DhakaTribune
Sunday December 17, 2017 01:44 PM

9% interest rate cap on loans for farmers

9% interest rate cap on loans for farmers

The decision will be implemented from July 1

The central bank has reduced the maximum ceiling on interest rates for agricultural and rural loans to 9%, with a view to increasing disbursement of agriculture credit and facilitating farmers.

The Bangladesh Bank announced the decision through a circular issued on Thursday, while the decision will be implemented from July 1.

In the circular sent to all CEOs of commercial banks, the interest rate on savings and loans for farmers was fixed at a 9% maximum instead of the previously announced 10%.

The decision was taken considering agriculture as a priority sector and taking into account a fall in agri-loan disbursement, added the circular.

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