Mega Bank, NMB Bank, and NCC Bank update interest rates effective from today; Mega reduces interest rate on Fixed Deposits

Mega Bank, NMB Bank, and NCC Bank have all updated new interest rates effective from today, i.e. Bhadra 10, 2077.

According to the updated interest rates profile, Mega Bank is providing interest ranging from 5.5% to 7.25% for fixed deposits for individuals. This range was from 7.25% to 8.25% in the interest rates updated on Bhadra 1. It is providing interest ranging from 5.5% to 6.5% for institutions depending on the period of maturity. In contrast, Mega Bank provided a constant 6.5% in the last interest rates profile. 

Meanwhile, Nepal Credit & Commerce Bank Limited (NCCB) gives 7.25% interest to individuals for fixed deposits of a year and 8.25% for 2 years. It gives 6.5% and 7% interest in the respective schemes to institutions. The previous interest rates profile effective from Bhadra 1 had given interest for fixed deposits from 5% to 8.25% for individuals and from 4.5% to 7% for institutions. 

NMB Bank provides interest from 3% to 5% p.a. depending on the savings scheme. While it provides interest rate in the range of 5.5% to 8.25% for fixed deposit to individuals, institutions will get 7%. This hasn't changed since last time. Furthermore, margin loans can be taken at a 3% to 5% higher interest rate than NMB Bank's base rate.