Sonali Bank cuts interest rates
Sonali Bank has reduced its interest rates on loans and advances to accelerate commerce and industrial activities.The new rates took effect from January 1, says a press release. Rates of interest on agri-loans and agro-based industrial loans (except cold storage) have been reduced to nine per cent. Rates of other commercial loans including industrial loans reduced from 0.50 per cent (minimum) to seven per cent towards at 10 per cent in maximum cases. Interest rates on export credit have also been re-fixed between seven per cent and nine per cent. Sonali Bank expects that this reduced rate will facilitate development of trade and commerce, expansion of industry including agro-based industry for poverty alleviation, economic progress.
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