Public Bank raises interest rates by 0.25%

Its standardised base rate will now be 3%, whilst base lending rate is 6.72%.

Public Bank has raised its standardised base rate (SBR), base rate (BR), and base lending rate (BLR) or base financing rate (BFR) by 0.25%, effective 8 May.

This is in line with the Bank Negara Malaysia raising its policy rate by 25 basis points, from 2.75% to 3%, on 3 May.

The SBR will now be 3%, whilst the BR is 3.52% from 3.27% previously.

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Public Bank’s BLR/BFR is now 6.72%, from 6.47% previously.

Fixed deposit rates will also be adjusted upwards, effective on 8 May.