Maybank RHB increase BLR & FD rate

Maybank (MBB) and RHB Bank Bhd including  their Islamic banking, increase the financing rates and base lending rate following the overnight policy rate (OPR) hike by Bank Negara Malaysia (BNM) on last 5th May 2011.

Bank Negara Malaysia increase the OPR by 25 basic points from 2.75% to 3% while the statutory reserve requirement (SRR) was raised 100 basic pints to 3%.

Picture from: biz.thestar.com.my

Thus, Maybank and RHB revised their deposit and lending  rates from 11th May 2o11. Both banking groups raised their base financing rates (BFR) and base lending rates (BLR) by 30 basic points from 6.30% to 6.60% respectively.

Meanwhile, the revising of the rates would affect property loan, housing loan or home loan, automobile and hire-purchase loans

However, Maybank and RHB said the deposit rates including fixed deposit rates (FD rate) was now raised to higher rates or return. The new fixed deposit rates both banking groups show as below：

RHB new fixed deposit rates (effective from 11th May 2011):

• 1 to 2 months tenure = 3.05%  (2.75% previously)
• 3 to 5 months tenure = 3.10%  (2.8% previously)
• 6 to 11 months tenure = 3.20% (2.9% previously)
• 12 months tenure = 3.30% (3.1 % previously)

Maybank new fixed deposit rates (effective from 11th May 2011):

• 1 to 2 months tenure = 3.00%
• 3 to 5 months tenure = 3.05%
• 6 to 11 months tenure = 3.10%
• 12 months tenure = 3.15%