Kathmandu. The interest rate of the commercial banks has come down again. Commercial banks have reduced the interest rate for the month of June by announcing the new interest rate on Thursday.

The average interest rate on personal fixed deposits of commercial banks has been reduced to 4.343 percent in May from 4.425 percent in April. Thus, the average interest rate has decreased by 0.0595 percent.

Similarly, the average interest rate on institutional fixed deposits has also decreased from 3.2295 percent to 3.204 percent.

Out of 20 commercial banks, seven banks have reduced the maximum interest rate on personal fixed deposits while 13 banks have kept the interest rate unchanged. Meanwhile, Citizens International Bank, Himalayan Bank, Kumari Bank, Nepal Bank, NIC Asia Bank, NMB Bank and Standard Chartered Bank have reduced their fixed deposit rates.

Similarly, they are Agricultural Development Bank, Everest Bank, Global IME Bank, Nepal Investment Mega Bank, Laxmi Sunrise Bank, Machhapuchchhre Bank, Nabil Bank, SBI Bank, Prime Commercial Bank, Prabhu Bank, Rastriya Banijya Bank, Sanima Bank and Siddhartha Bank.

What is the interest rate of which bank?

For the month of June, NMB Bank’s personal interest rate has been fixed at 4.80 percent and that of Rastriya Banijya Bank has been fixed at 4.75 percent, which is higher than other banks. Kumari Bank has the lowest interest rate of 3.96 percent.

However, the bank of Nepal Investment Mega Bank, Nabil Bank, Prabhu Bank, Nepal Investment Mega Bank, Sanima Bank, Laxmi Sunrise Bank, Global IME Bank, Machhapuchchhre Bank, Nepal SBI Bank, Agricultural Development Bank, Prime Commercial Bank and Everest Bank have extended their interest rates for the month of May.

Banks seem to have made minor revisions to interest rates keeping in mind the liquidity situation and market demand.