Kathmandu. Banks have announced the interest rates applicable for the month of April. The central bank has published a notice today and made public the interest rates applicable for the month of April.
Most of the commercial banks have kept the maximum interest rate on personal fixed deposits stable for the month of April, while some have reduced it. According to the data received so far, 10 commercial banks have continued the interest rate of March.
They are Nepal SBI Bank, Sanima Bank, Prabhu Bank, Prime Commercial Bank, NMB Bank, Nepal Bank, Machhapuchchhre Bank, Laxmi Sunrise Bank, Global IME Bank and Agricultural Development Bank. The maximum interest rate on fixed deposits in March was 4.25 per cent, 4.50 per cent, 4.50 per cent, Prabhu Bank 4.55 per cent, Prime Commercial Bank 4.15 per cent, NMB Bank 5 per cent, Nepal Bank 4.50 per cent, Machhapuchchhre Bank 4.50 per cent, Laxmi Sunrise Bank 4.50 per cent, Global IME Bank 4.50 per cent and Agriculture Development Bank 4.15 per cent. Now, these banks will pay the same interest in April as well.
The commercial banks which have reduced the interest rate are Siddhartha Bank, Rastriya Banijya Bank, NIC Asia Bank, Himalayan Bank, Everest Bank, Citizens Bank and Kumari Bank. Similarly, Siddhartha Bank will provide interest rate of 4.05 per cent, Rastriya Banijya Bank 4.75 per cent, NIC Asia Bank 4.75 per cent, Himalayan Bank 4.50 per cent, Everest Bank 4.05 per cent, Citizens Bank 4.15 per cent and Kumari Bank 4.05 per cent. Similarly, Siddhartha Bank Bank has started interest on the bank at 4.25 per cent, Rastriya Banijya Bank 5 per cent, NIC Asia Bank 5 per cent, Himalayan Bank 5 per cent, Everest Bank 4.25 per cent, Sigitans Bank 4.50 per cent and Kumari Bank 4.12 per cent.
Standard Chartered Bank has increased the interest rate to 5.10 percent in April. In March, the bank had given 4.15 percent interest.
On the other hand, most of the national level development banks have reduced the interest rates. The bank has reduced the interest rate on fixed deposits to 4.95 percent, Kamana Bikas Bank to 5 percent, Mahalaxmi Bikas Bank to 4.95 percent, Muktina Bikas Bank to 4.95 percent and Shangrila Development Bank to 4.95 percent. In March, Jyoti Bikas Bank had provided 5.11 per cent interest, Kamana Bikas Bank 5.11 per cent, Mahalaxmi Bikas Bank 5.15 per cent, Muktinath Bikas Bank 5.15 per cent and Shangrila Development Bank 5.11 per cent.
Meanwhile, Garima Bikas Bank has decided to continue the interest rate of 5.43 percent in April.
