In its quest to protecting consumers of products and services offered by banks, on one hand, and promoting market discipline and competition among market players in the banking industry, on the other hand, the Bank of Zambia has published the bank charges, interest and lending rates for all commercial banks as at 30th June, 2016.
This is done pursuant to Section 121A(I) of the Banking and Financial Services Act, Chapter 387 of the Laws of Zambia, which gives the Bank of Zambia power to publish any data or information it may determine to be in the public interest.
The ZNFU membership is encouraged to visit the Bank of Zambia Website (www.boz.zm) to view the different interest rates and bank charges for retail and other personal accounts by the various commercial banks as at 30th June 2016. The publication was released on 7th September 2016 under the title “Public Notice on Interest Rates & Bank Charges”. This information may be beneficial in the financial decision making process.