KUALA LUMPUR: Malayan Banking Bhd (Maybank) has reduced its base rate (BR) and base lending rate (BLR) by an additional five basis points to 3.00 per cent and 6.65 per cent respectively, effective immediately.
The revision is Maybank’s second after Bank Negara Malaysia cut in the overnight policy rate (OPR) last week.
In a statement today, Maybank said similarly, its Islamic BR and base financing rate (BFR) would be reduced by another five basis points to 3.00 per cent and 6.65 per cent respectively.
Last week, Maybank became the first bank to lower its BR and BLR in line with Bank Negara’s cut in OPR to 3.00 per cent from 3.25 per cent.
Maybank group president and chief executive officer Datuk Abdul Farid Alias said the bank had been offering the lowest BR and BLR among commercial banks in the country for some time now at 3.25 per cent and 6.90 per cent respectively.
On May 8, Maybank lowered its BR by 20 basis points to 3.05 per cent to 3.25 per cent while its BLR was revised to 6.70 per cent from 6.90 per cent.
It also reduced the Islamic BR and base financing rate by 20 basis points to 3.05 per cent from 3.25 per cent and to 6.70 per cent from 6.90 per cent respectively.