Commercial banks, barring a few, reduce interest rates

Khabarhub

September 16, 2020

2 MIN READ

Commercial banks, barring a few, reduce interest rates

An ATM of Civil Bank (Image for Representation)

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KATHMANDU: As many as 14 commercial banks on Wednesday published their interest rates profile for the month of Asoj.

Several of them have retained their previous interest rates.

The Civil Bank Limited has decreased the base rate to 9.51% from the previous 9.84%.

The Himalayan Bank Limited has also decreased the interest rate for saving schemes.

The bank, which earlier provided interest from 2.75% to 4.75%, has set new rates from 2 – 4%.

Likewise, it has also dropped the interest for fixed deposits.

Customers depositing money in fixed deposit will get interest payments in the range of 4% to 6%.

Meanwhile, the Siddhartha Bank Limited has also decreased the higher limit of the interest rate for fixed deposits to 8% from the previous 7.75%.

Likewise, Mega Bank has fixed its interest rates from 3% to 5% for saving scheme.

Earlier, the bank’s range was 3.5% to 5%.

Similarly, the Nepal Investment Bank Limited has also reduced its base rate from 7.88% to 7.49%.

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