The Tonga Development Bank has announced a 50% reduction in loan repayments rates to help its clients to meet obligations during the current financial and economic challenges in Tonga.

The offer for 50 percent repayment reduction on all monthly loans is for four months, from November 1, 2012 to February 28, 2013.

A 0.5 percent reduction in lending interest rates for all loans for accounts with interest rates above 9 percent, became effective on November 1.

This is the second time this year the offer has been made by TDB to its customers.