Public Bank to raise base rates by 25 pct effective from Friday

KUALA LUMPUR: Public Bank will revise upwards its Base Rate (BR) and Base Lending Rate (BLR)/Base Financing Rate (BFR) by 25 basis points (bps), or 0.25 per cent, effective July 8.

The banking group said this was in line with Bank Negara Malaysia’s (BNM) overnight policy rate (OPR) hike by 25 basis points from 2.00 per cent to 2.25 per cent on Wednesday (July 6, 2022).

“The bank’s BR will increase to 2.77 per cent from 2.52 per cent and the BLR/BFR will increase to 5.97 per cent from 5.72 per cent.

“At the same time, Public Bank’s fixed deposit rates will be correspondingly increased by 0.25 per cent across all tenures, effective on the same date,” it said in a statement today.-Bernama