NSB slashes lending rates

The National Savings Bank (NSB) reduced lending rates with effect from October 28, a media release from the Bank said.

The annual interest rates for housing loans and pawning advances have been slashed down to 12 percent and 14 percent.

The Bank has also reduced the interest rates for the existing housing loans and steps have been taken to reduce the annual interest rate from one percent to six percent, subject to a 14 percent minimum limit.

The Bank will expedite the process of granting loans to the State sector employees, the release said.