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*RBZ caps interest rates, further reduces bank charges* *Follow Pindula on WhatsApp for daily new updates* https://whatsapp.com/channel/0029Va84dngJP21B2nWeyM3v?qc Reserve Bank of Zimbabwe (RBZ) has capped interest rates at 12 percent per annum from 18 percent and further reduced bank charges in a bid to enhance financial sector stability and stimulate production across various sectors of the economy. Said Mangudya: ---------- Latest itel S24 available on Pindula: 128GB storage $119 USD WhatsApp +263783450793 ---------- > With effect from 1 April 2017, all banking institutions are required to ensure that lending interest rates should not exceed 12 percent per annum and that bank charges that include application fees, facility fees and administration fee, should not exceed three percent. The RBZ last December ordered a downward review of cash withdrawal charges that came into effect on 12 December when the bank adopted a proportional pricing model to replace the fixed charges and align cash withdrawal charges to amounts withdrawn. More: Chronicle itel A50 now available on Pindula at $84 64GB storage, 2GB RAM. _ideal for light usage_ _If you found this article useful_ *Please support Pindula by forwarding to friends and groups*
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