The banks that are providing an average interest of 6.99 percent points in individual fixed deposits in Jestha are set to provide 6.86 percent point interest in Ashad.
Similarly, the average interest rate of institutional fixed deposits has declined by 0.129 percent point.
Out of 20 operational commercial banks, eleven banks cut their interest rates for Ashad. Out of them, Global IME Bank cut the biggest slice with one percent point. The bank cut interest rate in individual fixed deposits to 6.5 percent from previously 7.5 percent. Similarly, it cut interest rate of institutional fixed deposit also by 1 percent to 5.5 percent.
Similarly, three banks including Nabil Bank, Machhapuchchhre Bank and Himalayan Bank have raised the interest rates. Out of the three, Himalayan Bank raised the interest rate by maximum of 0.75 percent. The bank is set to provide 8.25 percent interest to individual fixed deposits.
Meanwhile, Agriculture Development Bank is providing the lowest interest rates of 5.661 percent to individual fixed deposits and 4.01 percent to institutional FDs.
