Kathmandu, July 15: Nepalese commercial banks have announced new interest rates for the month of Shrawan. The rates have been slightly decreased as compared to the rates in Ashad.
Of the 20 commercial banks that released new rates, 14 have reduced their interest rates, while four have kept them unchanged. The banks maintaining their previous rates include Laxmi Sunrise Bank, Nabil Bank, Nepal Investment Mega Bank, and Nepal SBI Bank.
Himalayan Bank stands out with the most significant rate reduction, decreasing both individual and institutional fixed deposit rates by 0.75 percent and 0.50 percent, respectively.
Conversely, two banks—Agriculture Development Bank and Everest Bank—have increased their interest rates for Shrawan. Agriculture Development Bank has made the most notable increases, raising individual fixed deposit rates by 0.63 percent while keeping institutional fixed deposit rates unchanged.
They now offer a maximum of 6.2985 percent on individual fixed deposits and 4.01 percent on institutional fixed deposits.
According to Nepal Rastra Bank, the central bank of Nepal, Nepali banks have been facing liquidity in their coffers. The banks have to struggle for financing new business ventures, including on-going businesses.
New Interest Rates
