Banks interest rate comes down

By TRN Online, Kathmandu, Nov 19: The weighted average lending rate of commercial banks reduced to 9.33 per cent in mid-October from 12.11 per cent a year ago.

Similarly, the lending rate of development bank reduced to 10.63 per cent from 13.91 per cent and lending rate of finance companies reduced to 11.86 per cent from 14.61 per cent a year ago.

In align with lending rate, deposit rate of also fell

According to a data provided by Nepal Rastra Bank (NRB) today, the average deposit rate of commercial banks fell down to 5.24 per cent from 7.90 per cent, deposit rate of development banks fell down to 5.94 per cent from 9.36 per cent and deposit rate of finance company fell down to 7.21 per cent from 10.19 per cent.

Similarly, the average base rates of commercial bank reduced to 7.29 per cent from 9.94 per cent, base rates of development bank reduced to 9.13  per cent from 12.30 per cent, base rates of finance company reduced to 10.35 per cent from 13.65 a year ago.