Sanima Bank Limited updates interest rates; Base Rate declines

Sanima Bank Limited has updated the interest rates for its deposit and loan product. The update is effective from 1st Ashwin, 2077.

Previously, individuals got interest payments in the range of 6.75% to 7.25% for fixed deposits. Now, they will get in the range of 6.75% to 7.77%.

Meanwhile, for institutions, the interest rate range for fixed deposits is the same, i.e. 6.5% to 6.6%.

Now, investors can take margin loans in the interest rate that is up to 5% higher than the base rate of 8.07%. Previously, they could take margin loans in the interest rate that was up to 5% higher than the base rate of 8.62%. The interest rate spread has increased to 4.39% from the previous 3.47%.

However, the interest rates for savings haven't changed from last time.

Click here to view the announcement.