OCBC Bank Ups BLR To 5.80 Per Cent

KUALA LUMPUR, March 10 (Bernama) -- OCBC Bank (Malaysia) Bhd and its subsidiary, OCBC Al-Amin Bank Bhd, will increase their base lending rate (BLR) and base financing rate (BFR) to 5.80 per cent effective Thursday.

Their previous BLR and BFR were 5.55 per cent per annum.

The bank said the increase followed the upward revision of Bank Negara's Overnight Policy Rate (OPR) last Thursday.

The central bank raised the OPR by 25 basis points to 2.25 per cent from the current 2.0 per cent.

OCBC's mortgage lending rate, the alternative to BLR for home loans, will also be raised to 4.65 per cent per annum, said OCBC Bank in a statement today.

Customers will also enjoy increases in deposit rates to as high as 30 basis points for deposit placements of three to 11 months and over 12 months.

OCBC Bank Director and Chief Executive Officer Jeffrey Chew said the OPR upward revision clearly affirmed the growth momentum in the economy, a good sign for the banking industry and commerce, the bank added.

-- BERNAMA






So how much you guys are forking out extra?

Ya.

Never in Malaysia history we could get BLR -1.8% or below.
My parents generation are mostly BLR + X% interest.