Credit Information Bureau charges waived on agri loans up to Tk2.5 lakh
Although banks were previously given the option to waive these charges, many institutions did not properly comply, depriving borrowers of the benefit.
From now on, banks will not be allowed to charge any Credit Information Bureau (CIB) fees on agricultural and rural loans of up to Tk2,50,000.
The central bank's Agricultural Credit Department issued a circular today (15 September) stating that while disbursing agricultural and rural loans under their own management, banks cannot collect fees from customers for obtaining CIB reports.
Although banks were previously given the option to waive these charges, many institutions did not properly comply, depriving borrowers of the benefit.
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The circular further said that apart from the prescribed interest, no other fees — such as charges, processing fees, or monitoring fees — can be imposed on agricultural and rural loans.
Bangladesh Bank said the decision, effective immediately, aims to make loans more accessible for farmers.
The Credit Information Bureau (CIB), operated by the Bangladesh Bank, is the country's only authorised source of credit information for lenders, maintaining records only of existing borrowers of banks and non-bank financial institutions.
