KATHMANDU, June 14: Commercial banks in Nepal have published their new interest rates for the month of Asar (mid-June to mid-July), with seven banks lowering rates while 13 others keeping them unchanged.
Out of 20 commercial banks, seven institutions have reduced their interest rates, while the remaining 13 have maintained the rates set in the previous month of Jestha (mid-May to mid-June).
Revised interest rate corridor system introduced
Banks that reduced interest rates include NIC Asia Bank, Standard Chartered Bank Nepal, Kumari Bank, Himalayan Bank, Prime Commercial Bank, Laxmi Sunrise Bank, and NMB Bank.
The average maximum interest rate on individual fixed deposits has dropped to 4.27 percent in Asar, compared to 4.34 percent in Jestha.
Similarly, the interest rate on institutional fixed deposits has also declined by 0.2 percentage points. It stood at 3.20 percent in Jestha and has fallen to 3.18 percent in Asar.
