CIMB to increase base rate, fixed deposit board rates as of Feb 2

CIMB said today it will increase its Base Rate, Fixed Deposit Board Rates, BLR and BFR effective 2 February 2018.

It said this was in response to BNM’s OPR increase from 3.00% to 3.25%.

Thus, CIMB Bank Berhad and CIMB Islamic Bank Berhad announced their corresponding increases in Base Rate and Fixed Deposit Board Rates by 0.25%.

Similarly, loans and financing based on BLR and BFR respectively will be increased by 0.25%.

BNM yesterday raised its key interest rate for the first time since July 2014, to tap the brakes at a time growth has been robust and inflation creeping up.