Five commercial banks have announced new interest rates. Bank of Kathmandu, Global IME Bank, Everest Bank, Prime Commercial and Nepal Credit and Commerce (NCC) Bank have published new interest rates with effect from Tuesday.

Also on Monday, Laxmi and Sunrise Bank had announced new interest rates.

After the Nepal Rastra Bank (NRB) asked to reduce the interest rate on loans, most of the banks have recently started reducing the interest rate on savings accounts.

Everest Bank

Everest Bank (EBL) has announced a new interest rate with effect from July 20. According to the new interest rate announced by the bank, the interest rate on savings accounts will be 3.50 percent to 5 percent.

The bank has stated that it will pay 3.50 percent interest on 16 types of savings accounts and 5 percent interest on 8 types of savings accounts.

Similarly, the bank will offer 6.50 to 7.25 percent interest on ordinary term deposits and 5.50 to 6.50 percent on institutional deposits.

The bank will offer 6.50 per cent interest on three-month deposits to individuals, 7 per cent for a period of six months to one year and 7.25 per cent for a period of more than one year.

The bank has stated that it will provide interest rate of 5.50 percent for term deposits of 3 months to 6 months, 6 percent for a period of 6 months to 1 year and 6.50 percent for a period of more than 1 year.

The bank will pay 6.50 percent interest on institutional bulk fixed deposits and special fixed deposits. Similarly, 1 to 2 percent interest will be paid on dollar accounts. Similarly, EBL will pay 7.25 percent interest on plans and 2 percent interest on call deposits.

On the loan side, the bank has stated that the loan will be disbursed at a minimum interest rate of 1.25 percent to a maximum of 5 percent. Corporate, small and medium loans and others will get a minimum premium increase of 1.25 percent to 5 percent depending on the rating.

The bank said it would charge 0.75 per cent for risk of fluctuations in interest rates and 1.50 per cent for a period of three to five years. The bank's base interest rate was 8.05 percent and spread rate was 3.59 percent in mid-July.

Global IME Bank

Global IME Bank (GBIME) has changed the interest rate of the loan with effect from July 20. According to the bank, loans for small and medium enterprises will be invested by adding 5 percent premium to the base interest rate.

Bank overdraft, trout receipt. Packing credit. Quas credit. STS, Fixed Term Loan. Project loan. The interest rate will be applicable on bank guarantee loans as well as auto loans and equity loans.

The bank has stated that it will provide loan at 2 percent at the base interest rate on global agricultural loan up to Rs 1.5 million. The bank has stated that the interest rate will be increased by 2 percent if the loan is included in the list instead of being recovered.

The bank's base interest rate stood at 8.42 percent in mid-July.

Bank of Kathmandu

Bank of Kathmandu (BOKL) has changed the interest rate on term deposits with effect from Tuesday. The bank will offer interest rates of 5.25 to 7.25 percent on personal term deposits. The bank will offer interest rates of 5.25 per cent on three-month deposits, 6.25 per cent for a period of six months to one year and 7.25 per cent for a period of more than one year.

Only 4.50 to 6.50 percent interest will be provided on institutional term deposits. The bank will offer 4.50 per cent interest on term deposits of 3 months to 6 months, 5.50 per cent for a period of 6 months to 1 year and 6.50 per cent for a period of more than one year.

Similarly, the institutions currently keeping savings in term deposits in the bank have stated that if they want to renew term deposits in Bank of Kathmandu again, an additional 0.10 percent interest rate will be provided on the above fixed interest rate.

Similarly, the bank will pay the same 6 percent interest on recurring deposit for a period of 2 to 10 years and recurring deposit for a period of 1 to 10 years.

Prime Commercial Bank

Prime Commercial Bank (PCBL) has also revised the interest rate on domestic deposits with effect from today.

According to the new interest rate of the bank, the same interest rate of 5 percent will be provided in 7 savings accounts. Among them, 5 percent interest will be paid on Prime Senior Citizen Savings Account, Staff Savings, Prime Gold Advantage, Prime Secure Savings Account, Prime General Pay Roll Account, Prime Super Max Savings Account and Prime Nari Savings Account.

The bank has stated that it will pay 3 percent interest rate on all the savings accounts except these seven accounts.

NCC Bank

NCCB has also changed the interest rate of term deposit with effect from July 20.

According to the bank, savers who have time deposits with the bank will get a maximum interest rate of 8.25 percent. Institutional savers will get 7.10 percent interest by adding 0.10 percent if they want to renew their term savings.

The bank has stated that term savings can be kept in the bank for 3 months to 5 years.