OCBC is the only local bank to have rates for fixed deposits above 4 per cent so far. “This is the highest Singapore-dollar time deposit interest rate we have offered to customers in recent history,” said OCBC Bank's head of deposits Na Kok Peng.Īn eight-month tenor was offered for the promotion as the number symbolises prosperity in Chinese, Mr Na said, adding that a shorter tenor also offers customers greater flexibility. The bank is also offering its Premier Banking and Premier Private clients a promotional rate of 4.18 per cent for an eight-month fixed deposit. Non-360 customers get a rate of 3.88 per cent. Similarly, all conventional fixed deposit and Islamic time deposit board rates will also increase by 0.25% on the same day, it said.SINGAPORE: Interest rates for fixed deposits in Singapore are inching up above 4 per cent, as banks continue to dish out sweet deals amid a competition for cash.Īt OCBC, customers of the bank’s flagship 360 savings account can get a per-annum rate of 4.08 per cent for a minimum placement of S$20,000 over eight months as part of a Chinese New Year promotion rolled out this week. OCBC said the SBR will increase to 2.50% from 2.25%, BR will rise to 3.33 per cent from 3.08 per cent and the BLR/BFR will be higher at 6.26% from 6.01% previously. 'All loans and financing rates based on SBR, BR and BLR/BFR will correspondingly increase by the same rate,” it said. Meanwhile, OCBC Bank (Malaysia) Bhd and its Islamic banking subsidiary OCBC Al-Amin Bank Bhd will increase their SBR, BR and BLR/ base financing rate (BFR) by 0.25%, effective Sept 14, 2022. The adjustments are in line with Bank Negara's recent 0.25% overnight policy rate hike, Hong Leong said in a statement.

'Similarly, loans and financing based on the base lending rate (BLR) and Islamic Financing Rate (IFR) will be revised to 6.39% from 6.14%,” it said in a statement.

The base rate (BR) and Islamic base rate (IBR) will also be revised to 3.38% from 3.13% previously. KUALA LUMPUR: Hong Leong Bank and Hong Leong Islamic Bank will increase their standardised base rate (SBR) to 2.50%, effective Sept 13.

Ocbc malaysia fixed deposit rate 2022