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The Agricultural Bank reduces the interest rate on pension advances to 3%
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Economy News - Baghdad
The Agricultural Cooperative Bank announced, on Monday, the reduction of the interest rate collected on pension advances for employees whose salaries are settled to 3 percent of the advance amount.
The schedule of installments for employee advances issued by the electronic payment department, which was reviewed by "Al-Eqtisad News", revealed that "the monthly interest on the amount of the advance of five million dinars does not exceed 12,500 dinars, added to the monthly capital of 83,334 dinars, so that the monthly installment is 95,834 dinars over a five-year period." Years, so the total interest over the life of the advance will be seven hundred and fifty thousand dinars and no other.
"While the total interest on the ten million dinars advance will be about one and a half million dinars over the life of the five-year loan, and two million two hundred fifty on a fifteen million dinars advance."
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