Kathmandu. Commercial banks have reduced interest rates for the month of January. Compared to January, interest rates on personal term deposits have been reduced by an average of 0.82405 percent and institutional term deposits by an average of 0.76455 percent. In the month of January, the average interest rate of banks was 8.99105 percent for individuals, but now it has been fixed at 8.167 percent for January.

Similarly, on the institutional side, it was 6.88805 percent in January, but now it has decreased to 6.1235 percent. On the personal side, out of 20 commercial banks, 18 banks have reduced the interest rate, while the interest rate of two banks has remained the same. The situation is the same on the institutional side.

Nepal SBI Bank has reduced the interest rate by 1.35 percent compared to January. SBI's interest rate was 9.6 percent for personal in January. But now it has decreased to 8.6 percent in January. Similarly, on the institutional side, it was 7.6 percent in January and remained at 6.25 percent in January.

Prime Commercial Bank has reduced the interest rate by 1.9 percent compared to January. Similarly, Krishi Bikas Bank has reduced the interest rate by 1.25%, Lakshmi Sunrise by 1.00, Machhapuchher by 1.6%, Siddharth by 1.15% and Kumari Bank by 1.2%. The interest rate has been fixed.

Nepal Bank has maintained an interest rate of 8 percent for individuals and 6 percent for institutions. Everest Bank has maintained interest rates of 8 percent for individuals and 6 percent for institutions, Lakshmi Sunrise Bank for individuals and 6 percent for institutions, Prabhu Bank for individuals and 6.065 percent for individuals and NIC Asia for individuals and 6.065 percent for institutions.

Rastriya Banijya Bank has maintained an interest rate of 8.07 percent for individuals and 6.07 percent for institutions, while Standard Chartered Bank has maintained an interest rate of 8.07 percent for individuals and 5.25 percent for institutions. Similarly, Prime Commercial Bank, Nabil Bank, Siddharth Bank and Global IME Bank have maintained the same interest rate of 8.1 percent for individuals and 6.1 percent for institutions.