The banks that are providing an average interest of 7.25 percent points in individual fixed deposits in Chaitra are set to provide 7.07 percent point interest in Baishakh.
Out of 20 operational commercial banks, thirteen banks have cut their interest rates on individual fixed deposits, five have kept the rates stable and two banks have raised the rates.
Similarly, the average interest rate of institutional fixed deposits has declined by 0.13 percent point. The average interest rate of institutional fixed deposits which was 6.00 percent points in Chaitra has declined to 5.81 percent points in Baishakh.
Which Bank Provides Highest Interest?
For the month of Baishakh, NMB Bank is providing the highest interest rate. The bank is set to provide 7.97 percent interest to individual fixed deposits kept for five or more years. Meanwhile, Agriculture Development Bank is providing the lowest interest rates of 5.6661 percent to individual interest rates.
Two Banks Raise Interest Rates
Everest Bank and NMB Bank have raised the interest rates for the month of Baishakh. NMB Bank raised the rates by 0.97 percent point and Everest Bank raised the rates by 0.5 percent point.
