Sandhani Life Finance sets 12% maximum interest rate
Stockbrokers and merchant banks will be able to collect an additional maximum 3% spread from the customer with the cost of funds
Sandhani Life Finance Limited has set a maximum interest rate of 12% on margin loans, with effect from February 1, said a press release.
Taking into consideration the interests of the general investors and the overall stability and development of the stock market, Sandhani Life Finance has implemented the highest interest rate of 12% on margin loans according to BSEC / CMRRCD / 2021-388 / 02.
The company fixed the rate at the 49th board meeting of Sandhani Life Finance Limited on December 10, 2020 with the consent of the Board of Directors.
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The meeting was held at the head office of Sandhani Life Finance. It is anticipated that this interest rate will benefit investors, stated the press release.
On January 13, the 757th meeting of the Bangladesh Securities and Exchange Commission (BSEC) set the maximum interest rate on margin loans at 12%.
But the BSEC moved away from the decision due to its negative impact on the market. The BSEC wants to make it effective from July 1 by providing funds.
However, stockbrokers and merchant banks will be able to collect an additional maximum 3% spread from the customer with the cost of funds. But the margin interest rate will not exceed 12% under any circumstances.
