Bank interest rates increase: Maximum of 11.36 percent interest in Fixed Deposit

KATHMANDU, Sep 17: Commercial banks have set new interest rates for the Nepali month of Asoj. According to the policy of the Central Bank, the new interest rates which will be applicable from the 18th of September, have been announced by the banks on September 17.

Banks that have set new interest rates for Asoj through the open competitive system have offered maximum interest rates of up to 11.36 percent on Fixed Deposits (FDs). Prime Commercial Bank has offered 11.36 percent for Asoj, which is an increase of 4.22 percent compared to the Nepali month of Bhadra. Banks had set a maximum interest rate of 10.90 percent for the month of Bhadra.