Bangladesh Bank on Wednesday created a fresh refinance fund worth Tk 200 crore for landless farmers, marginal businesspeople and low-income professionals affected by natural calamity.
The BB issued a circular to managing directors and chief executive officers of all banks saying that the clients would get loans under the refinance scheme with a 12 per cent to 19 per cent interest rate.
A BB official said that the fund was created to make active the bank accounts of landless farmers, marginal businesspeople and low-income professionals with Tk 10 deposits.
The clients will count 19 per cent interest if they receive the loan
from the refinance fund through NGOs.
The clients, however, will have to count 12 per cent interest if they receive the loans through the scheduled banks.
The banks and the NGOs will receive the fund from the central bank with interest rate of five per cent.
A client will get maximum Tk 50,000 in credit from the banks for one year.
The banks will not take any mortgage from the clients against their disbursed loan under the refinance scheme.
The clients, however, will have to mange a personal guarantor against his or her loans, the BB circular said.