Following Bank Negara decision to raise Overnight Policy Rate (OPR) by 25 basis points to 2.5% last week, some banks in Malaysia start to revise up their Base Lending Rate (BLR) and Base Financing Rate (BFR).
This is the second time in 2010 that Malaysian have to bear the burden of higher interest rate. The first increase was implemented in March 2010.
Maybank, CIMB Bank, Public Bank, RHB Bank and Bank Islam have increased their BLR & BFR by 25 basis point to 6.05% from 5.80% previously. Other bank will follow suit.
On the positive side, deposit rate such as fixed deposit and savings account rate will also benefited from the hike. CIMB & Maybank have confirm this & the rate will be increased by a similar quantum.
If you are looking for the latest BLR & BFR Rates for banks in Malaysia, I have created a new page called Latest BLR & BFR Rates.