Dhaka, Bangladesh (BBN) – Uttara Financing Ltd, a non-bank financial institution, has increased its interest rate on a fixed deposit scheme on the occasion of Banking Fair Bangladesh-2015.

The FDR product namely “Annual Deposit Scheme” is offering increased interest rate which is 9.50 per cent against the earlier rate of 9.25 per cent, Sajib Roy, a principle officer of Uttara Financing Ltd, told the BBN during the ongoing fair.

The initiative will attract the clients to the NBFI to deposit their hard-earned money, Mr Roy said.

The NBFI has also reduced the rate of interest on its SME loan product on occasion of the ongoing fair.

The NBFI offers 15 per cent rate of interest on its SME loan against the earlier rate of 18 per cent.

The clients will be allowed to receive SME loan of maximum BDT 50 lakh from the NBFI when the women entrepreneurs will be able to get loan amounting to BDT 10 lakh without giving any collateral securities.

Bangladesh Bank Governor Dr Atiur Rahman inaugurated the five-day long banking fair on Bangla Academy premises in Dhaka on Tuesday aiming to build a banking nation through boosting the ongoing financial inclusion campaign in Bangladesh.

The fair will come to an end this evening with a closing ceremony.

BBN/AI/ANS