Out of twenty commercial banks, ten commercial banks have cut down the interest rates while other ten have kept the interest rates stable.
For the month of Mangsir, NIC Asia Bank, Siddhartha Bank, Himalayan bank, Standard Chartered Bank, Prime Commercial Bank, Citizens Bank, Nabil Bank, Nepal SBI Bank, Sanima Bank and Kumari Bank has reduced their maximum interest rates.
Among them, NIC Asia cut the interest rates with highest point. It cut the interest rates by 0.75 percent point. The bank fixed the maximum interest rates of 5.75 percent on individual fixed deposit. It also cut down maximum interest rates on institutional fixed deposit.
Meanwhile, Global IME Bank is providing the highest interest rates of 6 percent on individual fixed deposits. Standard Chartered Bank has the lowest interest rates of 4.7 percent on individual fixed deposits.
As per the published notices, the average interest rates on individual fixed deposits decline to 5.04 percent in Mangsir compared to 5.20 percent of Kartik. The average interest rates on individual fixed deposits declined by 0.16 percent point during the period.
Meanwhile, the average maximum interest rate on institutional fixed deposit declined by 0.07 percent point.
