Repo Rate Adjustment

August 23, 2019


Following the adjustment of the Repo Rate to 3.35% on 9 August 2019, our Prime Lending Rate (PLR) and Savings Deposit Rate are being revised. The following interest rates will be applicable with effect from Monday 26 August 2019:

  • Prime Lending Rate (PLR): 6.55% p.a.*
  • Savings Deposit Rate: 1.95% p.a.* (AER** of 1.964%)
  • Emma Savings Account: 2.20% p.a. (AER** of 2.218%)
  • First Step Savings Account: 2.20% p.a. (AER** of 2.218%)
  • MoneyTree Savings Account
    Balance up to Rs 1m: 1.95% p.a. (AER** of 1.964%)
    Balance above Rs 1m: 2.50% p.a. (AER** of 2.411%)
  • Savings Account with Cheque Book: 1.00% (AER** of 1.004%)

Furthermore, our tariff structure is also being revised effective from 1 September 2019.
We are pleased to announce that the following items will be free of charge for our customers as from the same date:

  • Certificate of Outstanding Balance
  • Certificate of Interest / Balance / Liabilities / Others
  • Reminder Fees
  • Internet Banking for SME and Corporate Customers

*Note: Interest rates on all products linked to Savings and PLR will be adjusted accordingly.
**AER: Annual Effective Rate


New tariff structure effective as from 01 September 2019

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