Alliance Bank announces reduction in base rates by 50bps

Alliance Bank Malaysia Berhad (Alliance Bank) has announced that it will reduce its Base Rate (“BR”), Base Lending Rate (“BLR”), and Base Financing Rate (“BFR”) by 50 basis points effective May 15.

The Bank’s Base Rate will be lowered from 3.32 percent p.a. to 2.82 percent p.a., and Base Lending Rate and Base Financing Rate from 6.17 percent p.a. to 5.67 percent p.a.

The revision applies to all existing loans and/or financing pegged to the Base Rate, Base Lending Rate, and Base Financing Rate. To align with these changes, the deposit rates will also be revised on the same effective date.

“The further reduction in Overnight Policy Rate offers additional relief to borrowers. Alliance Bank also provides other financing assistance such as loan restructuring and rescheduling to help relieve the cash flow burdens of borrowers in these challenging times,” said Alliance Bank’s Group Chief Executive Officer, Joel Kornreich.

In addition, Alliance Bank has gone beyond financing to assist SMEs with the launch of the #SupportLokal initiative to help them scale up their business digitally and tap into major e-commerce platforms such as Shopee and AirAsia OURSHOP.

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