Bank interest rates to lessen starting 15th of March

KATHMANDU, March 9: The interest rate of bank loans will be decreased by 1 percent starting March 15, 2023. The meeting of the Nepal Bankers Association (NBA), an organization of Chief Executive Officers (CEOs) of commercial banks decided to implement a decrease in interest rates.

At the same time, a member of the NBA informed Ratopati that there was an agreement to reduce the interest rate of deposits by 0.42 percent. Commercial banks are currently offering interest rates ranging from 6.42 percent to 8.42 percent on ordinary deposits and up to 12.41 percent on fixed deposits.