CIMB’s BR will be reduced from 4.1% to 3.9% per annum and its Base Lending Rate/Base Financing Rate (BLR/BFR), decreased from 6.95% to 6.75% per annum effective July 22, 2016.

As a result, all loans/financing pegged to BR/BLR/BFR will be adjusted accordingly. In line with this change, CIMB’s deposit rates will be revised downwards by up to 20 basis points.

Tengku Zafrul Aziz, Group Chief Executive, CIMB Group said, “Bank Negara’s preemptive decision to reduce the OPR is both timely and strategic, given the current challenges faced by the domestic economy due to possible spillover effects from global uncertainties.

“We support this accommodative monetary policy that encourages investments and is favourable to borrowers and consumers to improve prospects moving forward. This cut will also reduce the risk of external imbalances, in view of the general decline in global interest rates.”