Seven Commercial Banks Reduce Interest Rates for Ashad

Kathmandu. Only a few commercial banks have reduced interest rates for the month of Ashad. According to the interest rate tables published by the banks, 7 banks have reduced interest rates in the month of Ashad. While 7 banks reduced interest rates, 13 banks have kept interest rates stable. For Ashad, 2 out of 20 banks have brought the maximum interest rate on personal fixed deposits below 4 percent. Among them, 13 banks have kept the interest rate on personal fixed deposits the same, while 7 banks have reduced it. No bank has increased interest rates for the month of Ashad. The personal and institutional interest rates of the remaining banks are the same in both Jestha and Ashad. According to the interest rates for Ashad published by the banks, most banks have continued the rates from Jestha. However, due to sufficient liquidity in the market and less competition in deposit collection, some banks have reduced the interest rates on fixed deposits. For Ashad, NIC Asia, NMB, Prime, Himalayan, and Standard Chartered Bank have reduced interest rates on fixed deposits. Banks that have kept interest rates stable have concluded that there is no immediate need to change the rates, evaluating the current market situation.