HLB & EON Bank Raises BLR and FD Rates

Hong Leong Bank Berhad, Hong Leong Islamic Bank Berhad, EON Bank Berhad and EONCAP Islamic Bank Berhad will raise their Base Lending Rate (BLR) and Islamic Financing Rate (IFR) respectively by 30 basis points from 6.30% to 6.60% with effect from 13 May 2011. Concurrently HLB's and EON's Fixed Deposit (FD) interest rates will be revised upwards by up to 35 basis points. The new FD rates for 1 and 12 months will be increased to 2.90% and 3.25% (Flexi FD) respectively.

The move follows Bank Negara Malaysia's Overnight Policy Rate (OPR) hike by 25 basis points to 3% on 5 May 2011. Meanwhile the statutory reserve requirement (SRR) was also increased by 100 basis points to 3% by the central bank.

Group Managing Director, Yvonne Chia said that both Banks would continue to work closely with its customers to address all their financing and savings needs.

-END-Press Release - 12/05/2011