16 August 2024, Kathmandu

Nabil Bank has announced that it will keep its interest rates unchanged for the third consecutive month, effective August 17.

Nabil Bank Maintains Stable Interest

This decision continues the stability seen since June, providing consistent terms for depositors and borrowers.

For August, Nabil Bank has set an interest rate of 7 percent for individual depositors and 6 percent for institutional depositors. The interest rate for remittance accounts remains at 8 percent. These rates are consistent with those announced in June, representing a decrease from the previous rates set in May, which were 6.75 percent for individuals, 5.75 percent for institutions, and 7.75 percent for remittances.

The bank has also maintained the interest rate on ordinary savings accounts at 3 percent, the same rate that was set for July. This stability in savings rates aims to provide reliable returns for account holders.

Nabil Bank’s base rate stands at 7.63 percent, with a prepayment rate of 3.99 percent. The bank indicated that loan interest rates will be revised automatically based on changes in the average base rate over the past three months, effective from the first day of each month. Interest rates for consortium loans will be determined by consortium meetings, and a penalty interest rate of 2 percent will apply for late payments.

By maintaining its interest rates steady, Nabil Bank seeks to offer stability and predictability to its customers, supporting effective financial planning and decision-making.

Nabil Bank Maintains Stable Interest