Public Bank revises lending rates effective July 11 after OPR cut

KUALA LUMPUR: Public Bank Bhd will reduce its standardised base rate (SBR), base rate (BR) and base lending rate (BLR) / base financing rate (BFR) by 0.25% effective July 11.

This follows Bank Negara’s 25 basis point cut to the Overnight Policy Rate (OPR) from 3.00% to 2.75% on July 9.

Public Bank’s SBR will be 2.75% in tandem with the OPR, while the BR will reduce to 3.27% from 3.52% and the BLR/BFR will reduce to 6.47% from 6.72%.

The bank will also revise its fixed deposit rates downward, with the changes taking effect on the same date.