Himal Press 
KATHMANDU: Most of the commercial banks in the country have lowered interest rates on deposits as their loanable funds expand.
According to the Nepal Bankers Association, 13 commercial banks have reduced rates for Mangsir, mid-November to mid-December, while six have kept the rates unchanged.
Out of 20 Class ‘A’ banks in the country, only Machhapuchchhre Bank Ltd (MBL) has raised interest rates on deposits. The MBL has raised rates by 0.613 percentage points to 10.603% on individual fixed deposits.
Nepal Bank Ltd, Citizens Bank International, Siddhartha Bank Ltd, Laxmi Sunrise Bank Ltd, Kumari Bank Ltd, and Prime Commercial Bank Ltd have kept their rates unchanged. On the other hand, NIC Asia Bank has lowered its rates by the highest 2.035 percentage points. With this change, the bank is now offering an 8.968% interest rate on individual fixed deposits which the lowest offered by 20 commercial banks.
Four banks – Everest Bank Ltd, Prabhu Bank Ltd, Sanima Bank Ltd, and Rastriya Banijya Bank Ltd – have the same interest rate of 9% on individual fixed deposits. Machhapuchchhre Bank Ltd, Himalayan Bank Ltd, and Nepal SBI Bank Ltd have the highest interest rate on individual fixed deposits, i.e., 10.603%.
