TMB cuts loan rates

TMB Bank Plc on Friday (August 16) joined other major banks in cutting its loan interest rates. The bank cut the Minimum Overdraft Rate (MOR) and Minimum Retail Rate (MRR) by 0.25 of a percentage point, effective from September 1.

After the cut, its MOR rate will fall to 7.425 per cent and MRR to 7.150 per cent.