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Article: Bank personal loans mark-up hits 26-29pc.
- Article from:
- The Nation (Karachi, Pakistan)
- Article date:
- September 12, 2008
CopyrightCOPYRIGHT 2008 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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September 12 (THE NATION): JAVED MAHMOOD and ERUM ZAIDI KARACHI - The mark-up rate for personal loans had reached the highest ceiling of 26-29 per cent in this financial year, The Nation learnt. In 2007-08 the domestic banks were offering personal loans at 18-22 per cent, but in August the mark-up rate for the issuance of personal loans had been raised 26 to 29 per cent, sources in banking sector said. At present after the credit cards, the personal loans envisage the highest rate of interest, said bankers. It can also be said that the personal loans mark-up rate in Pakistan is the highest-ever in the world, they said. Bankers pointed out that the discount rate had been ...
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