Regulatory Alerts2015-01-01
NB Circular No. 1/2015 - Maximum Effective Annual Lending Interest Rates
The Bank of Zambia has revised the maximum effective annual lending interest rates for Non-Bank Financial Institutions following a policy rate increase to 12.50 percent. Enterprise-lending microfinance institutions are now capped at 56.40 percent, while all other NBFIs face a maximum rate of 40.28 percent. These updated caps are calculated using a fixed margin applied to commercial bank lending rates and will automatically adjust as the central bank announces monthly policy rate changes.
Share