Interest on agricultural loans reduced by 1 percent

To make it easier for farmers to borrow after four years, the central bank has reduced the interest rate on agricultural and rural loans from 9 percent to 8 percent. It will be effective from April 1, 2021. This means that from now on banks will not be able to charge more than 8 percent interest on agricultural loans.

The Banking Regulation and Policy Division of Bangladesh Bank has issued a directive in this regard on Thursday (April 22).

Sunbd/NJ