KATHMANDU — Fixed deposit interest rates Nepal have dropped for Falgun. Nine banks have reduced their rates. Eleven banks kept their rates the same.
The average rate for individual fixed deposits fell from 4.68% in Magh to 4.57% in Falgun. Institutional deposits also fell from 3.38% to 3.33%.
Banks that cut rates include Everest Bank, Nepal SBI Bank, Global IME Bank, Siddhartha Bank, Sanima Bank, Prime Bank, Agricultural Development Bank, Standard Chartered Bank, and NIMB. Banks like Nabil, Nepal Bank, NIC Asia, and Rastriya Banijya Bank did not change their rates.
Experts say the drop is due to enough money in banks and less demand for loans. Savers may now get less profit from deposits. Many might look for other ways to save.
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Source: FiscalNepal
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