KUALA LUMPUR: OCBC Bank (M) Bhd and its subsidiary OCBC Al-Amin Bank Bhd will increase their base lending rates (BLR) and base financing rates (BFR) effective July 16.
This follows the increase in the Overnight Policy Rate (OPR) by 25 basis points.
The banks said in a statement that the BLR and BFR will be revised upward to 6.85 per cent per annum from 6.60 per cent previously.
Meanwhile, the mortgage lending rate, the alternative to the BLR for home loans, will also be increased to 5.70 per cent per annum from 5.45 per cent.-- Bernama