Banks To Disclose More Information To Their Borrowers

Beginning 1st of July this year, borrowers will be able to know how their bank arrived at their monthly repayment obligation. And that's because local commercial banks will be required to switch to a new method of computing loan repayments that will be based on an annual percentage rate. And as Bella Genga reports, banks will also be obligated to disclose what interest charges and fees they're charging on a loan.