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Guide to Consumer on Reference Rate

1. What is the Base Rate (BR)?

The BR we offer on this product is made up of two parts, our benchmark cost of funds (COF) and the Statutory Reserve Requirement (SRR) cost imposed by Bank Negara Malaysia. Our benchmark COF is referenced to the 3-month Kuala Lumpur Interbank Offering Rate and the incremental cost of raising new funds from Customers Deposits.

2. What are the possible scenarios to trigger a change in the BR?

Our BR can rise or fall due to changes in the benchmark COF and changes in the SRR. Changes in the benchmark COF could occur due to changes in the Overnight Policy Rate (OPR) as decided by the Monetary Policy Committee of Bank Negara Malaysia, as well as other factors such as changes in Statutory Reserve Requirement rate and/ or changes to the bank funding conditions.

Guide to Consumer on Reference Rate

1. What is the Base Rate (BR)?

2. What are the possible scenarios to trigger a change in the BR?

3. Historical benchmark COF in the last 3 years

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Guide to Consumer on Reference Rate