Machhapuchchhre Bank updates interest rates; Increases rates for long-term fixed deposits

Machhapuchchhre Bank Limited has updated its interest rates that'll be effective from Kartik 1.

The interest on savings has remained the same. MBL provides interest in the range of 3% to 5% for savings products. Meanwhile, it has increased the interest rates for fixed deposits. While fixed deposits from individuals got interest payments in the range of 7.25% to 8.25%, they will now get in the range of 7.25% and 9.75%. This is because MBL has increased the interest rates for fixed deposits with a longer maturity period.

For institutions, the interest range for fixed deposits has increased to (6.5-10.25)% from the previous (6.5-7)%. This is also because the bank has increased the interest rates for fixed deposits with a longer maturity period.

Since the month of Ashwin isn't over yet, the base rate is still maintained as of Bhadra end, i.e. 8.42%. Loan against shares will be provided at up to a 5% higher interest rate than the base rate.

Announcement