Interest Rates Falling: Machhapuchchhre Bank Updates Interest Rates for Deposits

Machhapuchchhre Bank Limited (MBL) has updated the interest rates profile. The update will be effective from Mangsir 01, i.e. November 16.

The bank will now provide interest in the range of 2.5% to 4.5% for savings. It previously provided interest in the range of 3% to 5% for deposit schemes.

Meanwhile, individuals who put their money in fixed deposits will get interest payments in the range of 7.25% to 8.5% depending on the period of maturity. Institutions will get anywhere from 5% to 7% for fixed deposits. It seems that the interest rate for fixed deposits has always declined. Individuals previously got interest payments in the range of 7.25-9.75% and institutions got in the range of 6.5-10.25% for fixed deposits.

The base rate as of Ashwin's end is 8.31%. The base rate was 8.42% as of Bhadra's end.

Interest Rates Update