KATHMANDU: Commercial banks in Nepal have revised their deposit interest rates for the month of Baisakh, with new data from the Nepal Bankers’ Association showing a marginal decline in returns for individual savers.
The average interest rate on individual fixed deposits has dropped from 4.49 percent in Chaitra to 4.41 percent in Baisakh, marking a decrease of 0.08 percentage points.
Among commercial banks, NMB Bank and Rastriya Banijya Bank are offering the highest interest rate at 5 percent for individual deposits. In contrast, Siddhartha Bank has set the lowest rate at 4 percent.
Meanwhile, the average interest rate for institutional deposits has seen a slight increase, rising from 3.29 percent in Chaitra to 3.33 percent in Baisakh an uptick of 0.06 percentage points.
Banks Adjust Rates
Six commercial banks have lowered their interest rates on individual deposits for the month. These include Himalayan Bank (0.50%), Citizens Bank International (0.35%), Siddhartha Bank and NIC Asia Bank (0.25% each), Everest Bank (0.20%), and Standard Chartered Bank Nepal (0.01%).
On the other hand, Agricultural Development Bank has slightly increased its rates by 0.04 percent for individual deposits and 0.03 percent for institutional deposits.
Several banks have maintained their previous rates, including Nepal Bank Limited, Nepal SBI Bank, Laxmi Sunrise Bank, Global IME Bank, Prime Commercial Bank, Prabhu Bank, Machhapuchchhre Bank, NMB Bank, Sanima Bank, Rastriya Banijya Bank, and NIMB Bank.
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