Alliance Bank Malaysia Bhd announced that it will raise its Base Rate, Base Lending Rate, and Base Financing Rate by 25 basis points effective 20 May 2022, following Bank Negara Malaysia’s revision of the Overnight Policy Rate (“OPR”) on 11 May 2022.
The Bank’s Base Rate will be adjusted from 2.57% per annum to 2.82% per annum, and Base Lending Rate and Base Financing Rate from 5.42% per annum to 5.67% per annum. The revision will apply to all existing loans and/or financing pegged to the Base Rate, Base Lending Rate, and Base Financing Rate. In line with the revision, the fixed deposit rates will also be revised upwards on the same effective date.
Alliance Bank’s Group Chief Executive Officer, Mr. Joel Kornreich said, “We have also raised the interest rates of the Basic Savings Account, Children Savings Account and Senior Savers Account to benefit the B40 segment, children and senior citizens. In addition, customers who open a new deposit account via allianceonline mobile app will get to enjoy a promotional e-Fixed Deposit rate.”
