Banks offer interest rate of up to 10.2 percent per annum for deposits

Banks offer interest rate of up to 10.2 percent per annum for deposits

In order to prepare capital sources for loans at the end of the year, besides mobilizing savings at high interest rates of up to nearly 9 percent per annum for 12-month term, commercial banks have also raced to attract capital through certificate of deposit with interest rate above 10 percent per annum.