Banks Revise Interest Rates After NRB Circular, What Has Changed?
Thu, Oct 21, 2021 4:02 PM on Economy, Interest Rates, National, Latest,
Issuing an addition to the unified directive, Nepal Rastra Bank has urged banks and financial institutions (A, B, and C class) to revise their interest rates profile for the month of Kartik.
Banks and financial institutions had unveiled the new interest rates profile for Kartik with a hike in interest rates, the highest of the last three years. This was understood as an indicator that liquidity in the banking economy was being withdrawan, and BFIs were competing to attract more deposits.
In a three-point directive issued on Tuesday evening, NRB said that banks and financial institutions can change the previously published any interest rate by only 10 percent. Similarly, the highest interest rate provided to institutions on fixed deposits should be lesser than that provided to individuals by 1 percentage point.
The central bank gave the ultimatum that requires BFIs to unveil the revised rates on their respective website by Kartik 03. Similarly, the revised interest rates profile should be published in a national newspaper by Kartik 05.
|
Company |
Ashoj Interest Rate Range on Savings (%) |
Kartik Rate Before NRB Circular |
Kartik Rate After NRB Circular (Applicable Now) |
|---|---|---|---|
|
Global IME Bank Limited |
4.5 |
4.5 |
4.5 |
|
Prime Commercial Bank Limited |
4.76 to 5.76 |
4.76 to 5.76 |
4.76 to 5.76 |
|
Sanima Bank Limited |
4.51 to 5 |
3.51 to 4 |
4.06 to 4.5 |
|
Nabil Bank Limited |
4.26 to 6.26 |
4.26 to 6.26 |
4.36 to 6.36 |
|
Civil Bank Limited |
4.25 to 6.25 |
5.61 to 6.51 |
5 to 7 |
|
Nepal Credit and Commerce Bank |
4.26 to 5 |
5.55 to 6 |
4.69 to 5.5 |
|
Agricultural Development Bank Limited |
3.5 to 5 |
4 to 6 |
3.85 to 6.5 |
|
Prabhu Bank Limited |
3.25 to 5 |
3.25 to 5 |
3.57 to 5.32 |
|
Himalayan Bank Limited |
4.15 to 6.15 |
6.67 TO 7.67 |
4.56 to 6.56 |
|
Standard Chartered Bank Limited |
2.5 to 4 |
2.5 to 4 |
|
|
Rastriya Banijaya Bank Limited |
3.06 to 6 |
3.55 to 6.05 |
3.36 to 6.05 |
|
NMB Bank Limited |
4.52 to 6.52 |
4.57 to 6.57 |
4.97 to 6.57 |
|
Nepal Bangladesh Bank Limited |
3.76 to 4.76 |
5.28 |
|
|
Century Commercial Bank Limited |
4.25 to 6.25 |
5.25 to 7.25 |
5 to 7 |
|
Everest Bank Limited |
3.61 to 4 |
3.61 to 4 |
4.36 to 4.4 |
|
Sunrise Bank Limited |
5.07 |
5.07 |
4.56 |
|
Nepal SBI Bank Limited |
3.55 |
4.56 |
4.56 |
|
Machhapuchchhre Bank Limited |
3.75 to 5 |
5 to 7.25 |
4.36 to 6.51 |
|
NIC Asia Bank Limited |
3.6 |
6.1 to 8.1 |
5 to 7 |
|
Siddhartha Bank Limited |
4.05 to 5.05 |
5.3 to 6.3 |
4.45 to 5.45 |
|
Laxmi Bank Limited |
4 to 6 |
6.05 to 7.5 |
4.4 to 5.5 |
|
Kumari Bank Limited |
3.15 to 5.15 |
5.31 to 7.31 |
4.86 to 6.86 |
|
Bank of Kathmandu Limited |
3.77 to 5.27 |
5.07 to 6.57 |
4.36 to 5.86 |
|
Nepal Investment Bank Limited |
4.02 |
4.02 |
4.36 |
|
Citizens Bank |
3 to 5 |
4.76 to 5.06 |
4 to 5.1 |
|
Mega Bank |
4.55 to 6.05 |
4.27 to 5.77 |
4.36 to 5.86 |
|
Nepal Bank Limited |
3.05 to 4.55 |
3.05 to 5.55 |
3.36 to 6.01 |
|
Bank |
Maximum Interest Rate on FD for Individuals Before NRB Circular |
After Circular |
Maximum Interest Rate on FD for Institutions Before NRB Circular |
After Circular |
|---|---|---|---|---|
|
RBB |
8.06 |
9.55 |
8.06 |
8.55 |
|
HBL |
10.5 |
9.36 |
11.67 |
8.36 |
|
NCC |
10 |
9.36 |
10.55 |
8.36 |
|
NIB |
8.5 |
9.36 |
9.02 |
8.36 |
|
KBL |
9.81 |
9.36 |
9.02 |
8.36 |
|
CBL |
10.11 |
9.36 |
10.61 |
8.36 |
|
SBI |
9.06 |
9.36 |
9.56 |
8.36 |
|
NABIL |
8.76 |
9.36 |
9.26 |
8.36 |
|
GBIME |
9 |
9.36 |
9.5 |
8.36 |
|
MEGA |
8.77 |
9.36 |
9.27 |
8.36 |
|
BOKL |
9.75 |
9.36 |
10.07 |
8.36 |
|
CCBL |
9.75 |
9.36 |
9.99 |
8.36 |
|
PCBL |
9.75 |
9.36 |
9.76 |
8.36 |
|
NBB |
10.28 |
9.36 |
10.28 |
8.36 |
|
SBL |
10.3 |
9.36 |
10.3 |
8.36 |
|
EBL |
8.61 |
9.36 |
8.61 |
8.36 |
|
NBL |
8.05 |
9.36 |
8.05 |
8.36 |
|
NMB |
9.57 |
9.36 |
9.57 |
8.36 |
|
NICA |
11.1 |
9.36 |
8.6 |
8.36 |
|
LBL |
11.05 |
9.35 |
11.05 |
8.35 |
|
MBL |
9.8 |
9.12 |
9.85 |
8.12 |
|
SRBL |
9 |
9.06 |
10.07 |
8 |
|
SANIMA |
8.01 |
9.06 |
8.51 |
8.06 |
|
ADBL |
9.5 |
8.85 |
9.85 |
7.85 |
|
CZBIL |
9.26 |
8.8 |
9.76 |
7.8 |
|
PRVU |
8.25 |
8.57 |
8.25 |
7.57 |
|
SCB |
7.5 |
5.25 |
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