Bandhan Bank has reduced interest rate on microloans by 70 basis points to 17.95 per cent from 18.65 per cent at present. The new rate of interest would be applicable to new disbursements from June 18, 2019, said a press statement issued by the bank.
In the last four years since Bandhan Bank began operations as a bank, it has reduced microloan rates by 445 basis points or 4.45 per cent to 17.95 per cent from 22.40 per cent.