Commercial banks reduce interest rates except for Himalayan and Nabil

Published On: June 15, 2024 08:05 PM NPT By: Republica  | @RepublicaNepal


Nepal bank, Prabhu bank, Siddharth Bank and Standard Chartered bank keep their interest rates constant

KATHMANDU, June 15: Commercial banks have reduced their interest rates for the month of Ashadh (mid-June to mid-July). Commercial banks have reduced interest rates with effect from June 15. The average interest rate on personal fixed deposits has been fixed at 6.86 percent.

In Jestha (mid-May to mid-June), commercial banks reduced the average interest rate on personal term deposits by 6.99 percent. The average interest rate on term deposits of banks has decreased by 0.13 percent for Ashadh. The average interest rate of banks has also decreased by 0.14 percent to 5.65 percent for institutional term deposits. In Jestha, the average interest rate of institutional banks was 5.79 percent.

In Ashadh, 11 banks have reduced their interest rates while only 3 banks have increased their interest rates. 

Nepal Bank, Prabhu Bank, Siddharth Bank and Standard Chartered Bank have kept their interest rates constant. These banks have maintained their interest rates at 7 percent.

NIC Asia Bank has fixed the maximum interest rate of 7.69 percent for personal term deposits and 6.69 percent for institutional deposits for Ashadh. The bank offered a maximum interest rate of 7.800 percent for individual deposits and a maximum interest rate of 6.800 percent for institutional deposits.

Kumari Bank has set a maximum interest rate of 6.56 percent for personal term deposits and 5.61 percent for institutional term deposits. In Jestha, the interest rate of the bank was 7.06 percent for personal and institutional term deposits and 6.26 percent for institutional term deposits, respectively.

Everest Bank has offered the maximum interest rate at 5.75 percent for personal term deposits and 4.75 percent for institutional term deposits. This bank also had a maximum interest rate of 6.50 percent for persons and 5.50 percent for institutions in Jestha.

NMB Bank has maintained a maximum interest rate of 7.69 percent for personal term deposits and 6.66 percent for institutional term deposits. In Jestha, this bank set a maximum interest rate of 7.80 percent for personal term deposits and 6.80 percent for institutional deposits.

Citizens International Bank has set a maximum interest rate of 6.9 percent for personal term deposits and 5.9 percent for institutional term deposits. In Jestha, this bank offered a maximum interest rate of 7 percent on individual term deposits and 6 percent for institutional deposits.

Sanima Bank has maintained a maximum interest rate of 6.8 percent for personal term deposits and 5.8 percent for institutional term deposits. This bank maintained the interest rates at 6.9 percent and 5.9 percent in Jestha.

Prime Commercial Bank has set a maximum interest rate of 6.75 percent for personal term deposits and 5.75 percent for institutional deposits. In Jestha, the maximum interest rate of this bank was 7 and 6 percent towards personal deposits and institutional term deposits, respectively.

Lakshmi Sunrise Bank has set a maximum interest rate of 6.5 percent for personal term deposits and 5.5 percent for institutional deposits. In Jestha, this bank had a maximum interest rate of 7 percent for individuals and 6 percent for institutions.

Global IME Bank has maintained a maximum interest rate of 6.5 percent for personal term deposits and 5.5 percent for institutional deposits. In Jestha, this bank gave a maximum interest rate of 7.5 percent to individuals and 6.5 percent to institutions.

National Commercial Bank has also set a maximum interest rate of 6.22 percent for personal term deposits and 5.2 percent for institutional deposits. In the previous month, this bank had a maximum interest rate of 6.4 percent for personal term deposits and 5.35 percent for institutional deposits.

On the contrary, Himalayan and Nabil Bank have increased interest rates. Both the banks have set a maximum interest rate of 8.25 percent for personal term deposits and 7 percent for institutional deposits.

 


Leave A Comment