Sonali Bank revises interest rate 5 times

January 9, 2014 5:17 pm
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The bank’s circular, issued by the treasury management division, shows that Sonali Bank had first re-fixed deposit interest rate on June 20, which came into effect from July 1.

Then it issued fresh circulars on Aug 21, Oct 6, Nov 10 and Dec 31 fixing new rates.

The latest rates have come into effect from Jan 1.

Sonali Bank has reduced interest rate by 0.50 percent to 1 percent on various fixed deposits.

Through earlier circulars the bank had either increased or reduced interest rate on deposit schemes.

Changes were also made to the bank’s savings schemes such as monthly earning scheme and double benefit scheme.

Many clients withdrew deposits from Sonali Bank after media reports of corruption, including the Hallmark loan scam involving the bank in 2012.