Kathmandu. As the new fiscal year approaches, seven commercial banks have announced new interest rates.

Global IME, Everest, Bank of Kathmandu, Prime, Sunrise, NCC and Laxmi Bank are among the banks that will announce interest rates in the new fiscal year.

Some banks have reported reduced interest rates. According to the latest published interest rates, Prime Bank has the highest interest rate on deposits.

Prime has published a notice to pay interest up to 5.5 percent on savings accounts. It is mentioned in the notice that interest up to 8.25 percent will be given on time deposit. The bank has mentioned that the interest rate will be fixed by adding premium from 4 to 6 percent to the base rate. The base rate of Prime Bank is 9.85.

NCC Bank has announced a 5 percent interest rate on all types of savings deposits. NCC Bank has informed that interest will be paid up to 8.25 percent on time deposit account.

When taking a loan from NCC Bank, you have to pay interest by adding a premium of 2 to 5 percent to the base rate. Its base rate is 10.36 percent.

Lakshmi Bank is offering 4 to 4.5 percent interest on savings accounts. Similarly, interest on term deposits will be 7.25 to 7.75 percent. Lakshmi Bank has informed that the interest on the loan will be charged by adding 2 to 5 percent premium to the base rate. The base rate of the bank is 9.23 percent.

Sunrise Bank has announced new interest rates on savings ranging from 2.5 percent to 4 percent. It is mentioned in the notice that interest up to 7.5 percent will be given on time deposit. If you take a loan from that bank, you have to pay a premium of 5 percent at the base rate. Sunrise Bank has a base rate of 8.95 percent.

Bank of Kathmandu has published a notice to pay 3 to 4.5 percent interest on savings accounts. Up to 7.25 percent interest will be paid on time deposit. When taking a loan from that bank, you have to pay additional premium up to 5 percent. Bank of Kathmandu's base rate is currently 8.91 percent.

Everest Bank will offer interest rates ranging from 3.5 percent to 5 percent on savings accounts. The bank will pay interest of up to 6.5 percent on time deposits. If you take a loan from Everest Bank, you have to pay up to 5 percent premium on the base rate. Everest Bank's current base rate is 7.95 percent.

Global IME Bank has announced a 3 to 5 percent interest rate on savings deposits. Similarly, the bank has informed that it will give up to 7.75 percent in term deposit. If you take a loan from Global IME Bank, you have to pay a premium of 1 to 5 percent on the base rate. At present, the base rate of the bank is 9.41 percent.