The interest rates for the month of Kartik have been announced by the commercial banks.
During the month of Ashwin, interest rates were raised by commercial banks, an effect that was believed to be caused by a decrease in liquidity in the banking system. The increase in interest rates was the largest since the outbreak of the pandemic. Banks, on the other hand, have announced their new interest rate profile today.
Only Sanima Bank has lowered its interest rate range on savings deposits, out of the five commercial banks that have announced their new interest rate profiles this week. Previously, the bank offered 4.51 percent to 5 percent interest on savings, but it now offers interest payments ranging from 3.51 percent to 4 percent per annum. Prabhu Bank has maintained its previous interest rate range, while the other three banks have increased their savings interest rate ranges.
For their part, the five commercial banks have all announced a change in their interest rate profiles on fixed deposits, with the exception of Prabhu Bank Limited and Nepal Bank Limited, which have both maintained their previous range of interest rates. Banks such as Sanima Bank Limited and Rastriya Banijya Bank Limited have lowered their interest rates on fixed deposit accounts. Agricultural Development Bank Limited, on the other hand, has increased the interest rate range on its fixed-term deposits.
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