The Interest Rates Of Banks and Financial Institutions For The Month Of Ashad Remains Unchanged
Tue, Jun 14, 2022 2:53 PM on Latest, Interest Rates,
Commercial banks have kept their interest rate profile unchanged in Ashad. The maximum interest rate on fixed deposits provided by commercial banks is 11.03%. The tenure for such fixed deposits is above three months or above six months, depending upon the banks.
Most banks had interest rates of 11.03% for tenure above three months. However, for Standard Chartered and Nepal SBI Bank, the interest rates on fixed deposits were fixed according to the time frame. For standard chartered, the interest rate was 10.3% for periods of less than three months and 11.03% for periods higher than three months. Likewise, Nepal SBI had fixed its rates as; 6.6% above three months, 8.8% above six months, 11.03% above one year, and 9.95% above two years.
Most commercial banks provide a 6.03% interest rate p.a. for depositors on savings.
In contrast, institutions were offered a maximum of 10.03% on fixed deposits.
Since Chaitra, commercial banks had constant deposit interest rates. Individual deposits receive a maximum interest rate of 11.03 percent, while institutional deposits receive a maximum interest rate of 10.03 percent. Senders of remittances are given an interest rate of 12.03 percent.
Likewise, development banks, have also not raised the interest rates on deposits. The highest interest rate for individuals on fixed deposits is 12% and this rate for institutional depositors remains at 11%.
Similarly, most of the development banks interest rates on savings accounts for the month of Ashad is 7%.
Finance Companies interest rates on deposits also remain constant. The highest interest rate for individuals on fixed deposits is 12.25% and the rate for institutional depositors is 11.25%.
For savings accounts, each finance company has a varied range of interest rates. While the average rate of interest on savings accounts for most finance institutions for the month of Ashad is 8% p.a., few companies are also offering greater interest rates up to 9%.
