Malaysian Banks Revise Base Rates, FD Rates Following OPR Hike
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(Image: The Malaysian Reserve)

(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

(Image: The Star)
 Rates Before OPR Hike (%)New Rates (%)
Base Rate (BR)2.702.95
Base Lending Rate (BLR)/Base Financing Rate (BFR)5.565.81

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

Agrobank

agrobank
(Image: The Malaysian Reserve)
Rates Before OPR Hike (%)New Rates (%)
Base Rate (BR)2.352.60
Base Lending Rate (BLR)/Base Financing Rate (BFR)5.505.75

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

Alliance Bank

Alliance Bank
Rates Before OPR Hike (%)New Rates (%)
Base Rate (BR)2.572.82
Base Lending Rate (BLR)/Base Financing Rate (BFR)5.425.67

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)2.602.85
Base Lending Rate (BLR)/Base Financing Rate (BFR)5.455.70

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

Bank Islam

bank islam 1
(Image: The Malaysian Reserve)
Rates Before OPR Hike (%)New Rates (%)
Base Rate (BR)2.522.77
Base Lending Rate (BLR)/Base Financing Rate (BFR)5.475.72

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

Bank Muamalat

bank muamalat
(Image: The Malaysian Reserve)
Rates Before OPR Hike (%)New Rates (%)
Base Rate (BR)2.562.81
Base Lending Rate (BLR)/Base Financing Rate (BFR)5.565.81

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

Bank Rakyat

bank rakyat
(Image: The Star)
Rates Before OPR Hike (%)New Rates (%)
Base Rate (BR)2.602.85
Base Lending Rate (BLR)/Base Financing Rate (BFR)5.585.83

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

Bank Simpanan Nasional

bsn
(Image: The Edge Markets)
Rates Before OPR Hike (%)New Rates (%)
Base Rate (BR)2.602.85
Base Lending Rate (BLR)/Base Financing Rate (BFR)5.355.60

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

CIMB Bank

(Image: Bloomberg)
 Rates Before OPR Hike (%)New Rates (%)
Base Rate (BR)2.753.00
Base Lending Rate (BLR)/Base Financing Rate (BFR)5.605.85

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

Citi

(Image: Bloomberg/Samsul Said)
Rates Before OPR Hike (%)New Rates (%)
Base Rate (BR)2.402.65
Base Lending Rate (BLR)/Base Financing Rate (BFR)5.555.80

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

Hong Leong Bank

(Image: The Star)
Rates Before OPR Hike (%)New Rates (%)
Base Rate (BR)2.632.88
Base Lending Rate (BLR)/Base Financing Rate (BFR)5.645.89

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

HSBC Bank

(Image: Malay Mail/Hari Anggara)
Rates Before OPR Hike (%)New Rates (%)
Base Rate (BR)2.392.64
Base Lending Rate (BLR)/Base Financing Rate (BFR)5.495.74

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

Maybank

Maybank
(Image: The Star)
 Rates Before OPR Hike (%)New Rates (%)
Base Rate (BR)1.752.00
Base Lending Rate (BLR)/Base Financing Rate (BFR)5.405.65

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

MBSB Bank

mbsb
(Image: The Malaysian Reserve)
Rates Before OPR Hike (%)New Rates (%)
Base Rate (BR)2.652.90
Base Lending Rate (BLR)/Base Financing Rate (BFR)5.505.75

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

OCBC Bank

ocbc
Rates Before OPR Hike (%)New Rates (%)
Base Rate (BR)2.582.83
Base Lending Rate (BLR)/Base Financing Rate (BFR)5.515.76

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)2.272.52
Base Lending Rate (BLR)/Base Financing Rate (BFR)5.475.72

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

RHB Bank

rhb-1
(Image: The Borneo Post)
 Rates Before OPR Hike (%)New Rates (%)
Base Rate (BR)2.502.75
Base Lending Rate (BLR)/Base Financing Rate (BFR)5.455.70

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

Standard Chartered

(Image: Global Business Outlook)
Rates Before OPR Hike (%)New Rates (%)
Base Rate (BR)2.272.52
Base Lending Rate (BLR)/Base Financing Rate (BFR)5.455.70

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

UOB

(Image: Bernama)
Rates Before OPR Hike (%)New Rates (%)
Base Rate (BR)2.612.86
Base Lending Rate (BLR)/Base Financing Rate (BFR)5.575.82

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.

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