Kathmandu. The interest rate of banks has decreased in the month of September. According to the new interest rate released by 20 commercial banks for September, the interest rate of deposits has decreased further compared to August.

The interest rate on personal fixed deposits of banks has decreased from 4.136 percent to 4.0895 percent.The interest rate on institutional fixed deposits has also decreased by 0.0145 per cent from 3.081 per cent to 3.0665 per cent.

Eve rest Bank has reduced the highest interest rate by in September.

Eve rest Bank has reduced the interest rate of personal fixed deposits by 0.55 and the interest rate of Institutional Fixed Deposits by 0.25 to 3.5 and the interest rate of Institutional Fixed Deposits by {{}0.25{{} has been reduced by {{}3.25{{}}.

Nabil Bank has also reduced the interest rate on individual fixed deposits by 0.3.3 while the interest rate on institutional fixed deposits has remained unchanged.

Similarly, individual fixed deposits standard chartered bank 0.05 percent, virgins banks 0.03 percent and citizens bank 0.25{{TAG_CLOSE_ span_23} percent have reduced interest rates. On the other hand, Bank has increased the interest rate of Institutional Fixed Deposits by 0.21 percent. However, Bank has kept the interest rate of individual fixed deposits unchanged.

Machhapuchchhre Bank, Nepal Investment Mega Bank, NMB Bank, Krishi Vikas Bank and National Commerce including Bank Total 15 commercial banks has continued the interest rate for the month of September.