Nepal SBI Bank updates interest rate on call deposit; Reduced rate for amount upto 15 crores

Nepal SBI Bank Limited has updated its interest rates on call deposits.

Now, deposits of up to Rs. 15 crores will only 1.5% interest. Any amount higher than Rs. 15 crores will get interest payments in the range of 0.5% to 1.5%.

Previously, call deposits of up to Rs. 10 crores got 2% interest while the call deposits from Rs. 10 crores to Rs. 15 crores got 1.5%. Any amount higher than Rs. 15 crores got interest payments in the range of 0.5% to 1.5%.

The amended unified directive for banks and financial institutions recently published by Nepal Rastra Bank has reduced the interest rate for call deposits.

As of now, the minimum interest rate for savings was set as the interest rate for call deposits. However, the new unified directive has now set the call deposit interest rate as 50% of the minimum rate on savings.