Kathmandu. Banks and financial institutions (BFIs) have published the information on the interest rates fixed for the month of June today. According to the information received so far, out of 16 commercial banks, 6 have reduced the maximum interest rate on personal fixed deposits for June 2018 while 9 have kept it stable. One has been increased.
NIC Asia, Himalayan Bank, Standard Chartered, NMB Bank, Citizens Bank and Nepal Bank have reduced the interest rate. NIC Asia has reduced the maximum interest rate on individual fixed deposits to 4.50 percent, Himalayan Bank to 4.25 percent, Standard Chartered to 4.4 percent, NMB to 4.80 percent, Citizens Bank to 4.10 percent and Nepal Bank to 4.25 percent. In April, NIC Asia Bank has fixed the maximum interest rate of 4.75 percent, Himalayan Bank 4.50 percent, Standard Chartered 4.10 percent, NMB 4.90 percent, Citizen Bank 4.15 percent and Nepal Bank 4.50 percent.
Similarly, Nepal Investment Bank Mega, SBI, Avest, Prime Commercial, Global IME Bank, Machhapuchchhra Bank, Prabhu Bank, Agriculture Development Bank and Rastriya Banijya Bank have kept the interest rate stable. Nepal Investment Mega Bank will provide 4.50 per cent, SBI 4.25 per cent, Avest 4.05 per cent, Prime Commercial Bank 4.15 per cent, Global IME Bank 4.50 per cent, Machhapuchchhra 4.50 per cent, Prabhu Bank 4.55 per cent, Agriculture Development Bank 4.15 per cent and Rastriya Banijya Bank 4.75 per cent. These banks had paid the same amount of interest in April.
Siddhartha Bank has increased the interest rate. Siddhartha Bank has increased the interest rate on personal fixed deposits to 4.05 percent in May. It was 4 percent in April.
At the national level, most of the development banks have reduced the interest rates. Lumbini, Muktinath, Kamana Sewa and Shangri-La have reduced the maximum interest rate on individual fixed deposits for the month of Jeth. Lumbini will now offer 4.85 per cent interest on individual fixed deposits, 4.81 per cent for Muktinath, 4.85 per cent for Kamana Sewa and 4.81 per cent for Shangri-La. Lumbini Bank was offering 5 per cent interest, Muktinath 4.95 per cent, Kamana Sewa 5 per cent and Shangri-La 4.95 per cent.
Among the national level development banks, Garima and Mahalaxmi have decided to continue the interest rate of 5.43 percent and 4.95 percent respectively in May.
