Shrawan Interest Rate Update; Rastriya Banijya Bank Cuts FD Rates Sharply, Which Bank Offers the Highest Return?

Commercial banks have published new fixed deposit (FD) interest rates for the month of  Shrawan, 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.  Rastriya Banijya Bank Limited posted the sharpest cuts, lowering its individual FD rate by 0.75 percentage points to 4.00 percent and its institutional FD rate by a full percentage point to 3.00 percent.

Nepal Bank Limited was the only bank to raise rates, increasing its institutional FD rate by one percentage point to 4.00 percent, while keeping its individual FD rate unchanged at 4.25 percent.

Meanwhile, Nabil Bank and Prabhu Bank offered the highest at 4.55 percent among individual depositors followed by  Machhapuchchhre Bank, Sanima Bank, Nepal Investment Mega Bank, and NMB Bank at 4.50%. On the institutional side, Nepal Bank Limited now offers the highest institutional deposit rate at 4.00%, while Everest Bank follows with 3.50%.

Twelve banks, including Everest Bank, Himalayan Bank, Laxmi Sunrise Bank,  Machhapuchchhre Bank, Nabil Bank, Nepal Investment Mega Bank, Nepal SBI Bank, NIC Asia Bank, Prime Commercial Bank, Prabhu Bank, Sanima Bank and Siddhartha Bank, kept their FD rates unchanged for Shrawan.