Kathmandu. Commercial banks have established new interest rates. Banks have determined the interest rate to be maintained for the month of August. Compared to July, some banks have reduced the interest rate, while some banks have increased it. However, some banks have continued the interest rate of July.

In the coming August, banks will provide maximum interest rate up to 10.896 percent for individuals. On the institutional side, 8.896 percent interest will be given. However, Nepal Investment Mega Bank is not included as it is not available.

According to the published new interest rates, Nabil Bank, Himalayan Bank and Nepal SBI Bank have continued the interest rates of July. In August, Nabil has fixed interest rates of 7.99 percent to 8.49 percent for institutional and 9.49 percent to 10.49 percent for individuals on term deposits.

Similarly, Himalayan Bank and Nepal SBI have also maintained interest rates of 7.99 percent on the institutional side and 9.99 percent on the personal side in August. Nepal Investment Mega Bank has 9.99 percent on the individual side and 7.99 percent on the institutional side.

Compared to the month of July, NMB Bank, NIC Asia, Prime Bank, Standard Chartered Bank have reduced interest rates in August. In August, NMB Bank will provide 7.99 percent interest rate for institutional and 9.99 percent interest rate for individuals. Similarly, NICE Bank has set interest rates of 8.896 percent for institutions and 10.896 percent for individuals, 8.5 percent for institutions and 10.5 percent for individuals of Prime Bank and 6.92 percent for individuals and 8.92 percent for institutions.

Global IME, Everest, Prabhu, Siddharth, Citizen Bank, Kumari, Sanima, Lakshmi Sunrise, Krishi Bikas, National Commercial Bank, Machhapuchhre and Nepal Bank have increased interest rates. For the month of August, Global IME gave 8.896 percent for institutional and 10.896 percent for personal, Everest 8 percent for institutional and 10 percent for personal, Prabhu Everest Bank 8 percent for same institutional and 10 percent for personal, Siddharth 7.99 percent and 9.99 percent for personal. Citizen has set interest rate of 8.896 percent for institutional and 10.896 percent for individual.

Similarly, Kumari, Sanima, Krishi Bikas and Nepal Bank will provide 8.896 percent interest for similar institutions and 10.896 percent interest for individuals. Similarly, Machhapuchhre and Rashtriya Commercial Bank have mentioned that they will provide 7.99 percent interest for institutions and 9.99 percent for individuals and 7.99 percent for institutions and 10.4 percent for individuals of Laxmi Sunrise Bank.