Nouvobanq cuts interest rates |27 February 2010

The reduction from the current rate of 11.5% applies to individual loans, including those for housing, as well as to corporate loans, the bank said in a press release.
 
This means that interest on mortgage loans will be 8%, down from 10%, consumer loans will be 10% from 12% and secured business loans will be 13% from 15%.

The bank said the cuts have come as a result of the general improvement in the economic environment in Seychelles in recent months. 

It added that it is committed to providing the best services to the public at large and always passes on to its clients the benefit of any improvement in the economic conditions.

The interest rate cuts are expected to make borrowing more accessible and affordable, and to help stimulate the economy.