StanChart cuts rates by 25bps

TheStar Fri, Jan 24, 2020 02:31pm - 4 years View Original


Abrar A. Anwar, managing director and CEO StanChart Malaysia said the policy rate reduction indicated Bank Negara's proactive stance to support growth.

KUALA LUMPUR: Standard Chartered Malaysia is lowering the rates for its lending, financing and fixed deposit by 25 basis points, effective Jan 30.

It said on Friday its base rate will be lowered from 3.52% per annum to 3.27% per annum while its base lending rate will be revised from 6.70% to 6.45% per annum.

StanChart's fixed deposits and term deposits-i interest rates/profit rates will be lowered by 0.25% per annum across all tenors.

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