Interest Rate on Fixed (Term) Deposits Offered by Commercial Banks Drops to 6.74 Percent

July 15, 2024 | Investopaper

Fixed or term deposits are financial instruments offered by banks and other financial institutions that allow individuals and businesses to deposit a sum of money for a predetermined period of time at a fixed interest rate. Fixed deposits have long been a favored investment avenue for individuals and institutions alike, offering a secure and predictable way to grow savings.

As fixed deposits are one of the cornerstone of financial planning, the variation in interest rates among commercial banks allows investors to tailor their choices to match their risk appetite, investment horizon, and growth expectations.

Here, we have presented the interest rate on fixed (term deposits) offered by the 20 commercial banks operating in Nepal. The rates are effective from Shrawan 1, 2081 BS.

Interest Rate On Fixed (Term) Deposits Offered By Commercial Banks

Fixed Deposit Interest Rate (In %)

		Shrawan, 2081 BS		Ashad, 2081 BS
Rank	Commercial Banks	Individual	Institution	Individual	Institution
1	NIC Asia Bank	7.53	6.53	7.69	6.69
2	NMB Bank	7.53	6.53	7.69	6.69
3	Himalayan Bank	7.5	6.5	8.25	7
4	Machhapuchchhre Bank	7	5.25	7.5	5.75
5	Nabil Bank	7	6	7	6
6	Nepal Investment Mega Bank	7	6	7	6
7	Prabhu Bank	7	6	7.5	6.5
8	Standard Chartered Bank Nepal	7	4.75	7	5
9	Citizens Bank	6.75	5.75	6.9	5.9
10	Siddhartha Bank	6.75	5.5	7	5.75
11	Kumari Bank	6.71	5.56	6.76	5.61
12	Laxmi Sunrise Bank	6.5	5.5	6.5	5.5
13	Prime Commercial Bank	6.5	5.5	6.75	5.75
14	Sanima Bank	6.4	5.1	6.8	5.8
15	Everest Bank	6.3	5.3	5.75	4.75
16	Nepal SBI Bank	6.3	5.3	6.3	5.3
17	Agricultural Development Bank	6.2985	4.01	5.6661	4.01
18	Global IME Bank	6.25	5.25	6.5	5.5
19	Nepal Bank	6.25	4.25	6.75	4.75
20	Rastriya Banijya Bank	6.21	5	6.22	5.2

	Average	6.74	5.48	6.88	5.67