Bangladesh Bank has raised the benchmark interest rate for bank loans by 54 basis points, the biggest increase in seven months. The rate, derived from the Six-month Moving Average of Rate of Treasury bill or SMART method, will be 8.68 percent in February, with banks allowed to add 3.75 percentage points on top of it for consumer loans. This means customers could be charged a maximum of 12.43 per cent interest on loans, up from 11.89 per cent last month, as per a bdnews24.com report.

Source: bd News24 February 01, 2024 08:32 UTC