![Free Malaysia Today](/_next/image/?url=https%3A%2F%2Fmedia.freemalaysiatoday.com%2Fwp-content%2Fuploads%2F2022%2F11%2Fcimb-n-cimb-islamic-logo-041122.jpg&w=3840&q=75)
Both banks said they would raise their rates by 25 basis points (bps).
BNM announced yesterday that it has raised the OPR by 0.25% to 2.75%, the fourth time this year.
CIMB and CIMB Islamic said the increase applied to the standardised base rate (SBR), base rate (BR) and fixed deposit / fixed return income account-i board rates for the Islamic bank.
Similarly, all lending facilities based on the base lending rate (BLR) and base financing rate (BFR) will also be raised by 0.25% each.
The new rates will take effect on Nov 8.
Stay current - Follow FMT on WhatsApp, Google news and Telegram