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Hong Leong Bank, Bank Islam reduce rates

KUALA LUMPUR: Hong Leong Bank Bhd (HLB) and Hong Leong Islamic Bank Bhd (HLISB) will be reducing the base rate (BR) and Islamic Base Rate (IBR) to 2.88 per cent from 3.38 per cent in line with Bank Negara Malaysia's reduction in Overnight Policy Rate (OPR) by 50 basis points (bps).

Both banks said loans and financing based on the base lending rate (BLR) and Islamic Financing Rate (IFR) will be lowered to 5.89 per cent from 6.39 per cent.

The board rates of its fixed deposits will be revised lower by 50 bps as well.

Continue Reading: https://www.nst.com.my/business/2020/05/590613/hong-leong-bank-bank-islam-reduce-rates