Public Bank to raise base rates by 0.25% effective from Friday

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

The banking group mentioned this was in step with Bank Negara Malaysia’s (BNM) in a single day coverage fee (OPR) hike by 25 foundation factors from 2.00 per cent to 2.25 per cent on Wednesday (July 6, 2022).

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

“At the identical time, Public Bank’s mounted deposit rates shall be correspondingly elevated by 0.25 per cent throughout all tenures, effective on the identical date,” it mentioned in a press release right this moment. – Bernama



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