Published: Sunday - 5th July, 2015
There is a high liquidity situation in the current market, resulting to low interest rates. The interest rate on the 91-day treasury bills issued recently (16 June) is just 0.18 percent. Likewise, the interest rate on development bonds is a mere 3.08 percent. The average interest rate on saving deposit is 3% and on fixed deposit is 6% (as of mid-Apr). However, some commercial banks are offering up to 8% interest on fixed deposit and higher than 3% interest on savings.
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