Kathmandu. The 20 commercial banks that are in operation have announced the interest rates for the month of October. The interest rate on personal fixed deposits of banks has decreased on an average in October compared to September.

On an average, the interest rate of banks was 4.08 percentage points in September. In October, the interest rate decreased by 0.07 percentage points to 4.01 percentage points.

Everest Bank has increased the interest rate on October compared to September. Everest Bank has increased the interest rate by 0.25 percentage points to 3.75 percent compared to September.

Nepal Investment Mega Bank’s interest rate for the month of October decreased by 0.8 percentage points to 3.7 percent. Nabil Bank’s interest rate decreased by 0.5 percentage points to 3.75 percent, while Prabhu Bank’s interest rate decreased by 0.3 percentage points to 4.25 percent.

The interest rate of Nepal SBI Bank decreased by 0.1 percentage points to 4 percent, Standard Chartered Bank by 0.05 percentage points to 3.7 percent and Kumari Bank by 0.03 percent to 3.7 percent.

The interest rates of other banks have remained unchanged.

Likewise, Himalayan Bank 4 percent, Sanima Bank 4.5 percent, NMB Bank 4.5 percent, Machhapuchchhre Bank 4.5 percent, Agricultural Development Bank 4.15 percent, Nepal Bank 4.15 percent, Laxmi Sunrise Bank 4 percent, NIC Asia Bank 4 percent, Rastriya Banijya Bank 4 percent, Prime Commercial Bank 4 percent, Global IME Bank 4 percent, Citizens Bank 3.85 percent and Siddhartha Bank 3.76 percent.

The interest rate has fallen further due to excess liquidity in the banking system and lack of loan investment.