Interest rates will remain unchanged in June: NBA

KATHMANDU: Commercial banks have made the decision to maintain stable deposit and loan interest rates in June.

The fixed interest rate of 9.99 percent was not changed at today’s Nepal Bankers Association meeting. Institutional term deposits will also have an interest rate of 7.99 percent. Everest Bank CEO and Backers Association member Sudesh Khaling informed FiscalNepal that he would not be increasing the deposit interest rate in June.

Khaling contrasted this with loans, noting that the Nepal Rastra Bank’s rules allow for monthly base rate adjustments. Ordinary deposits currently pay interest at a rate between 5 and 8 percent.