Economic Reporter :
State-owned commercial and specialised banks have slashed lending rates. The new rate has been fixed at a maximum of 14 percent, down from the prevailing 16 percent.
The cut businesses have been long demanding take effect from Feb 1 in seven state-owned banks including Sonali, Janata, Agrani, Rupali, BASIC, BDBL and Krishi Bank.
Deposit rates, too, have dropped. Entrepreneurs will have to count 13 percent interest for term loans, 14 percent for working capital loans, and 13 to 14 percent for commercial loans and SME loans up to Tk 1 million (10 percent for women), and 10 percent for import loans.
Meanwhile, depositors will now get a maximum seven percent interest, down from eight.
“Several reasons prompted the move. Firstly, encouraging investment,” Rupali Bank Managing Director M Farid Uddin told to reporters.
State-owned commercial and specialised banks have slashed lending rates. The new rate has been fixed at a maximum of 14 percent, down from the prevailing 16 percent.
The cut businesses have been long demanding take effect from Feb 1 in seven state-owned banks including Sonali, Janata, Agrani, Rupali, BASIC, BDBL and Krishi Bank.
Deposit rates, too, have dropped. Entrepreneurs will have to count 13 percent interest for term loans, 14 percent for working capital loans, and 13 to 14 percent for commercial loans and SME loans up to Tk 1 million (10 percent for women), and 10 percent for import loans.
Meanwhile, depositors will now get a maximum seven percent interest, down from eight.
“Several reasons prompted the move. Firstly, encouraging investment,” Rupali Bank Managing Director M Farid Uddin told to reporters.
