Public Bank to cut lending, FD rates by 50bps

Public Bank will reduce its lending rates and also fixed deposit rate by 50 basis points with effect from May 12.

KUALA LUMPUR: Public Bank will reduce its lending rates and also fixed deposit rate by 50 basis points with effect from May 12.

It said on Wednesday the base rate (BR) and base lending rate (BLR)/ base financing rate (BFR) would be reduced following Bank Negara Malaysia’s move to reduce the Overnight Policy Rate by 50 basis points from 2.50% to 2% the previous day.