BSP decrease its loan rate

BANK South Pacific yesterday announces a reduction in interest rate for personal loans.

In a notice issued on Monday, the bank said the decrease in its lending rate will be effective today, 1^st March 2022.

It said the new decreased interest rates are between 16 per cent to 13 per cent.

“BSP personal loan is effective from the 1^st March, 2022, and the interest rate on the BSP personal loans will change from 16 per cent to 13 per cent,” it stated.

However, the bank said the new lending interest rate is applicable only to new loans.

By FOLLET JOHN
Newsroom, Honiara