Sanima Bank and Century Commercial Bank issue new interest rates

Wed, Jul 8, 2020 2:48 PM on Interest Rates, Latest,

Sanima Bank Limited and Century Commercial Bank Limited have both published notices issuing new interest rates for various savings and credit packages. Both of their revisions will be effective from today, i.e. 24th Ashad, 2077 B.S.

Century Commercial Bank has fixed the interest rate at 5.50% p.a. for most of its ordinary savings products like the Century Sharedhani Khata, Century Sabaiko Khata, Century Bal Bachat Khata, etc. The interest rate is the same for ordinary deposit products in Sanima Bank like the Sanima Sampanna Bachat Khata, Sanima Surakshit Bhawishya Bachat Khata, etc.

The base rate of Sanima Bank Limited is 8.52% p.a. while that of Century Commercial Bank Limited is 10.27% p.a.

Century Commercial Bank will provide loan against shares at any rate from 2.25% to 4.25% higher than its base rate. In contrast, Sanima Bank provides loans against shares at a rate of up to 5% higher than its base rate. This added value in interest rates is called "risk premium."

In simpler words, interest on a margin loan in Century Commercial bank can get in the range of 12.97% to 14.52% while in Sanima Bank, its 8.52% to 13.52% p.a.

Announcement of Sanima Bank Interest Rate

Announcement of Century Commercial Bank Interest Rate