Bank interest rate decreased, 2 banks increased

Commercial banks have announced interest rates for the month of May. According to which, out of 19 commercial banks, 9 banks are going to continue the interest rate of the month of May. Similarly, NMB Bank, Citizens Bank, Siddharth Bank, Prime Commercial Bank, Sanima Bank, Nabil Bank, Everest Bank and Nepal SBI Bank have reduced the interest rates for the month of May. NIC Asia Bank, Prabhu Bank and Global IME Bank have increased.

According to the new interest rates published by the banks, there is a general decrease in inflation compared to the month of Baisakh. Banks which were giving interest at an average rate of 7.14 percent points on personal term deposits in May, will give interest at an average rate of 7.06 percent points in the month of May. Similarly, the interest rate of institutional term deposits has also decreased by zero.07 percentage points on average.