Public Bank to cut BLR by 55 basis pts

KUALA LUMPUR: Public Bank Bhd and Public Islamic Bank Bhd will reduce their Base Lending Rate (BLR) and Base Financing Rate (BFR) by 55 basis points from 6.5% to 5.95% with effect from Feb 3.

Public Bank group chairman Tan Sri Dr Teh Hong Piow said on Thursday the reduction of BLR/BFR was part of the banking group’s on-going commitment towards the creation of a more supportive monetary environment to sustain the country’s economic growth.

“Customers will enjoy immediate benefits as the interest/financing rates of all their loans and financing pegged to BLR/BFR will be reduced by 0.55%,” he said.

Teh said Public Bank Group would assist customers manage their financial obligations by providing them with the flexibility to reduce their monthly loan instalments.

(The Star)