According to the revised regulations, banks can now disburse up to Tk 1 million, up from Tk 500,000, in loans against unsecured limits on credit card. Against liquid securities, the ceiling for personal loans, including those for purchasing consumer durables has been increased to Tk 2 million from Tk 1 million. Central bank officials say the move comes amid increased demand for personal and credit card loans as well to help banks invest the excess liquidity. Credit card loans carry higher interest rates than other bank loans. Against the average single-digit lending rate, credit card loans cost between 12 percent and 30 percent interest.

Source: bd News24 April 05, 2017 06:00 UTC