Base Rate of Commercial banks of Nepal has decreased and cheap loans offer by banks

Nov Wed 2023 03:30:49

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Base Rate of Commercial banks of Nepal has decreased and cheap loans offer by banks

Kathmandu. Now the interest rate of banks is going to be cheaper. In the first quarter of the current year, banks have reduced the base rate and made their financial statements public. It is seen that the interest rate of the loan will also decrease after the banks publish the reduction of the base rate. The interest rate of the bank with lower base rate is lower and the interest rate of the bank with higher base rate is also higher than the bank with lower base rate.

The average base rate of 20 commercial banks operating in the country is 9.99 percent. In the same period last year, the base rate of banks was 13.38 percent on average. Compared to the same period last year, the base rate of banks has decreased by 3.38 percent in the current year. It is seen that when the base rate decreases, the interest rate of the banks will also decrease. At the end of last year, the average base rate of commercial banks was 10.04 percent. Compared to June 2080, the base rate has decreased in October.

Until the first quarter of the current year, the base rate of 11 commercial banks is above 10 percent, while the base rate of 7 commercial banks is between 9 percent and 10 percent. The base rate of the remaining two banks is between 8-9 percent.

According to the financial statements released by the banks, Standard Chartered Bank will provide the cheapest loan to common customers, while the next cheapest loan will be provided by the government-owned National Commercial Bank. Because the base rate of these two banks is lower than other banks.

In the first quarter of the current financial year, the base rate of Standard Chartered Bank has decreased to 8.42 percent. The base rate of the bank was 9.26 percent during the same period of the current financial year. Until the end of the last financial year, the base rate of the bank was 9.02 percent.

Rashtriya Commercial Bank has reduced its base rate to 8.70 percent in the first quarter of the current financial year. In the same period of the last financial year, the bank's base rate was 8.85 percent, while at the end of last year, the bank's base rate was only 7.79 percent. Compared to the end of last year, i.e. in June 2080, the base rate of the bank was lower than it is now.

Nepal Bank's base rate also increased to 9.19 percent in the first quarter. In the same period last year, such rate of the bank was 8.92 percent. Until the end of last year, the base rate of the bank was 9.92 percent.

Similarly, the base rate of Siddharth Bank has reduced to 9.53 percent during the review period of the current financial year. In the same period last year, the base rate was 10.43 percent. In the fourth quarter of the last financial year, it was 9.91 percent.

The base rate of Nabil Bank has increased by 9.58 percent. In the same period last year, the base rate of the bank was 9.45 percent. Until the end of last year, the base rate of the bank was limited to 9.52 percent.

The base rate of Everest Bank is 9.70 percent. During the same period last year, the base rate of the bank was only 9.30 percent. At the end of the last financial year, such rate of the bank was 9.47 percent.

Sanima Bank's base rate in the first quarter of the current financial year is 9.75 percent. During the same period last year, the base rate of the bank was 10.50 percent. The base rate of the bank was 10.15 percent till the fourth quarter of last financial year.

The base rate of NMB Bank in the first quarter of the current financial year is 9.85 percent. If we look at the same period last year, the base rate of the bank was 10.15 percent. In the last quarter of the last financial year, the base rate of the bank was 10.37 percent.

In the first quarter of the current financial year, the base rate of Nepal Investment Mega Bank is 9.99 percent. In the same period last year, the base rate was 9.18 percent. At the end of last year, the base rate of the bank was 9.36 percent.

Machhapuchhrre also has 10.01 percent base rate in the first quarter of the current financial year. During the same period last year, the base rate of the bank was 10.36 percent. At the end of last year, the base rate of the bank was 10.74 percent.

Global IME Bank's base rate is 10.07 percent in the first quarter of the current financial year. The base rate of the bank was 10.19 percent during the same period last year. At the end of last year, the base rate of the bank was 10.20 percent.

Similarly, Prabhu Bank also has a base rate of 10.14 percent in the first quarter of the current financial year. During the same period last year, the base rate of the bank was 10.15 percent. In the last quarter of the current financial year, the base rate of the bank reached 10.16 percent.

In the first quarter of the current financial year, Nepal SBI Bank base rate is 10.25 percent. In the same period last year, the base rate of the bank was 10.22 percent.

Krishi Bikas Bank also has a base rate of 10.38 percent in the first quarter. In the same period last year, the base rate was 9.83 percent. Bank's base rate has increased in October compared to June. By the last quarter of last year, the base rate of the bank was 10.06 percent.

NIC Asia Bank average base rate is 10.56 percent. The base rate of the bank was 10.67 percent during the same period last year, while the base rate was 9.98 percent in the last quarter of last year.

On the other hand, Citizens Bank also has a deposit rate of 10.60 percent in the first quarter of the current financial year. The base rate of the bank was 11.14 percent during the same period of last financial year. In the last quarter of the last financial year, the average base rate was only 10.51 percent.

In the first quarter of the current financial year, the base rate of Prime Commercial Bank has also come down to 10.64 percent. In the same period of the last financial year, the bank's base rate was 10.91 percent.

The base rate of Laxmi Sunrise Bank has increased to 10.80 percent. If we look at the same period last year, the base rate of the bank was 10.66 percent. The base rate of the bank was 10.75 percent at the end of last year.

Himalayan Bank's base rate has also reached 10.86 percent in the first quarter of the current financial year. The base rate of the bank was only 10.43 percent in the same period of the last financial year, while at the end of last year, the base rate was 10.86 percent.

In the first quarter of the current financial year, the base rate of Kumari Bank has decreased to 10.19 percent. The base rate of the bank was 10.99 percent during the same period last year. At the end of last year, the base rate of the bank was 10.90 percent.