Kathmandu. The new interest rate of the bank has come into effect from today. The new interest rate that came into effect from July 1 has decreased compared to the month of July.

The bank’s deposit interest rate has decreased by 0.090 percentage points in July compared to July.

The new interest rate has increased from 4.25 percent to 4.16 percent. Out of the 20 commercial banks in operation, the interest rates of six banks have been reduced while the interest rates of the remaining 14 banks have remained unchanged.

Likewise, NAB Bank slashed 0.25 percent, Citizens Bank 0.15 percent, Standard Chartered Bank 0.1 percent, Kumari Bank 0.06 percent and Global IME Bank 0.5 percent.

The interest rates of the rest of the banks remain the same as in July.

The interest rates of Nabil Bank, Prabhu Bank, Nepal Investment Mega, Sanima Bank, Machhapuchchhre Bank, Nepal Agriculture, Nepal SBI Bank, Everest Bank, Siddhartha Bank, Himalayan Bank, Laxmi Sunrise Bank, NIC Bank and Prime Bank have remained unchanged.