The average maximum interest rate on individual deposits among the 20 commercial banks has been set at 4.0895% for Ashoj, down by 0.0465 percentage points from the 4.136% average recorded in Bhadra.
The average rate on institutional deposits has also declined. The institutional deposit rate, which stood at 3.081% in Bhadra, has fallen by 0.0145 percentage points to 3.0665% in Ashoj.
Everest Makes Largest Cut
Everest Bank has made the largest reduction among banks cutting deposit rates in Ashoj. The bank reduced its maximum individual deposit rate by 0.55 percentage points to 3.50%.
Its institutional deposit rate has also been reduced by 0.25 percentage points to 3.25%.
Nabil Bank lowered its individual deposit rate by 0.30 percentage points to 4.25%, while keeping its institutional deposit rate unchanged at 3.01%.
Similarly, Standard Chartered Bank reduced its individual deposit rate by 0.05 percentage points to 3.75%, while Kumari Bank cut its individual deposit rate by 0.03 percentage points to 3.73%.
Citizens Bank reduced its institutional deposit rate by 0.25 percentage points to 2.75%.
Sanima Raises Institutional Deposit Rate
While most rate movements have been downward, Sanima Bank has increased its institutional deposit rate by 0.21 percentage points to 3.51%.
The bank has kept its individual deposit rate unchanged at 4.50%.
Prabhu Offers Highest Individual Deposit Rate
Among the 20 commercial banks, Prabhu Bank has the highest individual deposit rate at 4.55% for Ashoj.
Meanwhile, Machhapuchchhre Bank, Nepal Investment Mega Bank, NMB Bank, Agriculture Development Bank and Rastriya Banijya Bank, among 15 other banks, have kept their individual deposit rates unchanged for the month.
Overall, commercial banks have continued to reduce deposit rates in Ashoj as the banking system maintains sufficient liquidity while credit demand has yet to show the expected improvement.
| S.No. | Commercial Banks | Bhadra Rate
(Individual / Institutional) |
Ashoj Rate
(Individual / Institutional) |
Difference
(Individual / Institutional) |
| 1 | Prabhu Bank | 4.55 / 2.75 | 4.55 / 2.75 | 0 / 0 |
| 2 | Machhapuchhre Bank | 4.5 / 3 | 4.5 / 3 | 0 / 0 |
| 3 | Nepal Investment Mega Bank | 4.5 / 3.5 | 4.5 / 3.5 | 0 / 0 |
| 4 | NMB Bank | 4.5 / 3.5 | 4.5 / 3.5 | 0 / 0 |
| 5 | Sanima Bank | 4.5 / 3.3 | 4.5 / 3.51 | 0 / +0.21 |
| 6 | Nabil Bank | 4.55 / 3.01 | 4.25 / 3.01 | -0.3 / 0 |
| 7 | Agriculture Development Bank | 4.15 / 2.75 | 4.15 / 2.75 | 0 / 0 |
| 8 | Nepal Bank | 4.15 / 3.5 | 4.15 / 3.5 | 0 / 0 |
| 9 | Nepal SBI Bank | 4.1 / 2.75 | 4.1 / 2.75 | 0 / 0 |
| 10 | Prime Commercial Bank | 4 / 2.75 | 4 / 2.75 | 0 / 0 |
| 11 | Global IME Bank | 4 / 2.75 | 4 / 2.75 | 0 / 0 |
| 12 | NIC Asia Bank | 4 / 3 | 4 / 3 | 0 / 0 |
| 13 | Rastriya Banijya Bank | 4 / 3 | 4 / 3 | 0 / 0 |
| 14 | Laxmi Sunrise Bank | 4 / 3.25 | 4 / 3.25 | 0 / 0 |
| 15 | Himalayan Bank | 4 / 3.5 | 4 / 3.5 | 0 / 0 |
| 16 | Citizens Bank International | 3.85 / 3 | 3.85 / 2.75 | 0 / -0.25 |
| 17 | Siddhartha Bank | 3.76 / 3.05 | 3.76 / 3.05 | 0 / 0 |
| 18 | Standard Chartered Bank | 3.8 / 2.75 | 3.75 / 2.75 | -0.05 / 0 |
| 19 | Kumari Bank | 3.76 / 3.01 | 3.73 / 3.01 | -0.03 / 0 |
| 20 | Everest Bank | 4.05 / 3.5 | 3.5 / 3.25 | -0.55 / -0.25 |
| – | Average | 4.136 / 3.081 | 4.0895 / 3.0665 | -0.0465 / -0.0145 |
