Rates charged for rediscount loans availed by banks have risen above the four percent level starting this week, reflecting the higher benchmark interest rates set by the Bangko Sentral ng Pilipinas (BSP).
In a statement, the central bank said rediscount rates for peso loans secured by banks have climbed effective Monday.
Loans maturing in 90 days or lower are charged a 4.0625% rate while 180-day credit lines carry a 4.125% spread. — Melissa Luz T. Lopez