KATHMANDU, Oct 17: Commercial banks have reduced deposit interest rates from mid-October to mid-November (Kartik). The maximum interest rate on personal fixed deposits of 20 commercial banks declined by an average of 0.21 percentage points from mid-September to mid-October compared to Kartik (Ashoj).
In the month of Ashoji, the average interest rate for personal longest term of these commercial banks was 6.39 per cent. However, in Kartik it decreased to 6.18%. In Bhadra, the average interest rate on maximum personal fixed deposits was 6.50 per cent.
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According to the announcement, Sanima Bank has increased the maximum interest rate on personal fixed deposits for Kartik compared to Ashoji. Similarly, 10 banks cut interest rates and nine banks kept interest rates unchanged.
Banks offering lower interest rates on personal fixed deposits include Agricultural Development Bank, Rastriya Banilla Bank, Lakmi Sunrise Bank, Prime Commercial Bank, Citizens Bank, Nabil Bank, Siddhartha Bank, Standard Chartered Bank, NIC Asia, Includes Himalayan Bank.
Similarly, Global IME, Kumari Bank, SBI Bank, Nepal Bank Limited, Nepal Investment Mega Bank Limited, Machhapuchchhre Bank Limited, Everest Bank Limited, NMB Bank and Prabhu Bank have kept their interest rates constant.
