CIMB to raise base rates by 0.25% from May 9

KUALA LUMPUR (May 5): CIMB Bank Bhd and CIMB Islamic Bank Bhd will increase their respective standardised base rates, base rates and fixed deposit/fixed return income Account-i board rates by 25 basis points effective from May 9.

In a statement on Friday (May 5), the banking group said the increase is in line with the increase in the overnight policy rate by 25 basis points by Bank Negara Malaysia to 3% on Wednesday.

Similarly, all financing facilities based on the base lending rate and base financing rate will be increased by 0.25%.