KUALA LUMPUR: Standard Chartered Malaysia is effecting a reduction of 25 basis points across its lending, financing and fixed deposit rates effective 30 January 2020. The bank's base rate will be lowered from 3.52 per cent per annum to 3.27 per cent per annum while its base lending rate will be revised from 6.70 per cent to 6.45 per cent per annum. Correspondingly, fixed deposits and term deposits-I interest rates or profit rates will be lowered by 0.25 per cent per annum across all tenors. Islamic base rate and base financing rate will also be reduced to 3.27 per cent per annum and 6.45 per cent per annum respectively from 3.52 per cent and 6.70 per cent previously. Managing director and chief executive officer Abrar A Anwar said the policy rate reduction is an indication of the central bank’s proactive stance to support growth.

Source: New Strait Times January 24, 2020 07:07 UTC