KATHMANDU: Commercial Banks and Development Banks have kept interest rates unchanged for the month of Chaitra. However, Finance Companies have increased their rates.
Earlier, commercial Banks had raised their interest rates for the month of Falgun after keeping their interest rate profile unchanged in Magh.
Most commercial banks provided a 6.03% interest rate p.a. for depositors on savings in Falgun. Meanwhile, individuals got a maximum interest payment of 11.03% p.a. on fixed deposits. On the other hand, institutions got a 10.03% interest payment p.a. on fixed deposits.
Development Banks had also raised the interest rates on deposits in Falgun compared to the previous months. Regional level development banks had increased the interest rates on fixed deposits to 11.65% and national level development banks to 11.55%.