Banking News – Commercial banks have announced new deposit interest rates for the month of Shrawan, with the revised rates coming into effect from July 17.

The banks have set the average interest rate on individual fixed deposits at 4.17 percent, down from 4.26 percent in the previous month of Asar.

In addition to individual fixed deposits, banks have also reduced interest rates on institutional fixed deposits, with the average institutional deposit rate fixed at 3.12 percent.

Among the 20 commercial banks, six banks have lowered their deposit rates for Shrawan, while the remaining 14 banks have retained their existing rates.

The banks that reduced their individual fixed deposit rates are:

• Kumari Bank – 3.85%
• Global IME Bank – 4.00%
• Citizens Bank International – 3.95%
• NMB Bank – 4.50%
• Standard Chartered Bank Nepal – 3.85%
• Rastriya Banijya Bank – 4.00%

Meanwhile, the following banks have maintained their previous month’s rates:

• Agricultural Development Bank – 4.15%
• Everest Bank – 4.05%
• Nepal Bank – 4.25%
• Nepal SBI Bank – 4.10%
• Laxmi Sunrise Bank – 4.00%
• Prime Commercial Bank – 4.00%
• Prabhu Bank – 4.55%
• Machhapuchchhre Bank – 4.50%
• Himalayan Bank – 4.00%
• Siddhartha Bank – 4.05%
• Nabil Bank – 4.55%
• Sanima Bank – 4.50%
• Nepal Investment Mega Bank – 4.50%
• NIC Asia Bank – 4.00%

The latest revision reflects the continued decline in deposit interest rates across Nepal’s commercial banking sector, amid excess liquidity and easing funding costs.