KUALA LUMPUR, Sept 8 — Malayan Banking Bhd (Maybank) will revise upwards its standardised base rate (SBR), base rate (BR) and base lending rate (BLR) by 25 basis points (bps) effective September 12, 2022, following the overnight policy rate (OPR) hike announced today.

Bank Negara Malaysia raised the OPR by 25 bps to 2.50 per cent at its fifth Monetary Policy Committee meeting today, the third consecutive 25 bps OPR hike this year, bringing the year-to-date increase to 75 bps.

In a statement today, Maybank said its SBR and BR would be increased to 2.5 per cent per annum (p.a) from 2.25 per cent p.a, while its BLR revised to 6.15 per cent p.a from 5.90 per cent.

"Similarly, the Islamic SBR and BR will be increased by 25 basis points to 2.50 per cent p.a from 2.25 per cent p.a respectively, while the Islamic base financing rate will be increased to 6.15 per cent p.a from 5.90 per cent p.a,” it said.

In line with the revision, Maybank and Maybank Islamic’s fixed deposit rates will also be adjusted upwards, effective September 12, 2022, it added.

Maybank said the last revision in its BR was on July 8, 2022, when the rate was increased to 2.25 per cent p.a from 2.00 per cent p.a following an OPR increase by the same quantum. — Bernama