KATHMANDU: Commercial banks have announced new interest rates for term and savings accounts for the upcoming month.
Due to sufficient liquidity in the market and sluggish demand for credit, most banks have adopted a strategy of either reducing or maintaining stable deposit interest rates.
Nabil Bank and Prabhu Bank are offering the highest interest rates on personal term deposits at 4.55 percent.
NMB Bank, Sanima Bank, and Nepal Investment Mega Bank have set their rates at up to 4.50 percent. Meanwhile, Nepal Bank has set its rate at 4.15 percent, Everest Bank at 4.05 percent, while Rastriya Banijya Bank, Global IME Bank, and NIC Asia Bank have each set a rate of 4 percent. Standard Chartered Bank and Kumari Bank have set rates of 3.80 percent and 3.46 percent, respectively.
For savings accounts, Nepal Investment Mega Bank and Everest Bank are offering up to 3.75 percent interest. Kumari Bank is providing 3.31 percent, while NIC Asia Bank is offering 3.25 percent.
Additionally, Prabhu Bank and Nepal Bank are offering 3.00 percent interest, while Nabil Bank, Sanima Bank, and Rastriya Banijya Bank have set their rates at 2.80 percent.
NMB Bank, Global IME Bank, and Standard Chartered Bank have set their savings interest rates at 2.75 percent.
