First Business News Portal in English from Nepal
KATHMANDU: Following bank’s move to reduce cost of deposits, the base rate of commercial banks has dropped in the second quarter of the current fiscal year.
Drop in base rate of banks means that customers are getting getting loans at a cheaper interest rate.
As per statistics, base rates of 27 commercial banks have dropped by at least 5.61 percent to a maximum of 8.45 percent as of mid-January.
While Rastriya Banijya Bank has the lowest base rate, Civil Bank has the highest. The base rates of commercial banks were in double digits until a year ago.
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