Commercial Banks Maintain Deposit Interest Rates in October
Summary
Commercial banks in Nepal have largely kept deposit interest rates unchanged for October, ending a long downward trend. Only four banks cut rates, while the average maximum rate on individual fixed deposits slipped slightly to 4.09 percent.
Key Points
- Most of the 20 commercial banks kept their deposit interest rates unchanged for October.
- Only Everest, Nabil, Standard Chartered, and Kumari reduced the maximum rate on individual fixed deposits.
- Everest Bank made the biggest cut, lowering its rate from 4.05 percent to 3.5 percent.
- The average maximum interest rate across the banks fell slightly from 4.14 percent to 4.09 percent.
