by 0.25%. All new rates will be effective from 13 May 2022 onwards.

MBSB Bank

	Rates Before OPR Hike (%)	New Rates (%)
Base Rate (BR)	2.65	2.90
Base Lending Rate (BLR)/Base Financing Rate (BFR)	5.50	5.75

Deposit rates will also increase by 0.25%. All new rates will be effective from 17 May 2022 onwards.

OCBC Bank

	Rates Before OPR Hike (%)	New Rates (%)
Base Rate (BR)	2.58	2.83
Base Lending Rate (BLR)/Base Financing Rate (BFR)	5.51	5.76

Deposit rates will also increase by 0.25%. All new rates will be effective from 18 May 2022 onwards.

Public Bank

	Rates Before OPR Hike (%)	New Rates (%)
Base Rate (BR)	2.27	2.52
Base Lending Rate (BLR)/Base Financing Rate (BFR)	5.47	5.72

Deposit rates will also increase by 0.25%. All new rates will be effective from 13 May 2022 onwards.

RHB Bank

	Rates Before OPR Hike (%)	New Rates (%)
Base Rate (BR)	2.50	2.75
Base Lending Rate (BLR)/Base Financing Rate (BFR)	5.45	5.70

Deposit rates will also increase by 0.25%. All new rates will be effective from 18 May 2022 onwards.

Standard Chartered

	Rates Before OPR Hike (%)	New Rates (%)
Base Rate (BR)	2.27	2.52
Base Lending Rate (BLR)/Base Financing Rate (BFR)	5.45	5.70

Deposit rates will also increase by 0.25%. All new rates will be effective from 19 May 2022 onwards.

UOB

	Rates Before OPR Hike (%)	New Rates (%)
Base Rate (BR)	2.61	2.86
Base Lending Rate (BLR)/Base Financing Rate (BFR)	5.57	5.82

Deposit rates will also increase by 0.25%. All new rates will be effective from 20 May 2022 onwards.

***

To clarify, the base rate (BR) serves as a reference rate from BNM that banks use to decide on the interest rates of your loans and savings. Before 2015, they depended on the base lending rate (BLR) as the benchmark instead. As there are still ongoing loans taken out before 2015 that refer to the BLR, banks are obligated to display both the BR and the BLR.

BNM’s decision to raise the OPR by 25 basis points yesterday marks the first increase to be made since the OPR fell to its historical low of 1.75% in July 2020. Prior to that, the OPR had already suffered three earlier cuts in January, March, and May 2020.

• TAGS:
• Affin Bank
• Base Financing Rate (BFR)
• Base Lending Rate (BLR)
• Base Rate
• CIMB
• CIMB Bank
• Longform
• Maybank
• OPR
• Overnight Policy Rate
• RHB
• RHB Bank