Banks revise fixed deposit rates

KATHMANDU: Commercial banks have published their fixed deposit (FD) interest rates for the month of Bhadra (August 17-Sep 16).

Of the 20 banks, 11 maintained the same rates as in the Nepali month of Shrawan (mid-July to mid-August), while nine made revisions. Among those, eight banks reduced their rates and only one opted for an increase.

Standard Chartered Bank Limited (SCB) made the largest cut in institutional FD rates, slashing them by 1.13 percentage points—from 6.26% in Shrawan to 5.13% in Bhadra.

Siddhartha Bank Limited (SBL) also reduced its institutional FD rate by 0.75 percentage points, bringing it down from 4.75% to 4%.

In contrast, Prabhu Bank Limited (PRVU) was the only bank to hike rates, raising its institutional FD rate by 1.10 percentage points—from 4.25% in Shrawan to 5.35% in Bhadra.

At present, Laxmi Sunrise Bank Limited (LSL) offers the lowest individual FD rate at 5%, while SCB has the lowest institutional FD rate at 2.75%.

On the higher side, NIC Asia Bank Limited (NICA) tops the chart with 6.25% for individual deposits and 5.25% for institutional deposits.