Malaysia’s Public Bank raises lending rate by 0.25%

The new base rate will be 2.25%, and base lending rate at 5.72%

Public Bank is increasing its Base Rate (BR), Base Lending Rate (BLR) / Base Financing Rate (BFR) by 0.25%, effective 13 May.

The bank’s new BR will be at 2.52% from 2.27%, whilst the BLR/BFR will be at 5.72% from 5.47%.

The bank’s fixed deposit rates will also be increased by 0.25% across all tenures.

The move came following Bank Negara Malaysia’s Overnight Policy Rate (OPR) hike by 25 basis points from 1.75% to 2.00% on 11 May.

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