Reduction in average interest rate: The maximum average interest rate on personal fixed deposits decreased from 4.4 percent in Baishakh to 4.343 percent in Jestha.
Institutional interest rate: The maximum average rate of institutional fixed deposits has also come down from 3.2295 percent to 3.204 percent.
Banks that cut down interest rates: NIC Asia Bank, Himalayan Bank and Nepal Bank have reduced the interest rate by 0.25 percent. Similarly, Standard Chartered Bank and Kumari Bank have also reduced interest rates.
Banks that raised interest rate: Siddhartha Bank has increased the interest rate on personal deposits from 4 percent to 4.05 percent. Citizens Bank International has increased the maximum rate of institutional fixed deposit by 0.5 percent.
Fixed rate: 12 banks have continued the same interest rate in Baishakh.
