KUALA LUMPUR: CIMB Bank Bhd and CIMB Islamic Bank Bhd will effect a corresponding 25 basis points (bps) reduction in their base rate (BR) and fixed deposit/fixed return income account-i board rates in line with Bank Negara Malaysia’s Overnight Policy Rate reduction of 25bps from 2.00% to 1.75% today.
“Similarly, all financing facilities based on base lending rate (BLR) and base financing rate (BFR) will be reduced by 0.25%. All rate changes will take effect on July 13, 2020,“ CIMB said in a statement.
RHB Banking Group also revised its BR and BLR downwards by 25bps effective July 13, 2020.
“RHB Bank Bhd, RHB Islamic Bank Bhd and RHB Investment Bank Bhd will reduce its BR from 2.75% to 2.50% per annum, and will also revise the BLR from 5.70% to 5.45% per annum,“ RHB said.
