16 August 2024, Kathmandu
Global IME Bank has announced adjustments to its interest rates, notably reducing the rates on ordinary savings accounts while keeping term deposit rates stable.
Global IME Bank Lowers Interest Rates
These changes came into effect on 17th August, reflecting the bank’s latest strategy in response to market conditions.
For August, Global IME Bank will continue to offer up to 5.25 percent interest for institutional term deposits and 6.25 percent for individual term deposits. Notably, the bank has also maintained its policy of offering an additional 1 percent interest on remittance accounts. This consistency in term deposit rates provides stability for customers seeking to lock in their investments at competitive rates.
However, the bank has made a significant reduction in the interest rates offered on ordinary savings accounts. In August, the bank has set a new minimum interest rate range of 3 percent to 3.50 percent on these accounts. This marks a slight decrease from the 3.05 percent interest rate that was previously offered in July. Meanwhile, the Global Remit Savings Account will now provide 4.5 percent interest, which remains an attractive option for account holders who regularly receive remittances.
The bank’s decision to lower interest rates on savings accounts while keeping term deposits stable reflects a strategic approach to managing its interest rate offerings. For savers, this change may prompt a re-evaluation of where to park their funds, especially for those relying on ordinary savings accounts for returns.
Despite the reduction in savings interest rates, Global IME Bank continues to offer competitive rates on other deposit accounts, ensuring that customers have a range of options to meet their financial goals. Customers are advised to review these changes and consider their impact on personal savings strategies.
For more information and to discuss the best options for your savings and deposits, visit any Global IME Bank branch or contact their customer service department.
Global IME Bank Lowers Interest Rates
