Pubali Bank, the country's largest private bank, has reduced the interest rates on its loans by 1.5 percentage points to 15 percent in a bid to encourage expansion of industry and economic development.
“We have to make it easier in getting loans to invest in the industry sector,” Pubali Bank Managing Director Helal Ahmed Chowdhury said at a press briefing at the bank's headquarters.
The area of eco-friendly and productive programmes is expanding and many parties are investing in setting up new plants, due to which the bank decided to go for the interest rate cut, Chowdhury said.
At present, Pubali charges 13 percent interest for agricultural loans and 10 percent for women entrepreneurs, he said.
“Besides, prime customers and customers with a good track record are getting loans at lower interest rates.”
Meanwhile, the bank has also introduced an SMS-based banking service to provide information to its customers round the clock.
The SMS service will cover debit and credit transaction notifications, online transactions, loan sanctions and disbursements, L/C openings and payments, card activations/deactivations, monthly balance notifications, FDR renewal message, ATM and OS transaction and internet banking access.
Additional Managing Director MA Halim Chowdhury and Deputy Managing Director Safiul Alam Khan Chowdhury were also present.