Cost of Funds Index (CoFI) of the Non Bank Financial Institutions.
| Particulars | Nov, 2023 | Dec, 2023 | Jan, 2024 | Feb, 2024 | Mar, 2024 | Apr, 2024 | May, 2024 | Jun, 2024 | Jul, 2024 | Aug, 2024 | Sep, 2024 | Oct, 2024 | Nov, 2024 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cost of funds | 7.49 | 7.36 | 7.5 | 7.64 | 7.81 | 8.08 | 8.27 | 8.54 | 8.69 | 8.76 | 9.17 | 8.76 | 8.98 |
| Adjusted Cost of funds | 8.7 | 8.6 | 8.79 | 8.98 | 9.17 | 9.55 | 9.7 | 10.09 | 10.21 | 10.33 | 10.93 | 10.31 | 10.61 |
Cost of Funds is the weighted average interest rate of the interest-bearing liabilities of a non bank financial institution. Cost of Funds Index (CoFI) reflects the weighted average interest rate reported for a given month by the non bank financial institutions.
There are two computation of cost of funds; one is for all the interest-bearing funds and the other is for the interest-bearing funds excluding the low-cost specific purpose scheme funds (adjusted cost of funds).
CoFI serves as the reference rate for pricing the variable interest loan products. In setting the variable interest rate of a new loan, NBFIs will add margin to the industry CoFI or Adjusted CoFI . Bangladesh Bank issued guidelines on the Base Rate System for the NBFIs through DFIM Circular No.-06, dated- 20 August 2013. The guidelines provide more details on the CoFI.