KATHMANDU: Commercial banks have unveiled their new interest rates for the upcoming month of Mangsir (mid-November to mid-December), marking notable changes in the financial landscape.
Out of the 20 banks that disclosed their rates, a majority have opted to decrease deposit interest rates, presenting a shift from the previous month.
Meanwhile, Machhapuchhre Bank stands out with an increase, and six other banks have maintained their October interest rates.
Comparing November to October, the interest rate for personal term deposits has experienced a decline, dropping by 0.331 percent to 9.632 percent.
In parallel, the maximum interest rate for institutional term deposits has decreased to 7.546 percent.
Everest Bank has reduced the interest rate by 0.22 percent for Mangsir, capping personal loans at a maximum of 9 percent and institutional loans at 7 percent.
Likewise, the Nepal SBI Bank has decreased term deposit rates by 0.097 percent, now standing at 10.60 percent for personal term deposits and 8.60 percent for institutional deposits.
The NIC Asia Bank has set a maximum interest rate of 8.96 percent for personal term deposits and 6.96 percent for institutional term deposits.
Similarly, the Standard Chartered Bank has fixed a maximum interest rate of 8.97 percent for personal term deposits and 5.25 percent for institutional term deposits.
Prabhu Bank, Sanima Bank, and Rastriya Commercial Bank have established a maximum interest rate of 9 percent for personal loans and 7 percent for institutional loans.
The Nabil Bank, too, has set maximum interest rates of 9.22 percent for personal term deposits and 7.22 percent for institutional term deposits.
Nepal Investment Mega Bank has set the fixed interest rates at 9.51 percent for personal term deposits and 7.51 percent for institutional term deposits.
The Machhapuchche Bank has, however, increased interest rates, with a maximum of 10.60 percent for personal loans and 8.60 percent for institutional loans.
The Himalaya Bank also reduced interest rates, setting a maximum of 10.60 percent for personal term deposits and 8.60 percent for institutional term deposits.
Prime Commercial Bank, Kumari Bank, Laxmi Sunrise, Citizens, and NMB Bank have maintained the interest rates on fixed deposits, with specific figures provided for each.
The Global IME Bank and Agricultural Development Bank have announced reductions, with Global IME Bank setting a maximum interest rate of 9.6 percent for personal term deposits and 7.6 percent for institutional, and Agricultural Development Bank fixing a maximum interest rate of 9.51 percent for personal term deposits and 7.51 percent for institutional term deposits.
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