Savings Account Interest Rates Nepal: March (Falgun) Overview
17th February 2025, Kathmandu
Commercial banks in Nepal have published their interest rates for March. Most banks have continued with the rates set for February, while a few banks have made slight adjustments.
Savings Account Interest Rates Nepal
Global IME Bank’s Adjustment
Global IME Bank has increased the interest rate on long-term fixed deposits by 0.25%. The rate now stands at 5.25%. This increase aims to attract depositors seeking better returns on their savings.
Laxmi Sunrise Bank’s Rate Cut
In contrast, Laxmi Sunrise Bank has reduced its fixed deposit rates by 0.25%. The new rate for long-term deposits is 5.00%. This reduction could influence depositors who are considering investment in fixed deposit schemes.
Stability in Rates for Most Banks
18 out of 20 commercial banks have maintained their Magh interest rates for Falgun. As a result, the average interest rate for personal fixed deposits remains at 6.001% across these banks. This consistency provides a sense of stability for depositors.
Savings Account Rates
Interest rates for savings accounts have stayed low across most banks. Rates generally range from 3% to 3.10%. Global IME Bank and Kumari Bank offer 3.00%, while NIC Asia Bank provides 3.10%. These rates reflect ongoing trends in the financial sector.
Key Banks’ Fixed Deposit Rates
Sanima Bank offers a fixed deposit rate of 5.30% for personal accounts. Kumari Bank follows closely with a rate of 5.31%. NIC Asia Bank and Nabil Bank also provide 5.00% for their personal fixed deposits.
Consistency in Deposit Products
Other banks, such as Prabhu Bank and Machhapuchchhre Bank, have kept their fixed deposit rates at 5.00% and 5.10%. These rates show little change, indicating banks’ focus on maintaining a steady deposit environment.
Impact of Global Trends
The rates offered by these banks reflect global economic conditions. While savings account rates remain low, fixed deposit rates have shown slight variation. Banks are working to offer competitive returns while balancing risk and profitability.
Conclusion: A Stable Banking Environment
The Nepalese banking sector has experienced minimal fluctuations in interest rates for Falgun. Despite the slight changes in a few banks, the overall trend is one of continuity. This stability offers depositors predictable returns, with no significant shifts in the market landscape.
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