Ashad Interest Rate Update; Several Banks Cut Individual FD Rates, Which Bank Offers the Highest Return?

Commercial banks have published new fixed deposit (FD) interest rates for the month of Ashad, with most banks either maintaining existing rates or making slight downward adjustments on individual deposits.

According to the published interest rates of 20 commercial banks, the majority maintained their existing FD rates for both individual and institutional depositors. However, several banks reduced returns on individual fixed deposits by up to 0.50 percentage points.

NMB Bank continues to offer the highest interest rate on individual fixed deposits at 4.75%, despite a slight reduction from 4.80% in Jestha. It is followed by Rastriya Banijya Bank also offering FD rate at 4.75%. On the institutional deposit side, NMB Bank and Rastriya Banijya Bank remain the highest, both offering 4.00%, the highest among commercial banks.

Among the banks that revised rates downward for individual depositors, Laxmi Sunrise Bank and NIC Asia Bank recorded the largest cuts of 0.50 percentage points, lowering their rates from 4.50% to 4.00%. Himalayan Bank reduced its rate by 0.25 percentage points to 4.00%.

For institutional depositors, most banks kept rates unchanged. However, NIC Asia Bank lowered its institutional FD rate from 3.50% to 3.00%, while Standard Chartered Bank Nepal increased its rate from 2.48% to 2.75%.

Twelve banks, including Agricultural Development Bank, Citizens Bank International Limited, Everest Bank, Global IME Bank, Machhapuchchhre Bank, Nabil Bank, Nepal Bank, Nepal Investment Mega Bank, Prabhu Bank, Rastriya Baniya Bank,  Sanima Bank and Siddhartha Bank, kept their FD rates unchanged for Ashad.