CIMB Bank, CIMB Islamic Bank cut rates by 25bp

All financing facilities based on BLR and BFR will be slashed 0.25%.

CIMB Bank Berhad and CIMB Islamic Bank will slash their base rate and fixed deposit/fixed return income account-i board rates by 25bp, according to a news release.

In accordance, all financing facilities based on base lending rate (BLR) and base financing rate (BFR) will be reduced 0.25% to achieve the corresponding effect of monetary policy transmission intent by the Bank Negara Malaysia (BNM).

All changes will be effective 9 March.

Earlier this month, BNM slashed the overnight policy rate by 25bp to 2.5% from 2.75%.