General changes in interest rates of banks: Short-term interest rates began to rise

Banks have started considering interest rates. Four commercial banks have considered interest rates on Friday. Himalayan Bank has reduced the interest rate on term deposits. However, short-term deposits seem to have increased . Banks have been on the verge of attracting short-term deposits as credit investment has skyrocketed recently. It is clear that the interest rates they have made public are trying to attract short-term deposits.

The maximum interest rate on Himalayan term deposits is currently up to 6.5 percent. The personal term deposit is fixed at four to six and a half percent. Earlier, it was fixed at 4 to 7 percent. Similarly, interest rate has been fixed at 3 to 6 percent for institutional depositors.

Earlier it was 3 to 7 percent. Although interest rates on long-term deposits have not changed much, interest rates on short-term deposits have increased. At present, Himalayan has fixed the interest rate for 4-month personal term deposit account at 4 percent, 6.5 percent for 9-month term and 7 percent for more than one year. Himalayan has also arranged to pay 2 to 4 percent interest on savings accounts. This interest rate will be applicable from Chaitra 1.

So far, Standard Chartered Bank's personal term deposits range from 4.5 to 6 percent. Institutional depositors have set interest rates at 3 to 3.25 percent. The interest rate on term deposit is 4.5 percent for 3 months, 5 percent for less than 3 months to 1 year and 6 percent for 1 year or more. However, interest rates on savings have not changed. It has been paying interest on savings of 2 to 4 percent.

The term deposit of Kumari Bank has been increased from 1.5 percent to 5.5 percent in less than 3 months to 1 year. The interest rate on 1 to 2 year term deposits has been increased by 0.75 percent to 6.75 percent. The interest rate on deposits of more than two years has been kept stable at 7 percent. Its interest rate on savings is also stable. Its savings interest rates range from 2 to 4 percent.

Everest Bank's interest rates on term deposits range from 4.75 percent to 6.75 percent. The interest rate is 5 to 7 percent of the institutional term. Everest Bank has raised the interest rate on six-month deposits from 5.50 percent to 6.25 percent. Everest Bank has increased its deposits for less than six months by 0.25 percent to 4.75 percent. Similarly, the interest rate on deposits of one year or more has been increased by 0.25 percent to 6.75 percent.