Rastriya Banijya Bank updates interest rates on deposit

Rastriya Banijya Bank has updated its interest rates of deposit products again.

Savings in Rastriya Banijya Bank will generate interest rates from 3% to 5% depending on the deposit product. Meanwhile, individuals will get interest payments anywhere from 6% to 6.5% for fixed deposits depending on the maturity period. For the same fixed deposit products, institutions will get anywhere from 5% to 6.5% interest.

Those who have their fixed deposit period matured during lockdown can renew it via phone call, email, or fax to the bank.

Interestingly, the previous interest rate update of Rastriya Banijya Bank lasted only two days. Banks can change their interest rates profile depending on the supply and demand of capital in the market. Thus, the change can sometimes happen in a day or two.