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{
    "id": 65248,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/65248/?format=api",
    "text_counter": 112,
    "type": "speech",
    "speaker_name": "Mr. Nguyai",
    "speaker_title": "",
    "speaker": {
        "id": 113,
        "legal_name": "Lewis Nganga Nguyai",
        "slug": "lewis-nguyai"
    },
    "content": "Mr. Speaker, Sir, it was also on a light note. Normally, the spread of interest rates depends on the duration of time that the deposits or savings are made. If you look at what I would not necessarily call cheap deposits---. I mean deposits that come in on a day and go out in probably less than three months. Obviously, they are more expensive to the bank and they would not attract a higher interest rate. If you look at the ones that have a wider spread, you can find that the ones that are over three months, the margin between the savings and the deposits reduce to something like only 4 per cent. So, what we are trying to do in order to ensure that we are able to encourage more and more people to save and access banking facilities at a cheaper rate is to try and encourage banks to become much more efficient in delivering services and, as such, they will reduce the costs of banking services and then provide better interests."
}