Kathmandu. The base rate of almost a dozen banks is in single digits. The base rate of 9 banks, including two government banks, is below 10 percent. Currently, the Aadhaar rate of Standard Chartered, Rashtriya Commerce, Everest, Nabil, Nepal, Nepal Investment Mega, Siddharth NMB and Sanima Bank is seen in single digits.

According to the base rate of the banks, it indicates that the interest to be paid when taking a loan is cheap and expensive. At present, those nine banks are seen to be able to give loans at cheap interest rates. Those who want to take a loan also choose the bank for the loan by looking at the Aadhaar rate. It can be estimated on the basis of the base rate that which bank can give loans at cheap interest rates. Even if a bank with a low base rate gives a loan at a competitive interest rate in the market, it still has room to secure enough profit.
Even though banks with lower base rates charge higher premiums, they are competitive with the loan interest rates charged by banks with higher base rates. This means that the base rate is lower, which is positive in terms of the bank's profit. According to the latest update, the base rate of most of the banks has decreased. Banks determine the interest rate by adding a premium to the base rate. When the base rate of banks increases, the interest rate of the loan also increases, while if the base rate decreases, the interest rate of the loan also decreases.
Banks charge a premium of 1.5% to 5% depending on the nature of the loan. According to the new interest rate announced by the banks, the current average interest rate of the loan is 10.0685 percent. While taking a loan from the bank, on an average, it seems that interest has to be paid from a minimum of 11.58 percent to a maximum of 15 percent. However, the base rate may vary depending on the banks.
Based on the base rate, it is seen that Standard Chartered Bank's money can be used at the cheapest interest rate. The base rate of the bank is 8.67 percent. Similarly, the base rate of National Commercial Bank is 8.70 percent, Everest 9.33 percent, Nabil 9.54 percent, Nepal Bank 9.65, Nepal Investment 9.79, Siddharth 9.83, NMB 9.85 and Sanima Bank 9. It is 92 percent. When taking a loan from these banks, the interest will be cheaper compared to other banks.
On the basis of the base rate, it is seen that high interest has to be paid while taking loans from NIC Asia, Kumari, Himalayan and Lakshmi Sunrise. Currently, the base rate of these banks is 10.96 percent, 10.94 percent, 10.88 percent and 10.83 percent respectively. Similarly, currently the base rate of Machhapuchhre Bank is 10.01 percent, Global IME 10.09 percent, Prabhu Bank 10.18, Krishi Vikas 10.34, Nepal SBI 10.42, Citizen 10.68 and Prime Commercial Bank 10.76 percent.