OCBC Malaysia ups base rate by 25bps from Feb 2

KUALA LUMPUR (Jan 29): OCBC Bank (Malaysia) Bhd and its subsidiary OCBC Al-Amin Bank Bhd will increase their base rate from 3.83%, base lending rate (BLR) and base financing rate (BFR) from 6.76% by 25 basis points or 0.25%, starting Feb 2.

In a statement today, OCBC said all its loans and financing based on BLR and BFR respectively will correspondingly increase by the same rate.

"Similarly, all fixed deposit board rates will also increase by 0.25% the same day," it added.

The move is in line with Bank Negara Malaysia's overnight policy rate (OPR) hike by 25 basis points to 3.25% last week, OCBC said. — theedgemarkets.com

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