MUSANZE – Traders in Musanze have asked banks to reduce interest rates on personal and investment loans, saying they cripple their businesses.‘‘Banks should avail structures of their charges, there are hidden charges to clients, banks should be honest in the way of handling clients,’’ said Samsom Maniragaba, a businessperson.Maniragaba is among several  Rwanda Commercial Bank (BCR) clients hosted by the bank over the weekend in Musanze District. District Mayor, Winifrida Mpembyemungu, noted most of the SMEs, crumble as a result of losses, failure to estimate the profit margin, interest, and how to sustainably compete in the market."Farmers need loans but they should be able to pay back through earnings,’’ she commented.One of the factors affecting lending rates is the cost of fund. Lending rates increase or decrease depending on changes in cost of funding, according to bankers.To date, interest rates on loans from Rwanda’s commercial banks range between 15 to 17 per cent.Speaking at the meeting, Sanjaeev Anand, the Managing Director of BCR, urged Rwandans to embrace electronic banking services in their transactions, citing online banking, mobile banking, electronic purchase and ATM services.Anand said this would enable clients to save time, get quick services, save money and improve their operational efficiency.The bank also used the occasion to showcase their new products, including corporate and SME products like agriculture loans, construction loans, and leasing.‘’It’s our duty to spend time with our clients, explaining what we are doing, to understand their requirements. It’s a duty, it’s not a favour. We have to solve their demands. We are there because of these customers,’’ Anand said, adding that they were committed to providing best quality services to clients. He urged Rwandans to not only consider banks to borrow funds but also adopt a savings culture.Meanwhile, as part of its corporate social responsibility, BCR announced plans to train over 50 accountants and managers from small and medium enterprises in financial management, profits calculations and business planning.