Banif Bank reduces base rate

Banif Bank (Malta) plc is reducing its base rate from 3.5 to three percent. The bank said the decision follows recent developments announced by the European Central Bank. "Whilst acknowledging the need to support the local economic and financial...

Banif Bank (Malta) plc is reducing its base rate from 3.5 to three percent.

The bank said the decision follows recent developments announced by the European Central Bank.

"Whilst acknowledging the need to support the local economic and financial scenario by adjusting its base rate in order to facilitate personal and business investment opportunities, the Bank’s decision reaffirms its beliefs to safeguard customer savings," the bank said.

It is offering minimum interest rates of one percent on personal savings accounts and 0.75 percent on current accounts.

This rate would enable the bank to support the consumer and business lending requirements.

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