Tuesday, July 13, 2010

AmBank Group revises lending, deposit rates

KUALA LUMPUR: AmBank Group revised its base lending rate (BLR), base financing rate (BFR) and deposit rates effective Tuesday, July 13.

The banking group said these revisions were made after Bank Negara increased the overnight policy rate (OPR) by 25bps to 2.75% last week.

The BLR for AmBank (M) Bhd will increase by 25bps from 6.05% per annum to 6.30% per annum. The BFR for AmIslamic Bank Bhd will increase by 25 bps from 6.05% per annum to 6.30% per annum.

The interest rates paid to customers will increase by the full 25bps in the popular one month to five month fixed deposit tenures. Interest rates for other tenures have also been increased to attract and retain deposits.

"AmBank will continue to monitor the interest rate environment and ensure that its fixed deposit customers continue to benefit from some of the most competitive rates in the market," it said. ''

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