KATHMANDU

For the month of Jestha, banks have reduced their interest rates. Commercial banks have published new interest rates, lowering the term deposit interest rates of banks in Jestha compared to Baisakh.

In Jestha, as per the new publicized interest rates, 9 out of 19 commercial banks have reduced their interest rates. In addition, commercial banks in Jestha are now providing interest at an average rate of 7.06 percent.

Out of the 8 commercial banks that reduced their interest rates in Jestha, NIC Asia Bank, Prabhu Bank, and Global IME Bank have increased their interest rates. NIC Asia Bank has increased the personal term deposit interest rate by 0.05 percent and the institutional term deposit interest rate by 0.1 percent, while Global IME Bank has increased the personal term deposit interest rate by 0.5 percent and the institutional term deposit interest rate by 0.5 percent.

Similarly, Prabhu Bank has increased the personal term deposit interest rate by 0.5 percent in Jestha while keeping the institutional term deposit interest rate stable.

Currently, there have been no changes in the interest rates of the eight commercial banks in Jestha. Himalayan Bank, Prabhu Bank, Kumari Bank, Machhapuchhre Bank, Standard Chartered Bank, Nepal Investment Mega Bank, Laxmi Bank, and Nepal Bank have maintained consistency in the interest rates for the month of Baisakh.