Nepal Infrastructure Bank (NIFRA) Updates Interest Rates Profile; Presents Attractive Rates on Fixed Deposits
Wed, Apr 21, 2021 11:23 AM on Latest, Interest Rates,
Nepal Infrastructure Bank Limited (NIFRA) has updated a new interest rate profile for deposit and loan products. The update is effective from 8th Baisakh, 2078, i.e. 21st April 2021.
Individuals will get a 7.25% annual interest payment on all fixed deposits with a maturity period of five years or longer. Rs. 10,000 is the minimum seed amount that has to be deposited by an individual for fixed deposits. Meanwhile, institutions will get a 6.5% annual interest payment for fixed deposits with a maturity period from five years to ten years. Deposits with a maturity period longer than 10 years will yield 6.6% annual interest for institutions.
On the other side of things, project loans can be taken from the bank at interest rates from 9% to 11%. A lending scheme called the Bridge Gap Loan can be taken at interest rates from 10% to 11.5%. Foreign currency loans will be tied up with LIBOR and decided on a deal basis.
