Commercial Banks Revise Fixed Deposit Rates for Chaitra; Several Banks Cut Individual FD Rates

Commercial banks have published their fixed deposit (FD) interest rates for the last month of Chaitra, 2082, with several banks reducing rates for individual depositors compared to Falgun.

Among the 20 commercial banks, Nepal Bank Limited (NBL) reduced its individual FD rate from 5.1% to 4.5%, the highest decline among other banks. Global IME Bank (GBIME) also cut its individual FD rate from 4.75% to 4.50% and institutional FD from 3.5% to 3.0%. Likewise, Kumari Bank (KBL) lowered its individual rate from 4.43% to 4.12%, while Agriculture Development Bank (ADBL) and Prime Commercial Bank (PCBL) slightly reduced their individual FD rates by 0.1%.

Meanwhile, most banks including Himalayan Bank, NIC Asia Bank, NMB Bank, Rastriya Banijya Bank, Nabil Bank, Everest Bank, and Citizens Bank International, Prabhu Bank, Nepal SBI bank, Siddhartha Bank, Machhapuchchhre bank, Sanima bank have kept their rates unchanged.

For Chaitra, the highest individual FD rate remains 5.1%, offered by Nepal Bank Limited and  Himalayan Bank, NIC Asia Bank, NMB Bank, and Rastriya Banijya Bank offered the highest institutional FD rate stands at 4%.