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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