Hong Leong Bank, Hong Leong Islamic Raise Lending Rates

KUALA LUMPUR, July 14 (Bernama) -- Hong Leong Bank Bhd (HLB) and Hong Leong Islamic Bank Bhd (HLISB) will raise their Basic Lending Rate (BLR) and Islamic Financing Rate (IFR) respectively by 25 basis points to 6.85 per cent from 6.60 per cent effective July 16, 2014.

Concurrently, HLBB and HLISB's Fixed Deposit (FD) and Term Deposit-i (TD-i) will be revised upwards by up to 25 basis points.

The new FD and TD-i rates for one, six and 12 months will be increased to 3.05 per cent, 3.20 per cent, and 3.30 per cent, respectively.

The move follows Bank Negara Malaysia's Overnight Policy Rate (OPR) hike by 25 basis points to 3.25 per cent on July 10, 2014.

In a statement Monday, Group Managing Director, Tan Kong Khoon said that both HLBB and HLISB will continue to work closely with its customers to address all their financing and savings needs.


We provide (subscription-based) 
news coverage in our
Newswire service.