Kathmandu. Commercial banks have announced a new interest rate effective from today.

The highest average of banks in March was 4.49 TAG_OPEN_span_6 4 percent. This is 0.075 percent less in personal fixed deposits compared to February. It was 4.569 percent in February.

Out of 20 commercial banks, six have reduced their interest rates. The rest of the banks have continued with the interest rates for February.

Standard Chartered Bank’s interest rate fell 0.14 percent, Kumari Bank 0.51 percent, Agriculture Development Bank 0.1 percent, Prime Commercial Bank 0.1 percent, Global IME Bank 0.25 percent and Nepal Bank 0.6 percent respectively.