By Chaitra, the average base rate of banks has been set at 8.70 percent. The rate declined by nearly 2 percent point compared to the review period of the last FY. It will facilitate borrowers to take bank loanst at a one-digit interest rate.
By the third quarter, the base rate of Standard Chartered Bank has reduced to 6.53 percent. Even if the bank adds 3 percent premium rate, customer can get bank loan at a single digit interest rate.
Similarly, the government owned Rastriya Banijya Bank and Nepal Bank have base rate of 7.31 percent and 7.99 percent respectively.
Except of Citizens Bank, all banks have base rate of a digit. The single digit base rate will increase the possibility of getting loans at a singe digit interest rate. Even now, some of the banks are providing loans including real estate at 9 percent and less.
Meanwhile, Citizens Bank has base rate of 11.14 percent. It will be expensive for borrowers to borrow funds from the bank.
