Standard Chartered M'sia raises base rate by 25bps from Feb 5

KUALA LUMPUR (Feb 6): Standard Chartered Malaysia and its Islamic subsidiary Standard Chartered Saadiq raised their base rate (BR), base lending rate (BLR) and base financing rate (BFR) by 0.25% or 25 basis points (bps).

This means their new BR is 3.77%, while their BLR and BFR were revised to 6.95%. The change took effect from Feb 5.

They also raised their fixed deposit (FD) rates by between 20bps and 25bps, on the same day.

In a statement today, the group said the rate increase follows Bank Negara Malaysia's decision to raise the overnight policy rate by 25bps last month.

"While there will be an increase in FD rates, our customers can continue to enjoy good returns from their savings. The Standard Chartered Privilege Savings Account, for example, gives you the flexibility to enjoy bonus interest up to 4.25% p.a. for Personal Banking Clients or up to 5% per annum (p.a.) for Priority Banking Clients when you save, spend, pay, invest and insure," said Standard Chartered Malaysia's managing director and chief executive officer Abrar Anwar. — theedgemarkets.com

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