BB asks banks not to charge late fees for delayed payment from 18 to 25 July

Bangladesh Bank (BB) has asked all scheduled banks not to charge late fees from clients over delayed repayment and depositing in saving schemes between 18 July and 25 July.

Many loan borrowers and credit customers could not make their payments on time due to the recent situation, as per a BB circular issued on Wednesday.

Moreover, depositors could not deposit their money in their various savings schemes, reports BSS.

In this situation, customers will not be charged late payment fees if they clear their dues incurred from 18 to 25 July by the end of this month, said the circular.

The instruction, which will come into effect immediately, will be applicable to all credit card customers, general loan borrowers and savers.

Banks will not cut interest on saving schemes for the delay in depositing money, said the circular.