counter code
Home Business Bank loan interest rate has further increased to over 14%

Bank loan interest rate has further increased to over 14%

by endroar
Rate this post

Earlier, the maximum interest rate on loans was fixed at 9 percent. Last July, Bangladesh Bank moved away from that method of fixing the interest rate. At present, the base rate of loan interest is determined on the basis of Six Months Moving Average Rate of Treasury Bills or Smart System. An additional 3.50 percent interest is added to this base rate. The banks determine the final interest rate of the loan.

At the end of March, the smart rate increased to 10.55 percent. Adding 3 and a half percent interest to this, the loan interest stands at 14.05 percent.

Traders say that as the central bank follows the new policy, interest rates on loans are now increasing every month. Borrowers of banks including businessmen, industrialists are in trouble. Because, if you go to take a new bank loan, you have to calculate more interest. As a result, the cost of business is also increasing.

source

related posts

Leave a Comment