Kathmandu. Commercial banks have announced new interest rates for July. Out of the 20 banks, six have reduced the interest rates while 14 banks have continued the interest rates for the month of July.
The average interest rate of deposits has decreased in July compared to June.
The average maximum interest rate on personal deposits of banks has come down to 4.1675 percent from 4.258 percent in mid-July. Similarly, the average rate of institutional deposits has also decreased to 3.116 percent from 3.18 percent in mid-July.
For mid-July, Rastriya Banijya Bank (RBB) has reduced the interest rate by 0.75 percent for individuals and one percentage point for institutional segments. Global IME Bank has reduced the interest rate on individuals by 0.5 percentage points to 4 percent.
Similarly, NMB Bank reduced the interest rate by 0.25 percent, Citizens Bank International by 0.15 percent, Standard Chartered by 0.1 percent and Kumari Bank by 0.06 percent.
In the review period, Nepal Bank (NBBL) has kept the personal interest rate constant (4.25 percent) but increased the institutional deposit rate by 1 percent to 4 percent.
As many as 13 banks including Nabil Bank, Prabhu Bank, Nepal Investment Mega Bank, Sanima Bank, Machhapuchchhre Bank have extended their interest rates for the month of July.
In the review period, Nepal Bank (NBBL) kept the personal interest rate unchanged (4.25 percent) but increased the institutional deposit rate by 1 percentage point to 4 percent.
