KUALA LUMPUR: RHB Banking Group has revised its base rate (BR) and base lending rate (BLR) downwards by 20 basis points effective today, in line with the reduction in the overnight policy rate (OPR) by Bank Negara Malaysia.
Subsequently, RHB Bank Bhd, RHB Islamic Bank Bhd and RHB Investment Bank Bhd will reduce its BR from 4.00 per cent to 3.80 per cent per annum, and will also revise the BLR from 6.95 per cent to 6.75 per cent per annum.
The bank said in line with the revision, RHB Bank’s fixed deposit rates will also be revised downwards by 20 basis points, effective 13 May 2019.
On May 7, Monetary Policy Committee of Bank Negara decided to reduce the OPR, the first cut in three years, at its meeting.
The ceiling and floor rates of the corridor for the OPR are correspondingly reduced to 3.25 per cent and 2.75 per cent respectively.