Out of twenty commercial banks, thirteen commercial banks have cut down the interest rates which brought down the interest rate by five percent point.
As per the published notices, the average interest rates on individual fixed deposits decline to 4.834 percent in Poush compared to 5.0405 percent of Mangsir. The average interest rates on individual fixed deposits declined by 0.2065 percent point during the period.
Meanwhile, the average maximum interest rate on institutional fixed deposit declined by 0.13 percent point.
For the month of Poush, thirteen commercial banks cut down the interest rates while seven banks have kept their rates intact.
Out of all banks, Global IME Bank and Himalayan Bank are providing the highest interest rate of 5.5 percent while Prime Commercial Bank is providing the lowest interest rate.
