KATHMANDU

After depositors stopped withdrawing money, the NIC Asia Bank increased the interest rate. When depositors withdrew 40 billion rupees from the bank, the bank increased the deposit interest rate in the month of Chaitra. Along with this, NIC Asia Bank had been giving 8% interest on personal term deposits in Falgun, but in Chaitra month, they will give interest at a rate of 8.54%. Similarly, the bank will give 7.54% interest on institutional term deposits in Chait month. NIC Asia Bank had previously been giving 6% interest on institutional term deposits in Falgun.

As depositors continue to withdraw money from the bank, the bank has increased the deposit interest rate in Chait to stop deposits. While NIC Asia is increasing the interest rate in Chait, 17 commercial banks out of 20 have reduced the interest rate. NIC Asia Bank is the only one increasing the interest rate in Chaitra. In Chaitra, Prabhu Bank and Global IME Bank have provided consistency to the interest rate in Falgun.

Similarly, in Chaitra, Everest Bank and NMB Bank have reduced the interest rate compared to Falgun. These two banks have reduced the interest rate by a maximum of 1.5% on personal term deposits in Chaitra compared to Falgun, while they have reduced the interest rate by 0.5% on institutional term deposits.