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

Mahalaxmi Bikas Bank Limited (MLBL) has recently made adjustments to its interest rate structure, effective as of today, the 28th 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 commercial banks and development banks such as Shangrila Development Bank Limited (SADBL) and Garima Bikas Bank Limited (GBBL), have already announced reductions in their interest rates.

Meanwhile, Mahalaxmi Bikas Bank has revised its Fixed Deposits (FD) rates, with Institutional FD now offering a rate of 6.5%, while Individual FD stands at 8.5%. This marks a significant reduction from the previous month's rates of 7.40% for Institutional FD and 9.40% for Individual FD, indicating a decrease of 0.90%.

Furthermore, the bank has also adjusted its general savings rates, which now range between 4.30% and 6.30%.

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