Commercial Banks Revise Interest Rates for Ashwin; Nine Banks Slash, Two Raise

Commercial banks have released their revised interest rates for the month of Ashwin, showing a slight overall decline compared to Bhadra. Out of the 20 commercial banks, nine banks maintained their rates unchanged, while 11 banks introduced adjustments. Among these, nine banks lowered their rates, whereas two banks opted for an increase.

Prime Commercial Bank, Sanima Bank, and Everest Bank have each reduced the maximum interest rate on personal term deposits by 0.5 percentage points compared to Bhadra. Citizens Bank and NIC Asia Bank followed with reductions of 0.25 percentage points, while Kumari Bank trimmed its rate by 0.2 percentage points.

Conversely, two banks raised their deposit rates for Ashwin. Laxmi Sunrise Bank increased its maximum personal term deposit rate by 0.25 percentage points, and Standard Chartered Bank made a smaller upward adjustment of 0.05 percentage points.