I have some money fixed which supposed to mature on Jan. 1st. I expected an alert that the deposit has matured, didn't get on. I logged on to my mobile portal only to find out the deposit has been rolled over with a ridiculous interest rate.

I called a friend who works in the bank only to be told that FG has ordered banks to drop interest rates on bank deposits from January 1st. On my rolled over fund, they are giving me just 1%...so ridiculous

So how true is it that banks interest have dropped. I am still yet to go to my bank to find out the true story, but maybe those knowledgeable in the house can shed light on this.

Mods, please push this to front page.