16 August 2024, Kathmandu

Laxmi Sunrise Bank has announced that it will keep its fixed deposit interest rates unchanged for August, continuing the stability observed over the past three months.

Laxmi Sunrise Bank Maintains Stable Fixed Deposit Rates 

The new interest rates, effective from August 1, also include a reduction in loan interest rates.

For term deposits in August, the bank has set an interest rate of 5.50 percent for institutional depositors and 6.50 percent for individual depositors. This maintains the rates from June and July, despite a previous increase in May when the rates were 6 percent for institutions and 7 percent for individuals. Additionally, the interest rate for remittance accounts is set at 7.50 percent, unchanged from the previous months.

The bank has adjusted the interest rates for ordinary savings accounts to a minimum of 3 percent and a maximum of 5 percent. The interest rate for remittance savings accounts has been set at 6 percent. These rates reflect a slight decrease from July when the ordinary savings rate was 3.05 percent to 5.05 percent, and the remittance savings rate was 6.05 percent.

Laxmi Sunrise Bank’s base rate has been reduced to 8.70 percent from the previous 8.90 percent in July, resulting in a decrease in loan interest rates. The spread rate is currently set at 4 percent. As the base rate decreases, the bank’s loan interest rates will adjust automatically, providing more favourable borrowing conditions for customers.

These adjustments reflect the bank’s commitment to offering competitive terms and responding to market conditions, aiming to benefit both depositors and borrowers.

Laxmi Sunrise Bank Maintains Stable Fixed Deposit Rates