Commercial Banks Unveil Kartik Interest Rate Adjustments: SANIMA Raises Rates While CZBIL and HBL Implements Significant Cut

Commercial banks have released their revised interest rates for Kartik, effective from the first day of the month. The new rates reflect a mix of reductions and increases among various banks.

Out of the 20 banks, 10 have lowered their interest rates. Nine banks have retained the same rates as Ashwin, while one bank has raised its rate.

Citizens Bank International and Himalayan Bank have made the most significant reductions, each cutting their rates by 0.75 percent for individual fixed deposits. In contrast, Sanima Bank stands out as the only institution to increase its rate, raising it by 0.25 percent for individual fixed deposits.

For the month of Kartik, Machhapuchhre Bank offers the highest interest rate on individual fixed deposits, while Citizens Bank provides the lowest.