NSB slashed lending rates
In keeping with the President’s concept to give a fresh impetus to the country’s economy, it has been decided to reduce National Savings Bank’s lending rates with effect from 28.10.2009.
Accordingly, annual interest rates for Housing Loans and Pawning advances have been slashed down to 12%-14% and 14% respectively.
The Bank also has reduced the interest rates for the existing Housing Loans and according steps have been taken to reduce annual interest rate from 1% to 6% subject to a 14% minimum limit.
In addition, the Bank will expedite the process of granting loans to the state sector employees.