Kathmandu. Most of the banks have kept fixed fixed interest rates for the month of May. Most of the banks have kept the interest rate unchanged with effect from May 1.
Interest rates of commercial banks fell by an average of 0.02 per cent in May. The average interest rate of banks was 5.95 percent in May. The interest rate was 5.97 per cent in the previous month.
As many as 14 banks have decided to continue the interest rates for the month of May. Similarly, three banks have increased interest rates for the month of May and three banks have reduced interest rates.
Everest Bank, Nepal Bank and Sanima Bank have increased interest rates for the month of May, while Nepal Investment Mega Bank (NIMB), Siddhartha Bank and Kumari Bank have reduced interest rates. The interest rates of the remaining 14 banks remained stable.
Everest Bank has offered 6.64 percent interest rate on individuals for the month of May, compared to 6.61 percent in April.
Similarly, Nepal Bank has fixed 5.45 percent interest rate for individuals. Last month, the bank’s interest rate was 5.15 percent. Similarly, Sanima Bank has fixed an interest rate of 6.33 percent for the month of May, which is 0.38 percent higher than the previous month.
Similarly, among the banks, NIMB has decided to offer 5.5 percent interest rate on individuals for the month of May. The bank’s interest rate was 6.5 percent in April.
Similarly, Siddhartha Bank has fixed 5.75 percent interest rate for individuals for the month of May, while Kumari Bank has fixed 5.91 percent interest rate. Which is 0.25 percent and 0.01 percent lower than the previous month.
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