Kathmandu. Commercial banks are reducing interest rates. The interest rate on fixed deposits has decreased by 0.05 percentage points to 4.29 percent in June compared to June. It was 4.34 percent in May.

Out of the 20 commercial banks in operation, the interest rate of 15 banks has remained stable while the interest rate of five banks has been reduced.

They are Himalayan Bank, NIC Asia Bank, NAB Bank, Prime Bank and Standard Chartered Bank.

NMB Bank and Rastriya Banijya Bank have the highest interest rates. These banks will offer 4.75 percent interest on fixed deposits.

Standard Chartered Bank has the lowest interest rate of 3.95 percent.