Kathmandu. Most of the banks have kept interest rates stable for the month of April.
Banks and financial institutions have announced the bank interest rate to be applicable for the month of April 2019. Out of the 16 commercial banks received so far, 12 have continued the interest rate for March, reduced three and increased one.
Global IME Bank, Krishi Bikas Bank, Himalayan Bank, Laxmi Sunrise Bank, Machhapuchhre Bank, NMB Bank, Prime Commercial Bank, Prabhu Bank, Rastriya Banijya Bank, Nepal SBI Bank, Siddhartha Bank and Standard Chartered Bank have continued the maximum interest rates on individual fixed deposits for the month of April. Global IME Bank gave 6 percent, Agriculture Development Bank 5.51 percent, Himalayan Bank 5.5 percent, Laxmi Sunrise Bank 5.75 percent, Machhapuchhre Bank 6 percent, NMB Bank 6.60 percent, Prime Commercial Bank 6.25 percent, Prabhu Bank 6.10 percent, Rastriya Banijya Bank 6 percent, Nepal SBI Bank 5.5 percent, Siddhartha Bank 6 percent and Standard Chartered Bank 6.25 percent. Now this interest rate will continue in April.
Similarly, Everest Bank has increased the maximum interest rate on personal fixed deposits in April compared to Mid-April, while Kumari Bank, Nepal Bank and Sanima Bank have reduced it. Everest Bank has fixed the maximum interest rate on individual term deposits at 6.61 per cent, Kumari Bank at 5.92 per cent, Sanima Bank at 5.95 per cent and Nepal Bank at 5.15 per cent. Everest Bank had offered 6 percent interest rate, Kumari Bank 6.01 percent, Sanima Bank 6.05 percent and Nepal Bank 5.5 percent.
According to the provisions of Nepal Rastra Bank, banks can determine the interest rate on remittance deposits by reducing the maximum interest rate on personal fixed deposits by up to 1 percent and the interest rate on institutional fixed deposits by increasing it by up to 1 percent.
