CTBC to cut rates to offer respite - News Summed Up

CTBC to cut rates to offer respite


The lender also plans to offer higher rate cuts for clients affected by the COVID-19 pandemic, CTBC said yesterday. In addition, CTBC would reduce rates on mortgages less than NT$10 million (US$329,946) by 50 basis points and revolving credit rates by 75 basis points, Chiu said. Taipei Fubon Commercial Bank (台北富邦銀行) on Tuesday said it would cut rates on loans by 27 basis points and trim its revolving credit rates by a full percentage point. For clients affected by COVID-19, the lender would offer a reduction of 50 basis points on mortgage loans less than NT$10 million and a cut of 75 basis points on personal loans, it said. After the reductions, its minimums of mortgage interest rates and the rates on personal loans would be lowered to 1.06 percent and 1.20 percent respectively, it added.


Source: Taipei Times April 01, 2020 15:56 UTC



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