Circulars/Notifications - Banking Policy & Regulations Department  
 BPD Circular No. 06 of 2006
July 14, 2006 

The Presidents / Chief Executives
All Banks / DFIs

Dear Sirs / Madam,

DISCLOSURE OF LENDING / DEPOSIT RATES BY BANKS/DFIs

 

In order to create awareness and to facilitate the public in making informed decisions, it has been decided that henceforth banks/DFIs shall make complete disclosure of the lending and deposit rates of all consumer products offered by them by posting this information on their website as well as prominently displaying on entrance/ or window of their branches. In order to facilitate comparison, banks/DFIs would also disclose annualized percentage rates on all consumer products.

2. In case of deposits, the expected rate of return under the PLS system will be clearly indicated for each tenure. For lending products, Banks/DFIs shall also clearly indicate whether the rate is fixed or floating. In case of floating rate, in addition to mentioning the existing rate, the information regarding the tenure of the benchmark (KIBOR or any other rate plus a pre-defined spread) used and periodicity of re-pricing should also be disclosed.

3. The banks/DFIs, in addition to the above, will also take adequate measures to inform their customers about the intricacies of ATM, Credit Card and their charges as well as the cardholders’ obligations

4. Please acknowledge receipt.

 


Yours faithfully,

Sd/-

(INAYAT HUSSAIN)
Senior Joint Director

       
Home
About SBP
Publications
Economic Data
Press Releases
Circulars/Notifications
Laws & Regulations
Monetary Policy
Help Desk
SBP Videos
Feedback
Contact us
What's New?
Speeches
Online Tenders
Web Links

Educational Resources
Regulatory Returns
Library
Rupey ko Pehchano
Events
Zahid Husain Memorial Lecture
Careers
Sitemap
 
Best view Screen Resolution : 1024 * 768
Copyright © 2016. All Rights Reserved.