Alliance raises interest rates to match new OPR

Alliance raises interest rates to match new OPR

New rates will be applicable from Sept 14.

Alliance Bank will also adjust its fixed deposit rates upwards.
PETALING JAYA:
In line with the decision by Bank Negara Malaysia (BNM) to raise the overnight policy rate (OPR) by 25 basis points (bps) yesterday, Alliance Bank Malaysia Bhd will adjust its standardised base rate (SBR) upwards by the same margin.

In a statement issued to the media today, the bank said the new rate would take effect on Sept 14.

The bank will, accordingly, raise its base rate (BR), base lending rate (BLR) and base financing rate by 25 bps.

It said the SBR would be applicable only to its new retail floating-rate loans and financing facilities secured from Aug 1.

However, the revised BR, BLR and financing rate would apply to all existing loans and financing that had been pegged to their respective reference rates.

The SBR has been set at 2.5% per annum and the BR would now be 3.07% to 3.32% per annum. The BLR and financing rate would be revised from 5.92% to 6.17%, it said.

“In tandem with the revision, the bank will also adjust its fixed deposit rates upwards on the same effective date,” it added.

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