Loans Jamaica

EXIM Bank Lowers Lending Rates

As of October 1, 2010, the EXIM Bank will lower its lending rates by two percentage points to between 10% and 11.5% for Jamaican dollar loans, and between 7.5% and 9.0% for US dollar loans. EXIM Bank lends only to the productive sector, and according to a recent release from the bank, interest rates on [...]

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Students’ Loan Bureau Lending Rates To Be Reduced

Minister of Finance, Audley shaw, has announced that instructions have been issued to the Students Loan Bureau (SLB) to lower its lending rates. An official announcement will reportedly be made soon on the rate adjustments. The expected rate adjustments are part of an overall interest rate reduction strategy being pursued by the Jamaica Government, as [...]

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ScotiaBank Reduces Lending Rates Again

Scotiabank Jamaica announced yesterday that effective November 1, 2009, it will cut its base lending rate by 62 basis points to 19.88%. This is the second rate reduction announced by ScotiaBank in the past three months, and this new 19.88% will be the lowest loan rate compared to all the other local commercial banks. ScotiaBank’s [...]

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FirstCaribbean Lowers Its Lending Rate

As of today, October 1, FirstCaribbean International Bank Jamaica Limited (FCIBJ) has cut 150 basis points off its prime lending rates, and so its new prime lending rate will adjust from 21.75% to 20.25%. It’s the second of seven commercial banks to cut its lending rates, following Scotia-bank’s one-point adjustment of its base rate in [...]

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ScotiaBank Jamaica Has Reduced Its Lending Rates

Just hours after the Bank of Jamaica (BOJ) reduced the interest rate on open instruments by one per cent, Scotiabank Jamaica has announced a cut in its own interest rates. As of next Monday, August 3, Scotiabank’s base lending rates will be reduced by one per cent from 21.5 per cent to 20.5 per cent. [...]

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