NRB New circular :Banks not to increase 0.50 % interest rate on FD

May Thu 2020 10:19:28

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NRB New circular :Banks not to increase 0.50 % interest rate on FD

Nepal Rastra Bank has curtailed the right of banks and financial institutions to increase interest rates on deposits. NRB amends Unified Guideline 2076. Bank will not be allowed to fix higher interest rate on call deposit and institutional term deposit than the minimum set by NRB. Banks will be able to raise interest rates on personal and savings deposits up to 0.5 percent of the minimum interest rate.