Commercial banks have introduced a new interest rate effective from today (April 14).
A meeting of the Nepal Bankers Association on April 2 had decided to fix 9:99 percent interest rate for the depositors who deposit in the fixed deposit accounts (personal) and 7.99 percent (institutional).
They have reduced the interest rate, accordingly.
Prior to this, banks were offering 11 percent for the fixed deposit (personal) and 9 percent (institutional).
Nabil Bank
Nabil Bank is providing minimum 5.40 percent to maximum 8.40 percent interest to the depositors who deposit in the saving accounts.
Similarly, it provides 9.99 percent to the depositors who deposit in the personal fixed deposits, 10.99 percent in the remittance deposits and 7.99 percent interests in the institutional deposits.
The base rate of the bank is 10.10 percent. The bank has fixed the loan interest rate by adding five percent premium to the base rate.
Similarly, the bank has set a loan interest rate by adding 2 percent to the base rate for the sector determined by Nepal Rastra Bank.
The average loan interest rate of the bank is around 15 percent.
Standard Chartered Bank
Standard Chartered Bank is providing interest from minimum 5.40 to maximum 7 percent on ordinary savings account.
The bank provides 8 percent interest on remittance savings.
The bank will province 9.99 percent interest on personal accounts and 7.99 percent interest on institutional accounts.
Bank interest rate is 9.46 percent. The bank has fixed the loan interest rate by adding a minimum 2 to 4 percent premium to the interest rate. Bank borrowers will get loans at 13.99 percent interest rate.
Rastriya Banijya Bank
Rastriya Banijya Bank is giving interest from 5.40 percent to 7.40 percent on saving accounts. The bank is offering 5.40 percent interest rate on general savings account. Salary Savings Account is offering the highest interest rate.
It provides 9.90 percent interest rate on the personal side while the institutional side is paying up to 7.99 percent interest.
Bank interest rate has been maintained at 9.29 percent. The interest rate of the loan has been fixed by taking a minimum premium of 2 percent to 4 percent over the discount rate.
The bank has fixed interest rate of 14.25 percent to 16.25 percent on fixed loans.
Prime Commercial Bank
Prime Commercial Bank is offering minimum 5.40 percent to maximum 8.40 percent interest on ordinary deposits. Similarly, it is giving interest up to 9.99 percent on personal term and 8.40 percent on prime foreign savings account.
On the institutional side, the interest rate has been maintained at 7.99 percent. The bank has fixed the interest rate by maintaining a 5 percent premium on the bank rate.
Siddhartha Bank
Siddharth Bank has fixed the interest rate on savings account from minimum 5.40 to maximum 7.40.
The bank has maintained an interest rate of 9.99 percent for personal term. In remittance account, the interest rate has been maintained up to 10.99 percent. Similarly, 7.99 percent interest rate has been maintained for the institutional side.
Bank interest rate is 10.64 percent. In which the bank has fixed the interest rate of the loan by maintaining a maximum of 4.5 percent premium.
Nepal Investment Mega Bank
Nepal Investment Mega Bank has reduced the interest rate on fixed deposits and personal fixed deposits.
The bank has maintained an interest rate of 9.99 percent for individual term deposits and 7.99 percent for institutional deposits.
Global IME Bank
Global IM Bank has fixed the interest rate on savings account from minimum 5.40 to maximum 9.40.
Similarly, the interest rate has been maintained at 9.99 percent for individual term and 7.99 percent for institutional term.
The bank has fixed the interest rate of the loan by adding a 5 percent premium to the interest rate.
NIC Asia Bank
NIC Asia Bank has maintained the interest rates of savings and fixed deposits. The bank has fixed the interest rate on savings accounts from 7.40 percent to a maximum of 8.40 percent.
The bank has maintained an interest rate of 9.99 percent for individuals and 7.99 percent for institutions and 10.99 percent for remittances in term accounts.
For loans, the bank has fixed the loan interest rate by applying a 5 percent premium to the interest rate. The bank has maintained an interest rate of 14.99 percent for fixed loans.
Kumari Bank
Kumari Bank has fixed the interest rate on savings accounts from a minimum of 5.40 percent to a maximum of 6.40 percent.
