Development Banks have revised the interest rates for the Month of Mangshir 2081. The new interest rate will be effective from 1^st Mangshir 2081. Due to availability of excess liquidity in the market, the interest rates are in decreasing trend while some banks have continued to maintain their earlier rate. Let’s look into the revised interest rates of Development Banks for Mangshir 2081.

Saving Account:

All Banks except Muktinath Bikas Bank published the same rate as that of Kartik for saving products. Lower Band of interest rate on saving account published by most of the national level development banks is at 3% whereas maximum band of interest rate on saving account was published by Mahalaxmi Bikas Bank of 5.05%. Sangrila Development Bank has published maximum interest rate as 3.5%  on its saving account being the lowest amongst peer. Muktinath Bikas Bank being the only bank to revise its saving rate, reduced its rate on lower and upper band of saving account by 0.03% and stands at 3.02% on lower band and 5.02% on upper band.

 

Banks	Mangsir 2081	Kartik 2081	Change	Mangsir 2081	Kartik 2081	Change
	Minimum Rate			Maximum Rate
Mahalaxmi	3.05%	3.05%	0.00%	5.05%	5.05%	0.00%
Lumbini	3.00%	3.00%	0.00%	5.00%	5.00%	0.00%
Kamana	3.00%	3.00%	0.00%	5.00%	5.00%	0.00%
Jyoti	3.00%	3.00%	0.00%	5.00%	5.00%	0.00%
Muktinath	3.02%	3.05%	-0.03%	5.02%	5.05%	-0.03%
Shangrila	3.00%	3.00%	0.00%	3.50%	3.50%	0.00%
Garima	3.00%	3.00%	0.00%	5.00%	5.00%	0.00%
Shine	3.00%	3.00%	0.00%	5.00%	5.00%	0.00%

Call Account:

On call account also, only Muktinath Bikas Bank had changed its rate as compared to Kartik 2081.  Muktinath Bikas Bank reduced its rate by 0.015% to 1.510% from 1.525%. Highest rate on call account is offered by Mahalaxmi Bikas Bank of 1.525%. All banks except Muktinath and Mahalaxmi offered same rate of 1.5% interest rates on call account.

 

Banks	Call
	Mangsir 2081	Kartik 2081	Change
Mahalaxmi	1.525%	1.525%	0.000%
Lumbini	1.500%	1.500%	0.000%
Kamana	1.500%	1.500%	0.000%
Jyoti	1.500%	1.500%	0.000%
Muktinath	1.510%	1.525%	-0.015%
Shangrila	1.500%	1.500%	0.000%
Garima	1.500%	1.500%	0.000%
Shine	1.500%	1.500%	0.000%

 

Fixed Deposit:  

Individual FD:

Most of the development banks have maintained same rate as that of Kartik for fixed deposit. On upper band, highest rate is offered by Jyoti Bikas Bank of 5.50% on Individual FD less than 1 year. Sangrila Development Bank reduced its rate to 5.25% down from 5.50% of Kartik. Garima Bikas Bank offers 5% on upper band, being the lowest for same tenure.

For individual fixed deposit more than a year, highest rate is offered by Kamana Sewa Bikas Bank with 6.75% on upper band. Apart from Kamana Sewa Bikas Bank all other bank offered same rate of 6.50% on fixed deposit above 1 year. This month Kamana Sewa Bikas Bank and Sangrila Development Bank both reduced their rate by 25 basis point as compared to Kartik 2081.

 

Banks	Individual - Fixed Deposit
	Mangsir 2081	Kartik 2081	Change	Mangsir 2081	Kartik 2081	Change
	Less Than 1 Year (Maximum Rate)			More than 1 Year (Maximum Rate)
Mahalaxmi	5.05%	5.15%	-0.10%	6.50%	6.50%	0.00%
Lumbini	5.25%	5.25%	0.00%	6.50%	6.50%	0.00%
Kamana	5.25%	5.25%	0.00%	6.75%	7.00%	-0.25%
Jyoti	5.50%	5.50%	0.00%	6.50%	6.50%	0.00%
Muktinath	5.10%	5.20%	-0.10%	6.50%	6.50%	0.00%
Shangrila	5.25%	5.50%	-0.25%	6.50%	6.75%	-0.25%
Garima	5.00%	5.00%	0.00%	6.50%	6.50%	0.00%
Shine	5.15%	5.15%	0.00%	6.50%	6.50%	0.00%

 

Institutional Fixed Deposit

On Institutional Fixed Deposit for duration less than a year, Jyoti Bikas Bank offered the lowest rate of 3.50%. Lumbini Bikas Bank and Shangrila Development Bank both offered rate of 4.25% on institutional FD less than 1 year. Lumbini Bikas Bank and Shangrila Development Bank both reduced their rates by 25 basis point, Mahalaxmi and Muktinath Bikas Bank both reduced their rate by 10 basis point whereas other banks kept their institutional interest rates unchanged for Mangshir 1 year duration.

 

For institutional fixed deposit of more than a year, Kamana Sewa Bikas Bank offers rate of 5.75% being the highest among the peer and Lumbini Bikas Bank offers rate of 5% being the lowest amongst the peer. Lumbini Bikas Bank and Sangrila Development Bank both reduced their institutional deposit rate for more than a year by 50 basis point as compared to Kartik being the highest reduction amongst peer. Except Kamana, Sangrila and Lumbini none other  Bank have changed their earlier published interest  rates for more than 1-year duration.

 

Bank	Institutional - Fixed Deposit
	Mangsir 2081	Kartik 2081	Change	Mangsir 2081	Kartik 2081	Change
	Less Than 1 Year (Max)			More than 1 Year (Max)
Mahalaxmi	4.05%	4.15%	-0.10%	5.50%	5.50%	0.00%
Lumbini	4.25%	4.50%	-0.25%	5.00%	5.50%	-0.50%
Kamana	4.00%	4.00%	0.00%	5.75%	6.00%	-0.25%
Jyoti	3.50%	3.50%	0.00%	5.50%	5.50%	0.00%
Muktinath	4.15%	4.25%	-0.10%	5.50%	5.50%	0.00%
Shangrila	4.25%	4.50%	-0.25%	5.25%	5.75%	-0.50%
Garima	4.00%	4.00%	0.00%	5.50%	5.50%	0.00%
Shine	4.15%	4.15%	0.00%	5.50%	5.50%	0.00%