BB refixes interest rates for NBFIs

From now on, any NBFI will be able to offer customer’s interest on deposits at a rate of the six-month moving average rate of Treasury bill (SMART) plus 2.50 percent

Bangladesh Bank (BB) has readjusted the interest rates for deposits and loans of non-bank financial institutions (NBFIs).

The Department of Financial Institutions and Markets of the central bank said it in a circular issued on Tuesday.

From now on, any NBFI will be able to offer customer’s interest on deposits at a rate of the six-month moving average rate of Treasury bill (SMART) plus 2.50 percent.

In the case of lending, institutions can now charge interest at the rate of SMART plus 5.5 percent, according to the circular.