Nepalese commercial banks have lowered interest rates on both personal and institutional fixed deposits for the month of Falgun, effective from Falgun 1. The average maximum interest rate on personal fixed deposits, which stood at 4.6845% in Magh, has decreased by 0.1155 percentage points to 4.569% in Falgun. For institutional fixed deposits, the maximum average rate declined by 0.0515 percentage points.
For Falgun, nine commercial banks have reduced interest rates on personal fixed deposits. Among them, Global IME Bank cut its rate the most by 0.75 percentage points, bringing its maximum rate down from 5.5% in Magh to 4.75% in Falgun.
Meanwhile, 11 banks have maintained the same rates as in Magh. These include Nepal Bank, Himalayan Bank, Rastriya Banijya Bank, NIC Asia Bank, NMB Bank, Prabhu Bank, Nabil Bank, Machhapuchhre Bank, Citizens Bank International, Laxmi Sunrise Bank, and Kumari Bank. Nepal Bank offers the highest personal fixed deposit interest rate at 5.1%, while the lowest rates of 4.25% are provided by Standard Chartered Bank Nepal, Agricultural Development Bank, Prime Commercial Bank, Nepal SBI Bank, Everest Bank, and Siddhartha Bank.
For institutional fixed deposits, the maximum interest rate is set at 4%, which will be offered by Himalayan Bank, Rastriya Banijya Bank, NIC Asia Bank, and NMB Bank.
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