Save more for better interest rates - banks

Banks operating in the country have defended themselves against what they say are ‘unfair’ allegations that they charge exorbitant interest rates on their loan products. Addressing concerns that banks have inflexible and high loan interest rates, city bankers said the rates are influenced by structural aspects of the market, such as a poor savings culture, and not exploitive tendencies.
Local banks say they cannot reduce lending rates since they get finance from global financial institutions at a cost due to low customer deposits.
Local banks say they cannot reduce lending rates since they get finance from global financial institutions at a cost due to low customer deposits.
Times Reporter