By Masauso Mkwayaya

Commercial Banks will increase interest rates on loans effective September 1st, 2023.

This follows the raising of the Monetary Policy Rate –MPR- by the Bank of Zambia from 9.5 percent to 10.

And Bankers Association of Zambia -BAZ- Chief Executive Officer LEONARD MWANZA has advised people currently servicing loans with commercial banks to engage their banks to either increase their monthly loan instalments or extend the repayment period.

In an interview with ZNBC News, Mr. MWANZA said clients with loans will have to engage their Banks on which option works better for them.

Post Views: 141

By editor