KATHMANDU, Sept 16: The trend of commercial banks lowering fixed deposit interest rates has continued, with nine banks reducing their maximum rates for the month of Ashwin (mid-September-mid-October). Another nine banks have kept their rates unchanged compared to Bhadra.
Standard Chartered Bank and Laxmi Sunrise Bank, however, raised their maximum deposit rates this month.
Revised interest rate corridor system introduced
Banks that reduced rates include Citizen, Sanima, NIC Asia, Everest, Nepal SBI, Kumari, Nepal Bank, Prime, and Agriculture Development Bank. The reductions ranged between 0.15 to 0.50 percentage points. For instance, Sanima and Everest lowered their rates by 0.50 points each, while Citizen and NIC Asia reduced by 0.25 points.
Meanwhile, Nabil, Machhapuchchhre, Himalayan, NMB, Global IME, Siddhartha, Prabhu and Rastriya Banijya Bank have kept their rates steady.
