PB reduces interest rates

People's Bank (PB) has taken an immediate decision to reduce their interest rates on Loan and Overdraft facilities, and the undermentioned fields will receive a reduction of between one percent and two percent in interest rates charged, a media statement issued by the bank said.

Agriculture, Fisheries, Animal Husbandry, Dairy, Micro Finance Loans for Small and Medium Enterprises, Housing and Construction, Service Sectors and Exports are the fields that will benefit from this reduction of interest rates.

This change in the rates of interest will apply to any new loan and overdraft facility and to those which have been approved but with funds hitherto unreleased, the bank said.