As per the published notices, the average interest rates on individual fixed deposits decline to 5.6975 percent in Shrawan compared to 5.9.02 percent of Ashad. The average interest rates on individual fixed deposits declined by 0.2045 percent point during the period. Similarly, the average maximum interest rate on institutional fixed deposit declined by 0.26 percent point.
Out of 20 commercial banks, fourteen have cut their interest rates, two have raised and the remaining four maintained the same interest rate on individual fixed deposits.
For the month of Jestha, Prabhu Bank cut the interest rates with highest point. The bank cut the interest rate to 4.25 percent from 6.1 percent of Baishakh.
Meanwhile, Himalayan Bank increased the interest rate by highest point. The bank is providing 6 percent interest on individual fixed deposits compared to 5.5 percent of Ashad.
