KUALA LUMPUR, May 3 — Public Bank will be increasing its standardised base rate (SBR), base rate (BR) and base lending rate (BLR)/base financing rate (BFR) by 0.25 per cent effective May 8, 2023.
The bank said the adjustments were in line with Bank Negara Malaysia’s (BNM) latest overnight policy rate (OPR) hike by 25 basis points.
BNM’s Monetary Policy Committee decided during today’s meeting to increase the OPR by 25 basis points to 3.00 per cent from 2.75 per cent previously.
“Public Bank’s SBR will be 3.00 per cent in tandem with the OPR, while the BR will increase to 3.52 per cent from 3.27 per cent.
“The BLR/BFR will increase to 6.72 per cent from 6.47 per cent,” the bank said in a statement.
The bank’s fixed deposit rates will also be adjusted upwards effectively on May 8, 2023.
— Bernama
