Maybank wishes to announce that it will be revising its Base Rate and Base Lending Rate effective 29 January 2018, in line with the increase in the Overnight Policy Rate.
Maybank’s base rate (BR) will be increased by 25 basis points from 3.00% p.a. to 3.25% p.a. while its Base Lending Rate (BLR) will be revised from 6.65% to 6.90% p.a. Similarly, the Islamic Base Rate and Base Financing Rate will be raised by 25 basis points from 3.00% p.a. to 3.25% p.a. and from 6.65% p.a. to 6.90% p.a. respectively.
In line with the revision, Maybank’s fixed deposit rates will also be revised upwards by between 20 basis points to 25 basis points effective 29 January 2018.
Group President & CEO of Maybank, Datuk Abdul Farid Alias said, “We will continue to support our customers to ensure that borrowers are not unduly affected, while at the same time, allowing depositors to receive an appropriate return for their deposits.”
“Our customers can also be assured that the Group will continue to manage our assets and liabilities efficiently to ensure that our interest rates are priced responsibly at all times,” added Datuk Farid.
The last revision in Maybank’s Base Rate was on 15 July 2016 when it was reduced to 3.00% from 3.20%.