KUALA LUMPUR (Sept 8): Bank Negara Malaysia's (BNM) Monetary Policy Committee (MPC) raised the overnight policy rate (OPR) by 25 basis points (bps) to 2.5% on Thursday (Sept 8), bringing the benchmark interest rate closer to the pre-pandemic level of 3.0%.

With the increase, the ceiling and floor rates of the OPR's corridor have also increased to 2.75% and 2.25% respectively.

Banks also announced their new lending rates following the OPR revision.

Check out our list of their new lending rates below. We will be updating the list as more banks announce their rates.

RHB Banking Group

RHB Banking Group will revise its standardised base rate (SBR), base rate (BR) and base lending or financing rate (BLR/BFR) upwards by 25bps effective Sept 12.

The group’s RHB Bank Bhd, RHB Islamic Bank Bhd and RHB Investment Bank Bhd will increase their SBR from 2.25% to 2.50%, BR from 3.00% to 3.25% per annum, and BLR/BFR from 5.95% to 6.20% per annum, it said in a statement on Thursday.

It added that RHB Bank and RHB Islamic Bank’s fixed deposit rates will also be amended upwards.

Maybank

Malayan Banking Bhd (Maybank) will raise its SBR, BR and BLR upwards by 25bps effective Sept 12, according to a statement from the group.

Both the group’s SBR and BR will be raised from 2.25% per annum to 2.50% per annum, while its BLR will be increased from 5.90% per annum to 6.15% per annum.

Similarly, the bank's Islamic SBR and BR will be raised by 25bps from 2.25% per annum to 2.50% per annum, while the Islamic BFR will be increased from 5.90% per annum to 6.15% per annum.

In line with the revisions, Maybank and Maybank Islamic’s fixed deposit rates will also be adjusted upwards from Sept 12.

The group said the last revision in Maybank’s BR was on July 8, when it was increased from 2% per annum to 2.25% per annum, following BNM’s OPR increase by the same quantum on July 6.

Affin Bank

Affin Bank Bhd said in a statement that the bank and its units Affin Islamic Bank Bhd and Affin Hwang Investment Bank Bhd will revise their loan or financing reference rates upwards by 25bps effective Sept 12.

It said that Affin Bank's fixed deposit and Affin Islamic's term deposit-i board rates will also be adjusted upwards from Sept 12.

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Bank Negara raises OPR by 25bps to 2.5%, as expected