Why the bank's Interest Rate has declined ? How much New Interest Rate of commercial bank of Nepal

Oct Thu 2021 10:41:06

429 views

Why the bank's Interest Rate has declined ? How much New Interest Rate of commercial bank of Nepal

Kathmandu. Commercial banks have announced new interest rates following the directive of Nepal Rastra Bank. There are 13 banks that set interest rates between 9 and 10 percent. Similarly, there are 12 banks setting interest rates from 8 to 8.99 percent and one bank setting interest rates below 8 percent.

The NRB had issued a directive directing commercial banks to set interest rates above a maximum of 9.3 percent. Banks with CD ratio exceeding 90 percent will be allowed to pay interest up to 9.36 percent. Accordingly, most of the banks have fixed interest rate at 9.36 percent. Sunrise Bank has announced that the interest rate is 10.07 percent.

Himalayan Bank and NIC Asia Bank have also announced new interest rates. Himalayan Bank has set interest rates at 9 percent and 8.60 percent.

NIC Asia 9.36 percent, Siddhartha Bank 9.36 percent, Civil 9.36 percent, Century 9.36 percent. Similarly, Kumari 9.36 per cent, Prime 9.36 per cent, NMB 9.36 per cent, Machhapuchhre Bank 9.36 per cent, Citizens 8.80 per cent, Global IME Bank 9.36 per cent, Himalayan 9.36 per cent, Sunrise 9.06. Prasit, Krishi Vikas 8.85 percent, Nabil Bank 9.36 percent, Mega Bank 9.36 percent, SBI 9.36 percent, Rastriya Banijya 8.36 percent, Prabhu 8.57 percent, Nepal Bank 8.36 percent, Everest Banks have set new interest rates at 9.36 percent and Sanima at 9.06 percent.

The NRB had directed that the interest rate should be 10 percent lower than the previous month.