a. The maximum interest rate that could be offered for savings deposits accepted or maintained shall be 7.58% per annum.
b. The maximum interest rates that could be offered for deposits accepted or renewed shall be as follows,
i For maturity period of one year or less - 11.01% per annum.
ii For maturity period of over one year and up to three years - 12.01% per annum.
iii For maturity period of over three years - 13.51% per annum.
In case where a savings or fixed deposit is made by a person who is over fifty five (55) years of age, a finance company may pay an additional interest rate of one per cent above the maximum interest rates as specified in (a) and (b) above, the Bank further states.