Three banks cut interest rates, remaining 17 unchanged
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Banks and financial institutions have reduced the interest rate of deposits for the coming January as well. According to the new interest rate published by banks and financial institutions on Monday, the average interest rate of deposits has decreased in January.
For the month of January, three commercial banks have reduced the interest rate on deposits, while 17 banks have kept it constant. Accordingly, Krishi Bikas Bank has reduced the interest rate of one-year personal term deposits by 0.06 percent and Nepal SBI Bank by 0.50 percent.
However, Himalayan Bank has reduced the interest rate of ordinary deposits by 0.010 percent. All other commercial banks have published the deposit interest rates equal to this year.
For the month of January, the average interest rate of one-year personal term deposits has remained at 6.001 percent and 4.47 percent of ordinary savings. For this month, the average interest rate of one-year personal term deposits was 6.029 percent and that of ordinary savings was 4.53 percent.