It has maintained interest rates of 9.99 percent for individuals and 7.99 percent for institutions and 11 percent for Kumari remit accounts on fixed deposits.
The base rate of the bank is 10.82 percent. The bank has determined the interest rate of the loan by setting a minimum of 2 percent to a maximum of 5 percent premium on the bank rate.
Nepal Bank
Nepal Bank has fixed the interest rate on savings accounts from 5.40 percent to a maximum of 7.40 percent.
Similarly, 9.99 percent interest has been maintained for individuals and 7.99 percent interest for institutional accounts.
Base rate of the bank is 9.90 percent. The loan interest rate has been fixed by maintaining a maximum of 5 percent premium on the discount rate.
Sanima Bank
Sanima Bank has fixed interest rates on savings accounts from a minimum of 5.95 percent to a maximum of 8.40 percent.
Similarly, the interest rate has been maintained up to 9.99 percent for personal accounts and 7.99 percent for institutional accounts.
Lakshmi Bank
Lakshmi Bank has maintained a minimum interest rate of 6 to 8.4 percent on savings accounts.
Similarly, 9.99 percent interest rate on individual term deposits and 7.99 percent on institutional term deposits.
The bank has fixed the interest rate of the loan by fixing a maximum of 5 percent premium on the loan.
Agricultural Development Bank
Agricultural Development Bank has fixed interest rates on savings accounts from a minimum of 4.65 percent to a maximum of 8.40 percent.
The interest rate for individual terms has been maintained at 9.99 percent and for institutional terms up to 7.99 percent.
Bank interest rate is 11.06 percent. The bank has fixed the interest rate of the loan by keeping a minimum premium of 2 to 5 percent on the bank rate.
Prabhu Bank
Prabhu Bank has fixed the interest rate on savings account from minimum 5.40 percent to maximum 8.40 percent.
Interest rate has been maintained up to 9.99 percent on personal accounts and 7.99 percent on institutional account.
The bank has fixed the interest rate by maintaining a premium of up to 5 percent on the bank rate.
NMB Bank
NMB Bank has fixed interest rates on savings accounts from a minimum of 5.40 percent to a maximum of 8.40 percent.
The interest rate for individual terms has been maintained at 9.99 percent and for institutional terms up to 7.99 percent. The bank has fixed the interest rate by maintaining a premium of up to 5 percent on the bank rate.
Machhapuchhre Bank
Machhapuchhre Bank has fixed the interest rate on savings account from minimum 5.40 percent to maximum 8.40 percent.
The interest rate for individual terms has been maintained at 9.99 percent and for institutional accounts up to 7.99 percent.
The bank has fixed the base rate by maintaining a premium of up to 5 percent on the bank rate. Machhapuchhre Bank has maintained an interest rate of up to 16 percent on ten-year home loans and retail loans.
Sunrise Bank
Sunrise Bank has fixed the interest rate on savings account from minimum 5.40 percent to maximum 8.40 percent.
The interest rate has been maintained up to 9.99 percent for personal accounts and 7.99 percent for institutional accounts.
The bank has fixed the base rate by maintaining a premium of up to 5 percent on the bank rate. The bank has fixed 13 percent interest rate on fixed loans such as home loan, educational loan, auto loan.
Himalayan Bank
Himalayan Bank has maintained interest on savings accounts from a minimum of 5.40 percent to a maximum of 7.40 percent.
Interest rates have been maintained up to 9.99 percent for individuals and 7.99 percent for institutions.
Nepal SSBI Bank
Nepal SBI Bank has maintained an interest rate of 9.99 percent on individual accounts and 7.99 percent on institutional accounts. Bank has maintained 11% interest on remittance account.
The interest rate of the bank is 11.21 percent. The bank has fixed the base interest rate of the loan by keeping a 5 percent premium on the discount rate.
Everest Bank
Everest Bank has fixed the interest rate on savings account from minimum 5.40 percent to maximum 7.40 percent. 8.40 percent interest is maintained on remittance savings.
The interest rate remains up to 9.99 percent for individuals and 7.99 percent for institutions. The bank has fixed the interest rate of fixed loans with a premium of up to 5 percent.
The bank's base rate is 10.08. The loan interest rate is fixed by adding 4.5 percent premium to the interest rate.
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