KATHMANDU, Dec 15: Commercial banks have announced updated interest rates for the month of Poush (mid-December to mid-January).
As of Sunday, 14 banks have kept their interest rates unchanged from the previous month (Mangsir). However, three banks have increased their rates, while another three have reduced them.
Revised interest rate corridor system introduced
NMB Bank, Prime Commercial Bank, and Agricultural Development Bank have raised their interest rates. In contrast, Nepal Bank, Sanima Bank, and NIC Asia Bank have lowered their rates compared to the previous month.
Notably, Nepal Bank has reduced its rates by 0.35 percent points to 5.56 percent for individual term deposits, NIC Asia cut its rates by 0.19 percent points to 6.6 percent, and Sanima Bank lowered its rates by 0.1 percent points to 6.05 percent.
Agricultural Development Bank increased its rate by 0.033 percentage points to 5.53 percent, Prime Commercial Bank raised its rate by 0.5 percent points to 6.25 percent, and NMB Bank boosted its rate by 1.03 percentage points to 6.6 percent.
The remaining banks, including Laxmi Sunrise Bank, Citizens Bank, Global IME Bank, and Nabil Bank have kept their rates the same as in the preceding month.
