Loan: ZTBL to increase interest rate

Low mark up rate of 8%, was a reason why no one invests in ZTBL.

ISLAMABAD:

Zarai Taraqiati Bank Limited (ZTBL) has decided to increase its interest rate on loans gradually from the current eight per cent to the prevailing market rates in the next three years, said President Roohi Rais Khan.

She said that the bank has been offering loans to the farmers with the lowest mark up rate of 8%, a reason why no one is up for investing in ZTBL.

“Agriculture is the major sector of the country which is contributing large share in the national economy and ZTBL is playing its part in development of the sector, therefore it is very important that the bank is economically more powerful”, she added.

Published in The Express Tribune, January 31^st, 2012