PETALING JAYA: The country’s top banks have lowered their base lending rates, following the cut in the Overnight Policy Rate (OPR) by Bank Negara. Among the banks that announced the lower Base Rate (BR) and Base Lending Rate (BLR)/Base Financing Rate (BFR) was Public Bank, which cut the rates 0.25% effective Jan 28. It added that the Islamic Base Rate and Base Financing Rate would be reduced by 25 basis points to 2.75 and 6.40% per annum respectively.“In line with the revision, Maybank’s deposit rates will also be adjusted downwards by 25 basis points effective the same day, ” it said. Meanwhile, RHB Banking Group said its BR and BLR would be revised downwards by 25 basis points effective next Wednesday. RHB Bank’s fixed deposit rates will also fall by 25 basis points in line with the revision.

Source: The Star January 23, 2020 22:41 UTC