KATHMANDU: Commercial banks in Nepal have published new deposit interest rates for the month of Baisakh, with data showing a slight decline in the average rate for individual deposits compared to the previous month.
According to figures released by the Nepal Bankers’ Association, the average interest rate for individual fixed deposits at commercial banks has decreased marginally from 4.49 percent in Chaitra to 4.41 percent in Baisakh, a drop of 0.08 percentage points.
Among the banks offering the highest interest rates for individual deposits are NMB Bank and Rastriya Banijya Bank, both maintaining a rate of 5 percent. Meanwhile, Siddhartha Bank has set the lowest rate at 4 percent.
In contrast, the average interest rate for institutional deposits has recorded a slight increase. The rate has risen from 3.29 percent in Chaitra to 3.33 percent in Baisakh, reflecting a difference of 0.06 percentage points.
Banks adjusting interest rates
For Baisakh, six commercial banks have reduced their interest rates on individual deposits, while one bank has increased them.
Banks lowering their individual deposit rates include Himalayan Bank (0.50%), Citizens Bank International (0.35%), Siddhartha Bank and NIC Asia Bank (0.25% each), Everest Bank (0.20%), and Standard Chartered Bank Nepal (0.01%).
Meanwhile, Agricultural Development Bank has increased its interest rate by 0.04 percent for individual deposits and by 0.03 percent for institutional deposits.
Several banks have kept their rates unchanged for Baisakh, including Nepal Bank Limited, Nepal SBI Bank, Laxmi Sunrise Bank, Global IME Bank, Prime Commercial Bank, Prabhu Bank, Machhapuchchhre Bank, NMB Bank, Sanima Bank, Rastriya Banijya Bank, and NIMB Bank.
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