OCBC Bank lowers lending and deposit rates

PETALING JAYA: OCBC Bank (M) Bhd and its subsidiary OCBC Al-Amin Bank Bhd are lowering their lending rates and fixed-deposit rates by 0.25% effective today.

This is in tandem with Bank Negara’s recent overnight policy rate cut.

In a statement, OCBC said the group would cut the base rate (BR), base lending rate (BLR) and base financing rate (BFR) by 0.25% effective May 13.

Correspondingly, all loans and financing rates based on BLR and BFR would decrease by the same rate.

OCBC said all conventional fixed deposit and Islamic time-deposit board rates would decrease by 0.25% on the same day.

Source: TheStar