Kathmandu. Tomorrow, August 1. As per the regulatory provisions, the banks have announced the interest rate to be implemented in August.
Out of the 14 commercial banks received so far, eight have reduced the maximum interest rate on personal fixed deposits for August while five have kept it stable. One has raised interest rates.
Standard Chartered Bank, Siddhartha Bank, Nepal ABI Bank, Sanima Bank, Kumari Bank, Everest Bank, Krishi Bikas Bank and Laxmi Sunrise Bank have reduced interest rates on individual fixed deposits. Standard Chartered Bank has reduced the interest rate to 5.13 percent, Siddhartha Bank 5.50 percent, Nepal SBI Bank 5.25 percent, Sanima Bank 6.75 percent, Kumari Bank 5.21 percent, Everest Bank 5.75 percent, Agriculture Development Bank 5.20 percent and Laxmi Sunrise Bank 5 percent.
Standard Chartered Bank had 6.25 percent, Siddhartha Bank 5.75 percent, Nepal SBI Bank 5.35 percent, Sanima Bank 7.18 percent, Kumari Bank 5.41 percent, Everest Bank 6.25 percent, Agriculture Development Bank 5.40 percent and Laxmi Sunrise Bank 5.50 percent.
Similarly, Himalayan Bank has increased the maximum interest rate on personal fixed deposits. The bank has increased the interest rate from 5.50 per cent in July to 6 per cent in August.
Nepal Bank, Global IME Bank, NIC Asia Bank, NMB Bank and Prime Commercial Bank have kept the interest rate stable. Nepal Bank had set 5.40 per cent interest rate, Global IME Bank 6 per cent, NIC Asia Bank 6.25 per cent, NMB Bank 6 per cent and Prime Commercial Bank 6 per cent. These banks have continued the same interest rate for August.
On the other hand, most of the development banks at the national level have continued the maximum interest rate on personal fixed deposits in August. Four banks — Garima Bikas Bank, Muktinath Bikas Bank, Kamna Sewa Bikas Bank and Mahalaxmi Bikas Bank — have continued their interest rates in August. Garima had fixed 6.11 per cent interest rate, Muktinath 6.25 per cent, Kamna Sewa 6.15 per cent and Mahalakshmi 6.11 per cent. These banks have continued the same interest rate for August.
