Machhapuchchhre Bank Limited Implements Interest Rate Adjustments in Response to NRB's Monetary Policy

Machhapuchchhre Bank Limited (MBL) has recently made adjustments to its interest rate structure, effective as of today, the 26th of Mangsir, 2080. The decision follows the monetary policy review of the first quarter of the fiscal year 80/81 by the Nepal Rastra Bank (NRB), wherein a deduction in bank rates was recommended.

In light of this, several banks such as NIC Asia Bank (NICA), NMB Bank (NMB), and Kumari Bank (KBL), have already announced reductions in their interest rates. With Machhapuchchhre Bank joining this initiative, a total of four banks are now poised to reduce their rates.

Specifically, Machhapuchchhre Bank has revised its interest rates for Fixed Deposits (FD). The new rates now stand at 7.60% for Institutional FD and 9.60% for Individual FD. This represents a notable reduction from the previous month's rates of 8.60% for Institutional FD and 10.60% for Individual FD, reflecting a decrease of 1%.

Furthermore, the bank has also adjusted its general savings rates, which now range between 4.60% and 6.60%.