Siddhartha Bank (SBL) Introduces New Interest Rate

September 4, 2020 | Investopaper

Siddhartha Bank has published a new interest rate for its deposits and loans. The interest rates are effective from September 4, 2020 (Bhadra 19, 2077).

Related: List of ‘A’ Class Commercial Banks In Nepal

Siddhartha Bank (SBL) will provide up to 5 percent in savings deposit and 7.75 percent in individual fixed deposits.

Likewise, the loans will be floated with a premium of up to 5 percent on the base rate. The base rate as of Ashad, 2077 is 9.03 percent. The interest rate spread as of Ashad, 2077 stands at 4.33 percent.

See the interest rate provided by Siddhartha Bank (SBL) below:

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Siddhartha Bank (SBL) Interest Rate

Effective from September 4, 2020
DEPOSITS
Saving Deposit (NPR)  Interest Rate (% p. a.)
Siddhartha Platinum Saving 5
Siddhartha Super Salary 5
Siddhartha Mero Share Khata 3
Siddhartha Jestha Nagarik Bachat 3
Siddhartha Swornim Bachat 3
Siddhartha Bachat Account 3
Siddhartha Nari Bachat 3
Branchless Banking Account 3
Student Savings 3
Siddhartha Esewa Bachat Khata 3
Siddhartha Bal Bachat Khata 3
Siddhartha Remit Account 3
Siddhartha RF Saving 5
Siddhartha Sajilo Bachat Khata 5
Siddhartha Peacekeeping Savings 5
Siddhartha Jeevan Surakshya Bachat Khata 5
Siddhartha Professional Account 5
Call Deposit upto 2%
Fixed Deposit (NPR) Interest Rate (% p.a.)
Institutions

Tenure : 3 months & above

  6.5 (6.6 for renewal)
Individual

Tenure : 3 months to upto 1 year

Tenure : Above 1 year

 

7.25

7.75

Foreign Currency Deposit Interest Rate (% p.a.)
Siddhartha USD Savings 2 %
Siddhartha Remit USD Savings 2 %
Siddhartha USD Call Deposit Negotiable
Siddhartha USD Fixed Deposit (For 1 year) Negotiable
Siddhartha GBP Savings 0.5 %
Siddhartha Euro Savings 0.5 %
Other FCY Deposit & Fixed Deposits Negotiable
Siddhartha Special FCY Fixed Deposit Account

– For NRNs and Foreign Institutions

– Minimum balance USD 10,000 or equivalent

– Tenure : 2 years & above

– USD @ 6 months LIBOR + 4%

– GBP @ 2.5 %

– EUR @ 2 %

Other terms & conditions of the deposits products remain unchanged.
LOANS & ADVANCES           
Description Interest Rate (% p.a.)
Overdraft/Cash Credit
Industry/Trading Base Rate + upto 5 %
Import Loan
Industry/Trading Base Rate + upto 4%
Working Capital Loan
Industry/Trading Base Rate + upto 5%
Short Term Loan
Industry/Trading Base Rate + upto 5%
Term Loan
Industry/Trading Base Rate + upto 5%
Bridge Gap Loan Base Rate + upto 5%
Home Loan Base Rate + upto 5%
Auto Loan/Hire Purchase Loan Base Rate + upto 5%
Siddhartha Personal EMI Loan Base Rate + upto 5%
Education Loan Base Rate + upto 5%
Edudation Loan (Fixed Interest Rate for a period of 5 years) 11.75%
Mortgage Loan 
Overdraft Base Rate + upto 5%
Term Loan/Short Term Loan Base Rate + upto 5%
Export Finance 
Against USD LC Base Rate +upto 3.5%
Against NPR & other currency LC Base Rate + upto 4%
Against USD export documents Base Rate + upto 4%
Against NPR & other curreny export documents   Base Rate +upto 4.5%
Loan Against :
Fixed Deposit (Own) Coupon rate +1.5% to 3% or Base Rate + 1% whichever is higher
Fixed Deposit (Others) Coupon rate +2% to 5% or Base Rate +2% whichever is higher
Foreign Currency Deposits at SBL Base Rate + up to 3%
Government Bonds Coupon rate +2% to 5% or Base Rate +1.5% whichever is higher
First Class Bank Guarantees issued by Foreign Banks Base Rate + upto 4%
Other Bank Guarantees issued by Foreign Banks Base Rate + upto 4.5%
Loan against Shares Base Rate +upto 5%
FCY Loan Denominated in USD LIBOR plus mutually agreed premium
Consortium Loan As per consortium decision
Deprived Sector Lending:
Wholesale Lending Base Rate + upto 4%
Direct Lending Base Rate + upto 5%
Agriculture & small business loan upto Rs 1.5 million (as prescribed by NRB) Base Rate +2%
Others Base Rate +upto 5%
Ashadh 2077 Base Rate   9.03%
Ashadh 2077 Interest Spread Rate   4.33%
Note:

1. The effective applicable interest rates on loans is subject to change with effect from the first day of Shrawan, Kartik, Magh and Baisakh as triggered by the change in the Base Rate of the Bank on each previous quarter end.

2. In case of loans approved under NRB refinance, interest rates shall be applicable as per NRB directives.

3. In case of loans eligible under interest subsidy, premium rates shall be applicable as per the circulars issued by NRB.

 

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