KATHMANDU

NMB Bank has reduced the interest rate. The bank has reduced the interest rate from Mangsir 25 onwards.

The bank has announced that it will provide a maximum of 9 percent interest on personal deposits and a maximum of 7 percent interest on institutional deposits. Previously, the bank used to provide 9.50 percent interest on personal deposits.

Similarly, the bank is now providing interest on savings from a minimum of 4.60 percent to a maximum of 6.60 percent.

So, NMB Bank has reduced the interest rate ahead of NIC Asia Bank and Kumari Bank. As other banks continue to reduce interest rates, other banks are also preparing to reduce interest rates.