Kathmandu. All the 20 commercial banks have announced new interest rates for May.
According to the information released by the banks, three have increased the maximum interest rate on personal fixed deposits and three have reduced it. The remaining 16 have kept the interest rate unchanged.
Nepal Bank, Sanima Bank and Everest Bank have increased the interest rate. Nepal Bank has increased the maximum interest rate on personal term deposits to 5.45 percent, Sanima Bank to 6.33 percent and Everest Bank to 6.64 percent. The maximum interest rate on personal term deposits was 5.15 per cent for Nepal Bank, 5.95 per cent for Sanima Bank and 6.61 per cent for Everest Bank.
Similarly, Kumari Bank, Siddhartha Bank and Nepal Investment Mega Bank have reduced the interest rate. Kumari Bank has fixed the maximum interest rate on personal term deposits at 5.71 per cent, Siddhartha Bank at 5.75 per cent and Nepal Investment Mega Bank at 5.5 per cent. Kumari Bank had given 5.92 per cent interest rate, Siddhartha Bank 6 per cent and Nepal Investment Mega Bank 6.5 per cent.
NIC Asia and NMB Bank are the top banks offering the highest interest rate on individual term deposits in May. Both these banks will offer 6.6 percent interest.
Similarly, Nepal Bank has been the lowest interest payer on personal term deposits in May. The bank is offering 5.45 per cent interest.
