Commercial banks in Nepal have published their new interest rates for the month of Ashwin, showing a further decrease in the average interest rate on individual fixed deposits.
Commercial Banks Reduce Interest Rates for Ashwin
Commercial banks have announced their new interest rates for the month of Ashwin. According to the published reports, the average maximum interest rate that banks offer on individual fixed deposits has gone down in Ashwin compared to Bhadra.
Looking at the details of 20 commercial banks, the average maximum interest rate for individual fixed deposits was 4.1360 percent in Bhadra, which have decreased to 4.0896 percent in Ashwin. This means the average interest rate dropped by 0.046 percentage points.
Recent Trends in Interest Rates
Before this, the average interest rate for individual fixed deposits had also decreased in Bhadra by 0.0315 percentage points compared to Shrawan. For the month of Ashwin, four commercial bank has decreased their interest rates, while 16 other banks chose to keep their rates the same as Bhadra.
The banks that reduced their interest rates in Ashwin are Nabil Bank, Everest Bank, Standard Chartered Bank, and Kumari Bank. The remaining 16 commercial banks did not change their rates.
Now, the highest interest rate on individual fixed deposits from these banks has dropped below 4.55 percent. Prabhu Bank is offering a slightly higher interest rate compared to other banks in Ashwin. However, this 4.55 percent interest rate is only for fixed deposits with a duration of more than 10 years, meaning the rates will differ depending on the time period you choose.
Interest Rates of Different Commercial Banks in Bhadra and Ashwin
Here is how much interest each bank is giving on individual fixed deposits for Bhadra and Ashwin:
| S.N. | Commercial Bank | Bhadra | Ashwin |
|---|---|---|---|
| 1 | Agricultural Development Bank | 4.15% | 4.15% |
| 2 | Citizens Bank | 3.85% | 3.85% |
| 3 | Everest Bank | 4.05% | 3.50% |
| 4 | Global IME Bank | 4.00% | 4.00% |
| 5 | Himalayan Bank | 4.00% | 4.00% |
| 6 | Investment Mega Bank | 4.50% | 4.50% |
| 7 | Kumari Bank | 3.76% | 3.73% |
| 8 | Laxmi Sunrise Bank | 4.00% | 4.00% |
| 9 | Machhapuchchhre Bank | 4.50% | 4.50% |
| 10 | Nabil Bank | 4.55% | 4.25% |
| 11 | Nepal Bank | 4.15% | 4.15% |
| 12 | Nepal SBI Bank | 4.10% | 4.10% |
| 13 | NIC Asia Bank | 4.00% | 4.00% |
| 14 | NMB Bank | 4.50% | 4.50% |
| 15 | Prime Commercial Bank | 4.00% | 4.00% |
| 16 | Prabhu Bank | 4.55% | 4.55% |
| 17 | Rastriya Banijya Bank | 4.00% | 4.00% |
| 18 | Sanima Bank | 4.50% | 4.50% |
| 19 | Siddharth Bank | 3.76% | 3.76% |
| 20 | Standard Chartered Bank | 3.80% | 3% |
AI Disclaimer: This article was originally published on https://bajarkochirfar.com. It has been translated with the help of AI. For the best understanding and accurate facts, we recommend reading the original Nepali version.
