Commercial Banks Announce New Interest Rates for Shrawan 2083

Kathmandu. Commercial banks have published new interest rates for the month of Shrawan 2083. According to published data, the trend of decreasing interest rates of banks has not stopped in Shrawan. The average interest rate for both individual and institutional sectors has decreased in Shrawan compared to Asar. Among the 20 commercial banks for the month of Shrawan, some banks have reduced their previous month's interest rates. The bank that reduced the most interest rate is Rastriya Banijya Bank. This bank has reduced the interest rate by 0.75 percent for individuals and 1 percent for institutions. Similarly, Global IME Bank has reduced the interest rate by 0.5 percent for individuals and 0.25 percent for institutions, while NMB Bank has reduced it by 0.25 percent for individuals and 0.5 percent for institutions. Similarly, Citizens Bank International has reduced the interest rate by 0.15 percent for individuals and 0.5 percent for institutions. Agriculture Development Bank has reduced the interest rate by 0.03 percentage points for institutions, while Kumari Bank and Standard Chartered Bank have reduced the interest rate by 0.06 percent and 0.1 percent respectively for individuals only. However, most commercial banks have continued the interest rates of Asar in Shrawan. 12 banks including Nabil, Prabhu, Nepal Investment Mega, Sanima, Machhapuchchhre, Nepal SBI, Everest, Siddhartha, Himalayan, Laxmi Sunrise, NIC Asia and Prime Commercial have not made any changes to their individual and institutional fixed deposit interest rates. Amidst this trend of decreasing interest rates, Nepal Bank Limited has increased the interest rate for the institutional sector from a maximum of 3 percent to 4 percent. Nepal Bank has set the interest rate at this level for institutional fixed deposits of 4 years or longer. However, its interest rate for individuals remains stable at 4.25 percent. According to the newly published rates, Nabil Bank and Prabhu Bank will offer the highest interest rates on individual fixed deposits in the month of Shrawan. These two banks have set a maximum interest rate of 4.55 percent for individuals. On the other hand, Kumari Bank and Standard Chartered Bank have the lowest interest rates on individual fixed deposits, where customers will receive a maximum interest rate of only 3.85 percent. In the case of institutional fixed deposits, Nepal Bank has set the highest interest rate at 4 percent. Prabhu, Krishi Bikas, Nepal SBI, Prime Commercial, Global IME and Standard Chartered Bank have set the lowest interest rate at only 2.75 percent.

• Here are the bank interest rates for Shrawan