Banks providing excessive low interest rate

Kathmandu December 11- Depositors are getting the lowest interest till date in the current scenario. In order to reduce capital costs due to low credit flow as a result of unofficial border blockade by India, banks are cutting interest rates on deposits. "Right now, banks are providing 1% to 5% interest to normal saving account", stated Bhuwan Dhahal CEO of Sanima bank.

Last year, banks were providing average of 2% to 5.5% interest in this period of time. Banks like Global IME Bank, Macchapuchrre Bank, Prabhu Bank, Citizen Bank, Himalayan Bank,  Standard Chartered Bank, Bank of Kathmandu are giving lowest interest i.e. of 1% to 1.75% to the depositors.