Banks giving away record-high interests on deposit as liquidity crisis deepens

KATHMANDU: Commercial banks of the country have revised interest rates for the month of Kartik. Interest rate that banks have announced are much higher as banks have been facing the liquidity problem.

Moreover, banks have made a gentleman’s agreement to increase interest rates to address the liquidity crisis seen in the market. Bhuwan Dahal, the president of the Nepal Bankers’ Association, informed that new interest rates of banks are the highest in the past few years.

Bank                                                   Interest Rate

Himalayan Bank                          Up to 11.66%
NIC Asia                                         Up to 11.1%
NCC Bank                                       10.55%
Kumari Bank                                  10.31%
Laxmi Bank                                    10.05%
Sunrise Bank                                  9%