Commercial Banks Lower Interest Rates in Bhadra

Kathmandu. The trend of commercial banks lowering interest rates has continued. The new interest rate details published by commercial banks for the month of Bhadra show this. The average interest rate for both individual and institutional customers has decreased in Bhadra compared to the month of Saun. Out of twenty commercial banks, five have reduced the previous month's interest rate for the month of Bhadra, while the remaining fifteen have maintained the old rate. Siddhartha Bank and Nepal Bank have reduced the most interest rates. Siddhartha Bank has cut interest rates by 0.29 percent for individuals and 0.20 percent for institutions. Similarly, Nepal Bank has reduced interest rates by 0.1 percent for individuals and 0.5 percent for institutions. Likewise, Citizens Bank International has reduced interest rates by 0.1 percent for individuals, while Kumari Bank has reduced by 0.09 percent and Standard Chartered Bank by 0.05 percent. All three of these banks have kept the interest rate for institutions stable at the Saun month's rate. However, most commercial banks have continued the Saun month's interest rates in Bhadra as well. Fifteen banks, including Nabil, Prabhu, Nepal Investment Mega, NMB, Sanima, Machhapuchchhre, Krishi Bikash, Nepal SBI, Everest, Himalayan, Laxmi Sunrise, NIC Asia, Rastriya Banijya, Prime Commercial, and Global IME, have not made any changes to the interest rates on both individual and institutional fixed deposits. Amidst the declining trend in interest rates, no commercial bank has increased its interest rates for the month of Bhadra. According to the newly published rates, Nabil Bank and Prabhu Bank will offer the highest interest rates on individual fixed deposits in the month of Bhadra. These two banks have set a maximum interest rate of 4.55 percent for individuals. On the other hand, Kumari Bank and Siddhartha Bank have the lowest interest rates on individual fixed deposits, where customers will receive a maximum of only 3.76 percent interest. In the case of institutional fixed deposits, Nepal Investment Mega, NMB, Nepal Bank, Everest, and Himalayan Bank have set the highest interest rate at 3.5 percent. Prabhu, Krishi Bikash, Nepal SBI, Prime Commercial, Global IME, and Standard Chartered Bank have set the lowest interest rate at only 2.75 percent. See the status of interest rates set by banks for Bhadra: