MYBUCKS BANKING CORP ADJUSTS LENDING RATE – Malawi News Online

Read latest Malawi news, In an effort to aligning itself with bank lending rate reviews by the Reserve Bank of Malawi, MyBucks Banking Corporation adjusted its lending rate from 13.90% to 13.40%.

According to a notice by Management, the bank will adjust the lending rates at the beginning of every month, in accordance with money market interest rates. The notice also says that deposit rates will remain the same.

In other related news, at 13.4%, Malawi has registered its lowest lending rates in almost 40 years. From 1981 till 2016, Malawi had the highest lending rates, while a slight review in April 2001, saw the base lending rate hit 65%. Since then, the rates stood still but begun to steadily decline from October 2016 when they were seen at 37.1%. Stay tuned for latest Malawi news.