Commercial Banks Implement Interest Rate Adjustments Following NRB Directive Effective From Today

In response to the recent monetary policy review of the first quarter of the fiscal year 80/81 by the Nepal Rastra Bank (NRB), several commercial banks and development banks have disclosed adjustments to their interest rate structures. The decision, effective from today i.e. Poush 01, reflects a collective effort by financial institutions to align with the recommendations put forth by the central bank. As part of these adjustments, nearly all commercial banks have reduced their interest rates to single digits.

Among the notable adjustments, Nepal SBI Bank Limited (SBI) has implemented the highest reduction in its Fixed Deposit (FD) rates when compared to the rates of the previous month with a substantial decrease of 3.60% in the FD rates. The new rates for Individual FD now stand at 7%, while the rates for Institutional FD rates stand at 5%.

Contrary to the trend observed among other financial institutions, Prabhu Bank and Sanima Bank have chosen to keep their interest rates unchanged. The rates for Institutional FD at both banks remain at 7.00%, while the rates for Individual FD stand at 9.00%.