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Wednesday, February 3, 2016, Magh 21, 1422 BS, Rabius Sani 22, 1437 Hijri


State-owned commercial, specialised banks cut rates
Observer Online Desk
Published :Wednesday, 3 February, 2016,  Time : 3:37 PM  View Count : 25
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—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 bdnews24.com.

“Besides, we also have funds for investment. Defaults will be less now since the rates have come down,” he added.

The state-owned bank has also slashed its house-building loan interest to 10 percent from 15.

Its rates for loans to buy flats have been reduced to 11 percent from 15.

“The moves aims to prop up the real estate sector,” said the Rupali bank top official.

State-owned banks account for almost 22 percent of the total loans disbursed, according to central bank figures.

bdnews24.com/TF







Editor : Iqbal Sobhan Chowdhury
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