Development banks have decided to lower the interest rate on fixed deposits 


During its conference, the Development Bankers Association, an association of Development Bank CEOs, also resolved to drop the interest rate. The committee members have agreed to reduce the deposit interest rate by 1%.

According to development banks, the interest rate on personal term deposits will now be 10.6 percent rather than 11.6 percent. Similarly, the interest rate on institutional term deposits has been reduced to 8.60 percent. It was also decided to reduce the savings interest rate by 0.60 percentage points. The lower interest rate will take effect on the first

 

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