Borrowers need not pay interest for April, May

The central bank gave the instruction considering the inconvenient situation for Covid-19.

Borrowers will not be required to pay the interest for the months of April and May this year against their existing loans or investments with any bank, said a Bangladesh Bank circular today. 

In the circular, the central bank instructed all banks to waive the interest amount for those two months on all kind of loans or investments considering the inconvenient situation for Covid-19.  

Banks have to transfer the suspended amount to a interest free blocked account and not to show it in its income account.

Until further notice, bank cannot impose this two months' interest from the borrowers, read on the circular.

Before this, the central bank suggested banks not to mark classify any borrower as a defaulter till June 30.