NIC Asia Bank has announced new interest rates for Ashoj. The bank has reduced the rates for both personal and institutional fixed deposits.
For personal deposits, the maximum interest rate is now set at 6%. In Bhadra, the maximum rate was slightly higher at 6.258%.
Personal fixed deposit rates for Ashoj
| Term | Interest rate |
|---|---|
| 3 months | 2.75% |
| 3 – 6 months | 3% |
| 6 – 9 months | 3.25% |
| 9 – 12 months | 3.50% |
| 12 months | 4% |
| 12 – 18 months | 4.50% |
| 18 – 24 months | 4.75% |
| 24 – 36 months | 5% |
| 36 – 60 months | 5.50% |
| 60 months and above | 6% |
The bank has also lowered the interest rates for institutional deposits. In Bhadra, institutions were offered a maximum of 5.25%. Now, the maximum has been reduced to 5%.
Institutional fixed deposit rates for Ashoj
| Term | Interest rate |
|---|---|
| 6 – 12 months | 2.75% |
| 1 year | 2.75% |
| 12 – 18 months | 3% |
| 18 – 24 months | 3.25% |
| 24 – 36 months | 3.75% |
| 36 – 60 months | 4% |
| 60 months and above | 5.50% |
This means depositors will receive slightly lower returns compared to last month, but longer-term deposits still provide better rates.
