Maybank Cuts BLR to 6.5% - Downward Revision Fully Benefits Borrowers
Maybank Group announced today a revision to the Bank’s base lending rate (BLR) by 25 basis points from 6.75% to 6.5% effective 1 December 2008 following the downward revision of the Overnight Policy Rate by Bank Negara Malaysia.
The base financing rate (BFR) of Maybank Islamic Berhad is also revised downward by 25 basis points from 6.75% to 6.5% effective 1 December 2008.
Maybank President and CEO Dato’ Sri Abdul Wahid Omar said, "This move will see borrowers benefiting immediately as interest rates of all loans pegged to the Bank’s BLR will also be adjusted accordingly. It is a decisive step to the advantage of our borrowers as well as a means to spur economic and business growth for the various sectors."
He added that both Maybank and Maybank Islamic will continue to review the market environment and leverage on its core strengths to provide customers more avenues for financial support in these difficult times.