Dhaka, Bangladesh (BBN)– Ten commercial banks raised interest rates on deposits this month, although lending rate remained almost unchanged, officials said on Sunday.
“Some banks may also increase deposit rates in the upcoming months to meet growing demand for cash,” a senior official of a commercial bank said, adding that banks prefer fixed deposits to savings by offering even higher interest rates to collect fresh funds from general depositors.
The country’s commercial banks now offer interest rates upto 10.03 percent on fixed deposits, while the rate for savings accounts is 8.50 percent, according to the central bank statistics.
Term loans to large and medium-scale industries attract interest rates ranging between 11 percent and 13 percent while rates for small industries were fixed between 10 per cent and 18 per cent.
Similarly, interest rates on housing loans range from 9.99 percent to 13.00 percent and on consumer credits are between 11.50 percent and 19.50 percent.
Bank charge 10 to 13 percent on working capital to large and medium scale industries and interests for small industries vary between 11.50 percent and 17.00 percent, the BB data showed.
BBN/SI/AD-29Nov10-12:20 am (BST)