Agrobank Lowers Base Rate And Base Financing Rate After OPR Cut

KUALA LUMPUR, May 16 (Bernama) — Agrobank today announced the latest financing rate with a reduction of the base rate (BR) to 3.6% and base financing rate (BFR) to 6.75%. The decision was made after the recent announcement from Bank Negara Malaysia (BNM) on Overnight Policy Rate (OPR) corresponding 25-basis points reduction from 3.25% to 3%.

According to Syed Alwi Mohamed Sultan, President / Chief Executive Officer of Agrobank, the Bank’s BR and BFR have been reduced by 25-basis points effective 16 May 2019. In addition, deposit rates are also adjusted downwards by 20-basis points for 12-month tenure and below and 15-basis points for tenure over the 12-month period, which are effective on the same date.