PressAdda
Kathmandu: All commercial banks in Nepal have decided to reduce the average interest rate for the month of Mangsir. This has come as a shock to those who opened accounts expecting higher returns. According to the notice published on Sunday, out of 20 commercial banks, 10 have reduced the maximum interest rate on individual fixed deposits.
Meanwhile, 10 banks have continued with the same interest rates as in the month of Kartik. On average, the interest rate of commercial banks has decreased by 0.16 percentage points. Prime Commercial, NIC Asia, Kumari, Siddhartha, Himalayan, Standard Chartered, Citizens, Nabil, Nepal SBI, and Sanima Bank have reduced the maximum interest rate on individual deposits for Mangsir. The remaining 10 banks have maintained the same rates as Kartik.
For Mangsir, NIC Asia Bank has reduced the highest interest rate. Compared to Kartik, NIC Asia Bank has lowered its rate by 0.75 percentage points. In Mangsir, NIC Asia has set the maximum interest rate on individual fixed deposits at 5.75 percent. The highest interest rate in Mangsir for individual fixed deposits has been set by Global IME Bank, which will provide up to 6 percent interest. The lowest interest rate will be offered by Standard Chartered Bank, at a maximum of 4.7 percent.
How much for which bank?
