OCBC to decrease BR, BLR, BFR & FD board rates by 0.25% effective 13 May 2019
In line with Bank Negara Malaysia’s recent 0.25% Overnight Policy Rate (OPR) decrease, OCBC Bank (Malaysia) Berhad (OCBC Bank) and its subsidiary, OCBC Al-Amin Bank Berhad, (collectively, OCBC Malaysia) will correspondingly decrease their Base Rate (BR), Base Lending Rate (BLR) and Base Financing Rate (BFR) by 0.25% effective 13 May 2019.
All loans and financing rates based on BLR and BFR will correspondingly decrease by the same rate. Similarly, all conventional fixed deposit and Islamic time deposit board rates will also decrease by 0.25% on the same day.
With the above, OCBC Malaysia’s BR decreases from 4.08% to 3.83%, and its BLR/BFR from 7.01% to 6.76%.
Commenting on the revision, Dato’ Ong Eng Bin, Chief Executive Officer of OCBC Bank said the full transmission of the decrease in rates in tandem with the OPR drop will benefit all OCBC Malaysia customers who have loans or financing pegged to the BR, BLR or BFR.