Banks Increase Interest Rates To Double Digit Due To Liquidity Shortage
September 17, 2021 | Investopaper
After three years, the interest rate on term deposits (fixed deposits) has reached a maximum of 10 percent. In 2075 BS, the interest rates on fixed deposits had surged to 12-13 percent. Since then, it had gradually declined and fallen to an average of 7-7.5 percent. For the first time since then, interest rates have reached double digits.
The table below presents the maximum interest rate on fixed deposits offered by the commercial banks [As of Ashwin 1, 2078 BS].
Interest Rate On Fixed Deposits By Commercial Banks
S.N. | Commercial Banks | Interest Rate On Fixed Deposits, % (Maximum) |
1 | Sunrise Bank | 10.07 |
2 | Sanima Bank | 10.01 |
3 | Prime Commercial Bank | 9.76 |
4 | Mega Bank | 9.55 |
5 | NMB Bank | 9.52 |
6 | Global IME Bank | 9.5 |
7 | Nabil Bank | 9.26 |
8 | NCC Bank | 9.26 |
9 | Century Commercial Bank | 9.25 |
10 | Civil Bank | 9.25 |
11 | Rastriya Banijya Bank | 9.06 |
12 | Siddhartha Bank | 9.05 |
13 | Nepal Investment Bank | 9.02 |
14 | Laxmi Bank | 9 |
15 | Nepal Bangladesh Bank | 8.76 |
16 | Machhapuchchhre Bank | 8.75 |
17 | Everest Bank | 8.61 |
18 | Agricultural Development Bank | 8.6 |
19 | NIC Asia Bank | 8.6 |
20 | Nepal SBI Bank | 8.55 |
21 | Himalayan Bank | 8.5 |
22 | Bank Of Kathmandu | 8.27 |
23 | Prabhu Bank | 8.25 |
24 | Kumari Bank | 8.15 |
25 | Nepal Bank | 8.05 |
26 | Citizens Bank | 8 |
27 | Standard Chartered Bank | 7.5 |
Source: Notice Published By Respective Banks
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