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.