Currently, the commercial banks are charging 6 percent premium on the base rate on loan extension which will decline to 5 percent as per today’s decision, says Sunil KC President of NBA.
‘NBA took the decision to provide relief to borrowers of small loans despite unchanged base rate. It will bring down loan interest rates from Chaitra,’ he added. Although the base rate has remained the same,
In the present context, most of the banks have maintained a base rate of 10 percent which means they will charge a maximum of 15 percent as loan interest rates. Moreover, the loan interest rates will further decline from Baishakh due to a decline in the base rate.
Similarly, the association has also decided to cut interest rates on deposits by 0.42 percent point as well. Now onwards, the deposits will attract 6 to 8 percent interest rates.
Likewise, the interest rate on call deposits has been deducted to 3 percent, however, the association decided to keep interest rates on fixed deposits intact for the time being.
