From Bhadra 1, commercial banks have announced new interest rates as required by regulation. According to the data from 14 commercial banks, 8 banks have reduced interest rates on personal fixed deposits, 5 banks have kept them unchanged, while 1 bank has increased the rate.
Banks reducing rates include Standard Chartered, Siddhartha, Nepal SBI, Sanima, Kumari, Everest, Krishi Bikas Bank, and Laxmi Sunrise. For Bhadra, Standard Chartered fixed 5.13%, Siddhartha 5.50%, Nepal SBI 5.25%, Sanima 6.75%, Kumari 5.21%, Everest 5.75%, Krishi Bikas Bank 5.20%, and Laxmi Sunrise 5%. All these rates are lower compared to Shrawan. Himalayan Bank is the only bank that raised its rate, increasing from 5.50% in Shrawan to 6% in Bhadra.
Banks keeping the same rates include Nepal Bank, Global IME, NIC Asia, NMB, and Prime Commercial. Their fixed deposit rates remain unchanged at 5.40%, 6%, 6.25%, 6%, and 6% respectively.
Meanwhile, most national-level development banks have continued the same interest rates as in Shrawan. Garima Development Bank (6.11%), Muktinath Bikas Bank (6.25%), Kamana Sewa Development Bank (6.15%), and Mahalaxmi Bikas Bank (6.11%) have all kept their deposit rates unchanged for Bhadra.
The overall trend shows a majority of banks opting to cut or maintain rates, with only one bank moving to increase returns for depositors.
