Commercial Banks Lower Interest Rates in Bhadra
Summary
Commercial banks in Nepal have lowered deposit interest rates for Bhadra, with five banks cutting rates and none increasing them. Nabil and Prabhu Bank are offering the highest individual fixed deposit rates, while several banks have set the lowest institutional deposit rates.
Key Points
- Commercial banks have continued lowering interest rates for Bhadra, with the average rate for individual and institutional customers falling from Saun.
- Siddhartha Bank and Nepal Bank made the biggest cuts, while Citizens Bank International, Kumari Bank, and Standard Chartered Bank also reduced individual deposit rates.
- Fifteen banks, including Nabil, Prabhu, NMB, and NIC Asia, kept both individual and institutional fixed deposit rates unchanged.
- No commercial bank increased interest rates, and Nabil and Prabhu Bank will offer the highest individual fixed deposit rate at 4.55 percent.
