“Interest rate difference between personal and institutional accounts should be at least 1 percent”

KATHMANDU, FEBRUARY 22: The interest rate difference between the personal and institutional fixed deposits should be maintained at at lear 1 percent point from the upcoming Nepali month of Chaitra (beginning from March 14). Nepal Rastra Bank today issued a direction to this effect to the banks and financial institutions (BFIs) by revising the Unified Directives.

Prior to this , the difference of interest rate in the fixed deposits of general public and institutions was fixed at least 2 percent point.

The central bank has also annuled the provision of charging the maximum of 0.5 percent interest rate in the fixed deposit account deposits collected through competitive bidding process.