NIC Asia Bank (NICA) updates interest rate profile: What has changed?

NIC Asia Bank Limited (NICA) has unveiled the update in its interest rates profile. The update is effective from Poush 1st.

Previously, the bank gave interest in the range of 1.5% to 3.5% for various savings schemes. This hasn't changed in the new update. Depositors will still get interest payments for savings in the same range.

Meanwhile, the interest payment for fixed deposits has changed. The bank previously gave FD interest payment in the range of 7.25% to 9.75% for individuals. Institutions got FD interest payments in the range of 7% to 9.5%. Now, all the entities will get a 6.5% interest payment for all FDs with a maturity period of three months and higher.

NIC Asia Bank uses an unchanged base rate of 6.5%. Loans against shares will be provided at up to 7% higher than the base rate.

Announcement