Banks Update Interest Rates; What Has Changed?
Thu, Feb 11, 2021 12:28 PM on Latest, Interest Rates,
Sunrise Bank Limited (SRBL) has updated its interest rates profile for the month of Falgun. The interest rate on savings is maintained the same, i.e. in the range of 2-3.5%.
The rates have not changed for fixed deposits either. Individual savers will get a flat 7% interest rate on all fixed deposits with a maturity period of 3 months or higher. Meanwhile, institutions will get a 6.6% annual interest payment for fixed deposits with a maturity period of 3 months to a year. Institutions will get 7% on fixed deposits with maturity periods longer than that.
The base rate maintained as of Poush is 7.29%, compared to 7.24% maintained as of Mangsir. Loan against shares is provided at up to 6% higher than the base rate. For the month of Falgun, SRBL will use the base rate as of Poush.
Machhapuchchhre Bank Limited (MBL) has also updated its interest rates profile for the month of Falgun. The interest rate on savings is maintained the same, i.e. in the range of 2-4%.
The rates have not changed for fixed deposits for individuals either. Individual savers will get a flat 7% interest rate on all fixed deposits with a maturity period of 3 months or higher. Meanwhile, institutions will now get a 6.5% interest payment on fixed deposits with a maturity period of 3 months to a year, compared to the 7% provided previously. Institutions will get 7% on fixed deposits with maturity periods longer than that.
Similarly, Garima Bikas Bank Limited (GBBL) has also updated its interest rates profile for the month of Falgun. While the previous rate on savings schemes was in the range of 3.5 - 5%, the range now is 3.5-5.5%, with the addition of a scheme called Mero Share Bachat Khata.
Individuals previously got interest payments in the range of 7% to 8.5% for fixed deposits. Now, they will be paid in the range of 6.75% to 8.5% p.a. Meanwhile, institutions will get interest payments in the range of 5.5-8%.
The base rate maintained as of Poush is 8.38%, compared to 9.12% maintained as of Ashwin.
