KATHAMANDU

Kumari Bank has also reduced the interest rate for the month of Magh. The bank has reduced the interest rate on deposits to be effective on Magh 1.

According to the new interest rate made public by the bank, the bank will provide a minimum of 6.50 percent and a maximum of 8.11 percent interest on personal term deposits in the month of Magh.

Similarly, the bank will provide a minimum of 5.25 percent and a maximum of 6.11 percent interest on institutional term deposits. Earlier, the bank had been providing a maximum of 9.31 percent on personal term deposits and 7.31 percent on institutional term deposits in Poush.

Earlier, the Asian Development Bank (ADB) also reduced the interest rate for the month of Magh. ADB Asia Bank and other banks are also preparing to reduce the interest rate at Kumari Bank.