Commercial banks not to lower interest rates even in Poush

KATHMANDU: Commercial banks will not lower interest rates during the month of Poush (Dec/Jan).

The Nepal Bankers Association (NBA) decided on Monday not to raise interest rates in Poush and to keep the previous rate unchanged.

In Mangsir (Dec/Jan), commercial banks also kept interest rates unchanged.

However, interest rates in Mangsir have been reduced by development banks and finance companies. Following that, commercial banks were also under pressure to lower interest rates.

Even in Poush, commercial banks will not lower their interest rates.

Most banks offered a maximum interest rate of 12.13 percent on term deposits (personal) in the month of Mangsir. The same rate will be maintained in Poush.