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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