Maybank reduces BLR to 5.95%

Maybank today announced that its Base Lending Rate (BLR) will be reduced by 55 basis points from 6.5% to 5.95% effective 3 February 2009. The revision takes into account the reduction in the floor rate of the 1 and 12 months fixed deposits by 50 basis points and the reduction in Overnight Policy Rate (OPR) by 75 basis points. This is aimed at enabling the Bank’s borrowers to enjoy the immediate benefit from the overall lower cost of funding.

The base financing rate (BFR) of Maybank Islamic Berhad will similarly be revised downwards from 6.5% to 5.95% effective 3 February 2009.

Read the full news here.

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