Bank Muamalat reduces BR and BFR rates effective today

KUALA LUMPUR, Jan 30 — Bank Muamalat Malaysia Bhd will be reducing its base rate (BR) and base financing rate (BFR) by 25 basis points to 3.56 per cent and 6.56 per cent, respectively, effective today.

The bank said the revision is in line with Bank Negara Malaysia’s decision to decrease the overnight policy rate by 25 basis points on January 22.

“This will impact all floating rate financing packages pegged to BR and BFR,” it said in a statement today.

Similarly, it said its fixed term account-i deposit rates would be revised downward by 25 basis points. — Bernama