NIC Asia Bank publishes new interest rates; Reduced Interest Rates for Saving and Fixed Deposits
Sun, Aug 16, 2020 2:30 PM on Latest, Interest Rates,
NIC Asia Bank Limited has issued new interest rates effective from today, i.e. 32 Shrawan 2077 (16th August 2020).
Depositors will now get either 2% or 4% interest for their savings based on the deposit product. Most of the deposit schemes have a 2% interest rate p.a.
In contrast, in the previous interest rates profile that was effective from 18th Ashad, most deposit schemes of NIC Asia Bank provided a 2.5% interest rate.
For individuals, fixed deposits of up to 1 year will get 7.25% interest. Fixed deposits of 1 to 2 years will get 7.5% and any fixed deposits for a period higher than 2 years will get 7.75% interest payment p.a.
The rates for the respective fixed deposits mentioned above are 6.5%, 7%, and 7.5% for institutions.
In the previous interest rate profile effective from 18th Ashad, NIC Asia Bank was giving a common 8.25% interest for fixed deposit of all time periods for the general public.
Meanwhile, loans against shares will now be provided at up to a 5% interest rate.
The base rate is maintained at 7.7% while the interest spread is maintained at 4.39%.
