April 11, 2022 | Investopaper
Banks have decided not to raise interest rates on deposits in Baisakh. Nepal Bankers’ Association, an umbrella organization of commercial banks, has already reached to an agreement for this on Sunday.
BFIs have decided to keep interest rates stable for the month of Baisakh as deposits is not expected to increase even after raising interest rates.
Commercial banks had raised interest rates on deposits last Falgun. In Chaitra, interest rates on deposits were kept stable.
Banks are now planning to publish interest rates for the month of Baisakh. Accordingly, banks will provide a maximum interest rate of 11.03 percent on one-year personal term (fixed) deposits. Similarly, on institutional fixed deposits, a maximum interest rate of 10.03 percent will be maintained. Likewise, in ordinary savings, the banks will offer an interest rate of 6.03 percent.