Kuala Lumpur: CIMB Bank and CIMB Islamic Bank today announced that they will increase their Base Lending Rate (BLR) and Base Financing Rate (BFR) by 25 basis points from 5.55% to 5.80% with effect from Tuesday, 9 March 2010. The change in rates follows Bank Negara Malaysia’s (BNM) decision to increase the Overnight Policy Rate (OPR) by 25 basis points on Thursday, 4 March 2010.

The Bank also announced that savings and fixed deposit rates will also be increased by up to 25 basis points.

“We are supportive of BNM’s move to normalise interest rate as the economy regains stability and are immediately transmitting it to both savers and borrowers,” said Dato’ Sri Nazir Razak, Group Chief Executive, CIMB Group.