Interest rates on Bank loan to be 9 percent in July

Interest rates on Bank loan to be 9 percent in July

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Dhaka, June 20 – The Bangladesh Association of Bankers (BAB) has decided to reduce the bank loan interest rate to a single digit. From July next, the rate would be 9 percent and it would be 6 percent for deposits. The decision would help create a congenial environment and also will contribute to creating new entrepreneurs, said the businessmen.
The local businessmen had long been demanding to lower the bank loan interest rate to a single digit. Due to a liquidity crisis, the rate went to a double digit. The entrepreneurs alleged that due to high bank loan interest, it was hard for them to continue their respective businesses.
Considering the fact, Prime Minister Sheikh Hasina directed to hold the bank loan interest rate in a single digit. According to the directive, the BAB has reduced the rate to 9 percent. It was informed at the same time that the interest rate for deposit will be 6 percent maximum.
The businessmen of the country are of the view that if the decision is implemented, the people of the country will be benefitted in line with the entrepreneurs.
Meanwhile, BAB has warned not to transfer the deposits from a bank to another bank for getting extra interests. – Staff Reporter

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