Interest Rates on Fixed Deposits Going Down as Banks Update Interest Rates for Magh
Tue, Jan 12, 2021 11:33 AM on Interest Rates, Latest,
Nepal SBI Bank (SBI) has unveiled its new interest rates profile. The update is effective from Magh 01.
The bank now provides interest payments in the range of 0.25% to 3.16% p.a. for deposit products. Nonetheless, most savings schemes will generate either 1.5% or 3% as interest. It previously provided in the range of 1% to 3.16% for savings.
Meanwhile, institutions and individuals will get interest payments in the range of 3% to 6.5% on fixed deposits. Individuals previously got in the range of 3% to 6.5% and institutions in the range of 4% to 6%.
The bank has reported a fall in its base rate from the previous 8.37% to 7.93% on Mangsir. This has simultaneously taken the interest rates on margin lending down, which can get as high as 5% higher than the base rate. The interest rate spread maintained on Mangsir is 3.82%.
Century Commercial Bank Limited (CCBL) has unveiled its new interest rates profile. The update is effective from Magh 01.
The bank now provides interest payments in the range of 2.5% to 4.5% p.a. for deposit products. This hasn't changed from last time. Nonetheless, most savings schemes will generate 3.5% as interest.
Meanwhile, individuals will get interest payments in the range of 7% to 7.5% on fixed deposits. Institutions will get in the range of 5.5% to 6.5%. While the range was the same for institutions previously, individuals previously got in the range of 7% to 8%.
The bank has reported a rise in its base rate on Mangsir from the previous 8.43% to 8.47%. While margin lending rates could go up to 4% higher than the base rate previously, the rates can go as high as 5% higher than the base rate now.
Civil Bank Limited (CBL) has unveiled its new interest rates profile. The update is effective from Magh 01.
The bank now provides interest payments in the range of 3% to 5% p.a. for deposit products. This hasn't changed from last time. Nonetheless, most savings schemes will generate 3% as interest.
Meanwhile, individuals will get interest payments in the range of 5.5% to 8% on fixed deposits. Institutions will get in the range of 5.1% to 6.6%. While the range was the same for institutions previously, individuals previously got in the range of 7% to 9%.
The bank has reported a fall in its base rate from the previous 8.94% to 8.88% on Mangsir. This has simultaneously taken the interest rates on margin lending down, which can get as high as 5% higher than the base rate. The interest rate spread maintained on Mangsir is 3.26%.
