Maybank reduces BLR to 5.55pc

MALAYAN Banking Bhd (Maybank) announced today that its base lending rate (BLR) will be reduced from 5.95 per cent to 5.55 per cent effective March 2, 2009.

The base financing rate (BFR) of Maybank Islamic Bhd will similarly be revised downwards from 5.95 per cent to 5.55 per cent from the same date, the bank said in a statement.

Maybank president and chief executive officer Datuk Seri Abdul Wahid Omar said the revision will enable all borrowers with loans pegged to the BLR to enjoy lower instalments on their repayments.

He said the lower cost of funding will be of benefit to consumers as well as business customers, and will support the government’s efforts to ensure that the domestic economy remained resilient amid the current global economic difficulties.
"We are also constantly monitoring the needs of our customers and will ensure that they receive the necessary support and assistance during this period," Wahid said.

The last revision in BLR and BFR of Maybank and Maybank Islamic was on February 3, 2009 when the rates were reduced from 6.5 per cent to 5.95 per cent. - Bernama

1 comment

February 26, 2009 at 4:34 PMtan

is there any other bank reducing their BLR?