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Deposit interest rate decreased for October
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Banks and financial institutions have reduced the deposit interest rates for the month of October. As the deposits are increasing and the credit flow is not increasing as expected, the banks have further reduced the interest rates on the deposits. Compared to the month of August published by Vasanjya Bank, the interest rate of banks' deposits has decreased by an average of 0.07 percentage points in October.
In August, the average interest rate of banks' one-year term deposits was 6.47 percent. In October, this interest rate decreased to an average of 6.4 percent.
Although the average interest rate of banks has decreased, four banks have increased the deposit interest rate. Banks that will increase interest include Lakshmi Sunrise, Prime, Krishi Bikas and Nepal Bank.
Eight banks have reduced the deposit interest rate. The remaining 8 banks have kept the deposit interest rate constant. As the interest rate of fixed deposits decreased, the interest rate of ordinary savings decreased.
प्रकाशित : भाद्र ३१, २०८१ ११:२५
