Baisakh Interest Rate Update: Several Banks Cut Individual FD Rates, Only One Bank Provides 5% FD Rate

Commercial banks have published new interest rates for the month of Baisakh, showing a decline compared to the previous month.

According to the newly published rates for the month of Baisakh 2083, Interest rates on personal fixed deposits offered by 19 commercial banks have fallen below 5 percent. Himalayan Bank recorded the steepest reductions, each lowering the rates on individual fixed deposits by 0.5 percentage points.

Meanwhile, Twelve banks including Agricultural Development Bank, Global IME Bank, Laxmi Sunrise Bank, Machhapuchchhre bank, NMB Bank, Nepal Bank, Nepal Investment Mega Bank, Nabil Bank, Everest Bank,  Prabhu Bank, Nepal SBI bank, Sanima Bank and Prime Commercial bank have kept their rates unchanged.

For Baisakh, the highest individual FD rate remains 5% offered by NMB Bank Limited. Meanwhile, Rastriya Banijya Bank and NMB Bank also offered the highest institutional FD rate stands at 4%.