The downward trend in fixed deposit interest rates has continued, with nine commercial banks reducing their maximum rates for the month of Ashwin (mid-September to mid-October). Another nine banks have kept their rates unchanged compared to Bhadra.
Standard Chartered Bank and Laxmi Sunrise Bank stood apart, raising their maximum deposit rates this month.
Banks that lowered rates include Citizen, Sanima, NIC Asia, Everest, Nepal SBI, Kumari, Nepal Bank, Prime, and Agriculture Development Bank. The reductions ranged from 0.15 to 0.50 percentage points, with Sanima and Everest cutting by 0.50 points each, while Citizen and NIC Asia trimmed by 0.25 points.
Meanwhile, Nabil, Machhapuchchhre, Himalayan, NMB, Global IME, Siddhartha, Prabhu, and Rastriya Banijya Bank have maintained their rates at previous levels.
