Commercial Banks Have Agreed Not To Raise Interest Rates On Deposits

Even in Ashad, commercial banks have decided to keep deposit interest rates constant.

Since Magh, commercial banks have not hiked deposit interest rates. Individual deposits receives a maximum interest rate of 11.03 percent, while institutional deposits receives a maximum interest rate of 10.03 percent. Senders of remittances are given an interest rate of 12.03 percent.

Commercial banks have agreed to maintain a constant interest rate in the expectation of increased deposits as Ashad's expenses rise, and the right decision regarding the interest rates will be taken only once the national monetary policy is finalized.

The CEOs of commercial banks have agreed to keep the interest rate unchanged even in Ashad, according to Anil Kumar Upadhyay, president of the Nepal Bankers' Association. "The union's working committee will make an official resolution tomorrow to maintain the interest rate stable and to keep the interest rate constant even in Shrawan," he said.