Kathmandu. Banks and financial institutions have started announcing new interest rates. Banks will pay a minimum of 2 percent and a maximum of 5 percent interest on savings deposits. The maximum interest rate on time deposits will be up to 8 percent. Similarly, banks have published interest rates by adding premium up to 5 percent to the base rate. Some banks have reduced interest rates for the month of February, some have kept them stable and some have also reduced interest rates.

Nepal Credit and Commerce Bank will pay interest on savings from 3 percent to a maximum of 5 percent. According to the interest rate schedule made public by the bank, it is going to give 3 percent interest in 6 types of savings accounts and 5 percent interest in 5 types of savings accounts. Similarly, the bank will offer 6 to 7 percent interest on time deposits. The bank is going to pay 6 percent interest on 6-month term savings, 6.5 percent on 1-year term accounts and up to 7 percent on term savings over 1 year.

NCC Bank is going to disburse loans by adding base rate at 5 percent premium on overdraft, cash credit, tram loan and short tram demand loan. The bank has fixed the interest rate on fixed interest rate NCC Home Loan at 9.35 to 10 percent per annum. The interest rate has been fixed at 9.99 percent for commercial hire purchase, 9.25 percent for personal car loan and 9 to 10 percent for various loans. The bank's base rate for the month of December is 7.94 percent.

Everest Bank has set interest rates on savings ranging from 2 percent to 4 percent and personal term deposits from 4.75 percent to 6.75 percent depending on the time period. Similarly, the bank has decided to pay 5 to 7 percent interest on institutional term deposits. According to the interest rate schedule made public by the bank, the fixed interest rate has been fixed from 10.52 percent to 12.52 percent depending on the loan repayment period. The bank is preparing to charge up to 13.02 percent interest on loans above 10 years.

The state-owned Rastriya Banijya Bank will pay 2.5 percent interest rate on general savings and 4 percent interest rate on other savings. The interest on term deposits will be from 5.5 percent to 7 percent. Similarly, the bank will increase the premium on various loans by increasing the premium from A to 3.25 percent. The bank's base rate for Pusamanta is 5.61 percent.

Nepal Bangladesh Bank has also given continuity to savings and term interest. The bank has set interest rates at 2.75 to 4 percent for savings and a minimum of 6 percent to a maximum of 7.75 percent for maturity. The bank is going to provide loan by adding premium of 4 to 5 percent to the base rate. The bank has fixed the interest rate of the loan according to the loan period. Borrowers who want to take a pick-up loan from a bank have to pay interest rates ranging from 9.99 percent to 12.99 percent.

Standard Chartered Bank Nepal has decided to give interest rate of 2 percent to 4 percent on savings. The bank has fixed interest rates on time deposits at 4.5 percent to 6 percent. The maximum term interest rate for the general public has been kept unchanged at 6 percent. On the interest rate of the loan, the bank is going to give loan by adding premium of 2.5 percent to 4 percent in the base rate.

Another government-owned bank, Nepal Bank Limited, has kept the minimum rate of savings account at 2.5 percent and the maximum rate at 4 percent. The bank has kept a maximum of seven percent in term deposits. The Agriculture Development Bank has set the interest rate at 3.5 to 5 percent on savings and 7 percent on maturity. Earlier, the maximum interest rate was 7.25 percent. In February, the bank has changed the interest rate on term deposits.

Sunrise Bank has kept the interest rate on savings at 2 to 3.5 percent and kept the maximum interest rate for the public at 7 percent. Prabhu Bank is offering 2 to 4 percent interest on savings and 4 and a half to 7.50 percent interest on time deposits. The bank is preparing to disburse the loan by paying a premium of up to 4 percent on the base rate. Nepal Air Bank has increased the minimum interest rate on savings from 1.5 percent to 2 percent. The maximum interest rate is three percent. It has fixed maximum interest rate of seven percent on time deposits given to the public.

Bank of Kathmandu (BOK) has decided to pay 2 to 3.5 percent interest on the savings while maintaining a maximum of 7 percent on maturity. NMB Bank has maintained a minimum interest rate of 3.1 percent and a maximum interest rate of 5.1 percent. The bank has continued the old interest rate on time. The bank has decided to pay interest of up to 8 percent on time deposits. Lakshmi Bank has also maintained 2 to 4 percent interest on savings and fixed it at 7 percent on time.

Similarly, Siddhartha Bank has fixed the maximum interest rate at 7 percent for the term by working 2 to 4 percent interest on savings. Civil Bank has reduced the savings rate from 2.5 percent to 2.51 percent. The interest rate on time deposits has been reduced from 8 percent to a maximum of 7.51 percent. Century Commercial Bank has raised interest rates on savings. The bank has increased the interest rate on savings from 2.5 percent to 2.75 percent and 4.5 percent to 4.75 percent. The bank has continued to charge 7.5 percent interest on time deposits.