Kathmandu. Commercial banks have reduced interest rates for the month of June. Banks have reduced interest rates by an average of 0.05 percent in June compared to The month of June.
The maximum interest rate on personal term deposits was 5.952 per cent in May, which has come down by 0.05 per cent to 5.902 per cent in June.
For the month of June, 15 banks have kept the interest rate unchanged for the month of June, while only five banks have reduced the interest rate. NMB Bank, Everest Bank, NIC Asia Bank, Krishi Bikas Bank and Kumari Bank have reduced interest rates.
Nmb Bank has fixed 6 percent interest rate for individuals, Everest Bank 6.55 percent and NIC Asia Bank 6.55 percent.
Agriculture Development Bank and Nepal Bank are the lowest interest paying banks on such deposits. The maximum interest rate on such deposits of these two banks is 5.45 percent.
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