Siddhartha Bank introduces new interest rate

INVESTOPAPER

Siddhartha Bank has published a new interest rate for its deposits and loans. The interest rates are effective from January 24, 2020 (Magh 10, 2076).

The bank will provide up to 6.5 percent in savings deposit and 9.25 percent in individual fixed deposits. Likewise, the loans will be floated with a premium of up to 6 percent on the base rate. The base rate as of Poush, 2076 is 10.04%.

Effective from January 24, 2020
DEPOSITS
Saving Deposit (NPR)  Interest Rate (% p. a.)
Siddhartha Platinum Saving 6.5
Siddhartha Super Salary 6.5
Siddhartha Mero Share Khata 5.5
Siddhartha Jestha Nagarik Bachat 5.5
Siddhartha Swornim Bachat 5.5
Siddhartha Bachat Account 5.5
Siddhartha Nari Bachat 5.5
Branchless Banking Account 5.5
Student Savings 5.5
Siddhartha Esewa Bachat Khata 5.5
Siddhartha Bal Bachat Khata 5.5
Siddhartha Remit Account 5.5
Siddhartha RF Saving 5.5
Siddhartha Sajilo Bachat Khata 6.5
Siddhartha Peacekeeping Savings 6.5
Siddhartha Jeevan Surakshya Bachat Khata

(Minimum Balance Rs. 20,000/-)

6.5
Siddhartha Professional Saving 6.5
Fixed Deposit Interest Rate (% p.a.)
Institutions

Tenure : 3 months & above

  8.5 (8.6 for renewal)
Individual

Tenure : 3 months & above

9.25
Foreign Currency Deposit Interest Rate (% p.a.)
Siddhartha USD Savings 2.75
Siddhartha Remit USD Savings 2.75
Siddhartha USD Call Deposit Negotiable
Siddhartha USD Fixed Deposit (For 1 year) 3.5
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 @ 5.25

– GBP @ 3.25

– EUR @ 2.25

Other terms & conditions of the deposits products remain unchanged.
LOANS & ADVANCES           
Description Interest Rate (% p.a.)
Overdraft/Cash Credit
Industry/Trading Base Rate + up to 5 %
Import Loan
Industry/Trading Base Rate + up to 4%
Working Capital Loan
Industry/Trading Base Rate + up to 5%
Short Term Loan
Industry/Trading Base Rate + up to 5%
Term Loan
Industry/Trading Base Rate + up to 5%
Bridge Gap Loan Base Rate + up to 5%
Home Loan Base Rate + up to 5%
Auto Loan/Hire Purchase Loan Base Rate + up to 5%
Siddhartha Personal EMI Loan Base Rate + up to 6%
Education Loan Base Rate + up to 5.5%
Mortgage Loan 
Overdraft Base Rate + up to 6%
Term Loan/Short Term Loan Base Rate + up to 5%
Export Finance 
Against USD LC Base Rate +upto 3.5%
Against NPR & other currency LC Base Rate + up to 4%
Against USD export documents Base Rate + up to 4%
Against NPR & other currency export documents   Base Rate +upto 4.5%
Loan Against :
Fixed Deposit (Own) Coupon rate +1.5% to 3% or Base Rate + 1% whichever higher
Fixed Deposit (Others) Coupon rate +2% to 5% or Base Rate +2% whichever higher
Foreign Currency Deposits at SBL Base Rate + up to 3%
Government Bonds Coupon rate +2% to 5% or Base Rate +1.5% whichever higher
First Class Bank Guarantees issued by Foreign Banks Base Rate + up to 4%
Other Bank Guarantees issued by Foreign Banks Base Rate + up to 4.5%
Loan against Shares Base Rate +upto 6%
FCY Loan Denominated in USD LIBOR plus mutually agreed premium
Consortium Loan As per consortium decision
Deprived Sector Lending:
Wholesale Lending Base Rate + up to 4%
Direct Lending Base Rate + up to 6%
Agriculture & small business loan up to Rs 1.5 million (as prescribed by NRB) Base Rate +2%
Others Base Rate +upto 6%
Poush 2076 Base Rate   10.04%
Poush 2076 Interest Spread Rate   5.17%
Note:

  1. Interest in FCY Loans (Pre Shipment, Post Shipment, Industrial Import) shall be as prescribed by NRB from time to time.
  2. The effective applicable interest rates on loans are 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.
  3. In case of loans approved under NRB refinance, interest rates shall be applicable as per NRB directives.
  4. In case of loans eligible under interest subsidy, premium rates shall be applicable as per the circulars issued by NRB.
  5. An additional risk premium up to 2% p.a. may be charged to Watch List accounts over the prevailing rate.
  6. An additional risk premium up to 2% shall be charged on the overdue amount and expired loan.

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