For the month of Falgun, the maximum average interest rate on individual fixed deposits declined by 0.1155 percent point to 4.569 percent point compared to 4.6845 percent point of the month of Magh.
Similarly, the average maximum interest rate on institutional fixed deposit declined by 0.0515 percent point.
Out of twenty commercial banks, nine commercial banks cut the interest rates by maximum point. Among them, Global IME Bank cut down the rates by highest point of 0.75 percent. Meanwhile, eleven banks have continued the same rates for Falgun.
Nepal Bank is set to provide the highest interest of 5.1 percent to its depositors while Standard Chartered Bank, Agriculture Development Bank, Prime Commercial, Nepal SBI, Everest and Siddhartha Bank are providing the lowest interest rate of 4.25 percent.
