PETALING JAYA: CIMB Bank Bhd and CIMB Islamic Bank Bhd will raise their respective interest and lending rates in line with the rise in the overnight policy rate (OPR) announced by Bank Negara Malaysia (BNM) yesterday.
Both banks said they would raise their rates by 25 basis points (bps).
BNM announced yesterday that it has raised the OPR by 0.25% to 2.75%, the fourth time this year.
CIMB and CIMB Islamic said the increase applied to the standardised base rate (SBR), base rate (BR) and fixed deposit / fixed return income account-i board rates for the Islamic bank.
Similarly, all lending facilities based on the base lending rate (BLR) and base financing rate (BFR) will also be raised by 0.25% each.
The new rates will take effect on Nov 8.