Commercial Banks Update Interest Rates for Shrawan; What Has Changed?

Commercial Banks have updated their interest rates profile for the month of Shrawan. The update will be effective from tomorrow, i.e. Shrawan 01.

The interest rates on savings have not changed for Rastriya Banijya Bank. The bank will give annual interest payments in the range of 3-5% on savings, which is also the interest rates range for Nepal Credit and Commerce Bank, with the most savings products generating interest payments in the upper limit of that range. Fixed deposits will yield 7-8% for individuals and 7.5-8% for institutions at NCCB. This range hasn't changed from last time.

Similarly, the normal savings account will only yield 2.5% at Standard Chartered Bank. This figure hasn't changed from last month. Individual fixed depositors will yield in the range of 4.5-7%, and the base rate of the commercial bank as of Chaitra last year is 5.33%.

NMB Bank Limited will give interest payment in the range of 2.5-4.5 p.a in Shrawan. This is a decrement, given that the range was 3.6-5.6% in the previous month. Individuals will get interest payments in the range of 6.5-7.5 p.a. on fixed deposits.

Machhapuchchhre Bank Limited will now pay 2.05-4% on savings compared to Ashar's rate range of 3.1-4%. Most savings schemes will yield the lower limit of the range, i.e. 2.05%, which is down from last month's rate of 3.1%. Individual fixed depositors will yield 7.05%, compared to last month's range of 7.51%. The industry giant Nabil Bank itself has brought down its interest rate profile. Savings schemes will now yield 1.51-3.51%. This range was 2.51-4.51% for Ashar.

This article performed data sampling on a randomly selected list of commercial banks, and data shows that commercial banks have once again brought their interest rates down. The individual interest rate updates of the commercial banks can be found on the company profile of each commercial bank on our portal.