Commercial Banks Decides to Maintain the Same Deposit Interest Rate During the Month of Poush as Well

Commercial banks will maintain the same deposit interest rate during the month of Poush as well.

The Bankers' Association meeting on Tuesday morning decided that there is no need to raise or lower interest rates because the economic indicators are stable, according to Sunil KC, vice president of the Bankers' Association.

Prior to Bhadra, the interest rate on individual term deposits was 11.03 percent, on institutional term deposits it was 9.03 percent, and on savings, it ranged from a minimum of 6.03 to a maximum of 8.03 to 9.03 percent.

Banks in Ashoj maintained interest rates on term deposits at 12.133 percent for individuals, 10.133 percent for institutions, and 13.133 percent for remittances. Some banks have offered remittance interest rates as high as 15%. The same interest rates has been fixed for this month as well. 

The finance minister's committee, which was established to lower interest rates, has advocated letting the market set interest rates. Despite the committee's lack of recommendations for an urgent interest rate reduction, bankers have decided to maintain the current rate. As per reports, the banks have not discussed reducing the interest rate as the liquidity has not yet reached a comfortable level with the banks.